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 […]
Personal Lines Underwriting Results Improve, Reducing Gap With Commercial Lines
Personal Lines Underwriting Results Improve, Reducing Gap With Commercial LinesThe U.S. property and casualty insurance industry experienced better-than-expected economic and underwriting results in the first half of 2024, according to the latest forecasting report by Triple-I and Milliman. The report was released during a members-only webinar on Oct. 10. The industry’s estimated net combined ratio of […]
Strike’s Duration Will Determine Impact on P/C Insurance Industry
Strike’s Duration Will Determine Impact on P/C Insurance Industry By Michel Léonard, Ph.D., CBE, Chief Economist and Data Scientist, Triple-I The International Longshoremen’s Association (ILA) went on strike on Tuesday, Oct 1. The strike is expected to affect more than 20 ports along the Eastern Seaboard and Gulf Coast, including the ports of New York […]
NCCI Event Shines a Light on Workers Comp
NCCI Event Shines a Light on Workers CompWilliam Nibbelin, Senior Research Actuary, Triple-I The recent National Council on Compensation Insurance (NCCI) Annual Insights Symposium (AIS) in Orlando, Fla., provided important context and clarity around the state of the workers compensation line of business. As a new senior research actuary for Triple-I, my prior knowledge of […]
The latest reports from FBI and ITRC reveal that cyber incidents in 2023 broke records for financial loss and frequency.
The latest reports from FBI and ITRC reveal that cyber incidents in 2023 broke records for financial loss and frequency.Cyber incidents reported to the FBI’s Internet Crime Complaint Center (IC3) in 2023 totaled 880,418. These attacks caused a five-year high of $12.5 billion in losses, with investment scams making up $4.57 billion, the most for […]