Disclaimer: Informational statements regarding insurance coverage are for general description purposes only. These statements do not amend, modify or supplement any insurance policy. This website does not make any representations that coverage does or does not exist for any particular claim or loss, or type of claim or loss, under any policy. Whether coverage exists or does not exist for any particular claim or loss under any policy depends on the facts and circumstances involved in the claim or loss and all applicable policy wording.
At Northern Insuring Agency, we enter 2025 with the same steadfast commitment to our clients that has guided us for over nine decades. From our locations in Plattsburgh, Potsdam, and Glens Falls, we continue to serve as Northern New York’s trusted partner in protection. Whether it’s auto, home, life, health, business, or employee benefits insurance, we’re here to simplify the complexities of coverage and support you every step of the way.
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Looking Ahead: 2025 Insurance Trends
As the industry evolves, so do we. Here’s what’s shaping the insurance landscape in 2025.
Rise in Cyber Insurance Needs
From Howden’s 2024 Cyber Insurance Report, a significant gap has emerged between the risks businesses face and the insurance coverage available to address them. Only 20% of small and medium-sized enterprises (SMEs) are adequately protected against cyber risks, while larger companies grapple with securing comprehensive coverage due to the ever-evolving scale and complexity of these threats. This underscores the urgent need for more tailored insurance solutions to bridge the gap and effectively manage cyber risks.
Focus on Environmental Coverage
Natural disasters are driving up insurance costs and impacting accessibility in 2025, with annual insured losses now exceeding $100 billion globally. Verisk reports that average costs from natural catastrophes have hit $151 billion annually, with exposure growth projected at 7.2%. These rising risks have led to higher premiums and prompted insurers to withdraw from high-risk areas like California and Florida, leaving many property owners dependent on state-backed insurance or self-insuring in disaster-prone regions.
Expansion of Health & Wellness Benefits
Group benefits plans are shifting to include mental health support, wellness incentives, and telehealth services. A blog from Uprise Health dives into how wellness programs in 2025 will shift to meeting evolving employee needs. We can help you design packages that reflect these priorities.
AI and Data-Driven Solutions: Transforming Insurance
Artificial intelligence (AI) and advanced data analytics are revolutionizing the insurance industry. With tools like machine learning, telematics, and predictive analytics, insurers can assess risks, streamline claims, and create highly personalized policies. AI-powered chatbots offer 24/7 support, while real-time data from smart devices helps tailor coverage and improve risk management. According to McKinsey & Company, AI could automate up to 50% of claims activities and reduce underwriting costs by 70%.
Growing Demand for Green Insurance
Sustainability continues to shape consumer and business priorities, with a growing demand for insurance products that support eco-friendly initiatives. Green insurance policies are designed to address environmental concerns by covering renewable energy systems, like solar panels, wind turbines, and electric vehicle chargers, as well as offering incentives for sustainable practices.
This trend reflects a broader shift toward climate-conscious solutions in the industry. According to a report by Allianz, the green insurance market is expected to grow significantly as individuals and businesses invest in energy-efficient technologies and climate-resilient infrastructure. Insurers are responding by introducing policies tailored to meet these needs, such as discounts for sustainable upgrades or protection against risks like extreme weather impacting renewable energy systems.
At Northern Insuring Agency, we don’t just adapt to industry changes—we stay ahead of them to bring you the most effective solutions. As 2025 unfolds, we’re here to help you navigate these trends while staying true to the personal service and expertise you’ve come to trust.
Let’s make this year one of growth, protection, and continued success—together.
Need help? Contact the team at Northern Insuring Agency. Our professionals can help you figure out which personal insurance policy will be the best option to help you keep up with the ever-changing world we live in.
Get in touch today for a quote! Northern Insuring will simplify the complicated...for insurance.