What Lies Ahead?: Top Insurtech Trends for 2025 and Beyond /*! elementor – v3.23.0 – 10-07-2024 */ .elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block} With only two months left in the year, we’ll be soon gearing up to kickstart 2025, and the insurance industry stands at a critical crossroads. The global protection gap—a measure […]
5 cyber insurance claims: Real-world examples every business should know
5 cyber insurance claims: Real-world examples every business should knowDo you know what incidents can result in cyber insurance claims? In today’s digital landscape, cyber incidents are no longer a matter of “if” but “when.” Understanding real-world cyber insurance claims can help businesses better prepare for and prevent similar incidents. Let’s explore five common scenarios […]
US Consumers See Link Between Attorney Involvement in Claims and Higher Auto Insurance Costs: New IRC Report
US Consumers See Link Between Attorney Involvement in Claims and Higher Auto Insurance Costs: New IRC Report According to a new survey conducted by the Insurance Research Council (IRC), most consumers believe attorney advertising increases the number of claims and lawsuits and the cost of auto insurance. The report, Public Opinions on Attorney Involvement in […]
Inflation Continuesto Drive Up Consumers’ Insurance Costs
Inflation Continuesto Drive Up Consumers’ Insurance Costs By William Nibbelin, Senior Research Actuary, Triple-I Insurance is priced to reflect the underlying risk of every policy. When more claims are filed and the average amount paid of those claims increases, insurance becomes more expensive. A measure of underwriting profitability for insurance carriers is the combined ratio […]
Improved Commercial Auto Underwriting Profitability Expected After Years of Struggle
Improved Commercial Auto Underwriting Profitability Expected After Years of Struggle The commercial auto insurance line has struggled to achieve underwriting profitability for years, even before the inflationary conditions that have been affecting property/casualty lines more recently. This trend has been accompanied by steady growth in net written premiums (NWP). This weakness in underwriting profitability has […]
Hurricane Helene Highlights InlandFlood Protection Gap
Hurricane Helene Highlights InlandFlood Protection Gap By Lewis Nibbelin, Contributing Writer, Triple-I Spanning over 500 miles of the southeastern United States, Hurricane Helene’s path of destruction has drawn public attention to inland flood risk and the need for improved resilience planning and insurance purchase (“take up”) to confront the protection gap. Extreme rainfall and wind […]