FBI Reports Elder Fraud Is On The Rise, Strengthening The Case for Personal Cyber Insurance By Neil Rekhi, Personal Cyber Product Lead, HSB Targeting of the demographic with the most to lose increases. In 2023, total losses reported to the FBI’s Internet Crime Complaint Center (IC3) by people over the age of 60 topped $3.4 […]
Insurers Tackle Food Insecurity in 30th Yearof Philanthropy
Insurers Tackle Food Insecurity in 30th Yearof Philanthropy By Loretta Worters, Vice President, Media Relations, Triple-I One in five U.S. children is unsure where they will get their next meal, according to the U.S. Department of Agriculture. In 2022, 33 percent of single-parent families experienced food insecurity, and the problem is especially acute for families […]
Report: No-Fault Reforms Improved Michigan’s Personal Auto Insurance Affordability
Report: No-Fault Reforms Improved Michigan’s Personal Auto Insurance AffordabilityBy Max Dorfman, Research Writer, Triple-I Michigan personal auto insurance affordability improved markedly after enacting substantial auto insurance reform in 2019, according to a new report by the Insurance Research Council (IRC) – like the Triple-I, a division of The Institutes The study, Personal Auto Insurance Affordability […]
Reinsurance Buyers See More Balanced Market at July 1 Renewals: Gallagher Re
Reinsurance Buyers See More Balanced Market at July 1 Renewals: Gallagher ReReinsurers experienced near-record returns in 2023, and continued to post strong results in the first quarter of 2024, with up to a 12% improvement in combined loss ratios, according to Gallagher Re’s 1st View report. The report attributes these positive outcomes to several factors, […]
Operating from the shadows, TPLF can create problems for judges and courts.
Operating from the shadows, TPLF can create problems for judges and courts. A recently published article, The Fifth Dimension: TPLF and Its Effect on the Judiciary, highlights the ways the rising specter of third-party litigation funding (TPLF) can create unnecessary challenges for the judiciary. Triple-I has published a great deal regarding the potential impact of […]
Florida Homeowners Premium Growth Slowsas Reforms Take Hold, Inflation Cools
Florida Homeowners Premium Growth Slowsas Reforms Take Hold, Inflation CoolsHomeowners insurance premium growth in Florida has slowed since the state implemented legal system abuse reforms in 2022, according to a Triple-I analysis. As shown in the chart below, average annual premiums climbed sharply after 2020. This was due in part to inflation spurred by the […]
New Triple-I Podcast Focuses on Intersection of Economics & Insurance
New Triple-I Podcast Focuses on Intersection of Economics & Insurance By Marina Madsen, Research Analyst, Triple-I Triple- I is pleased to present “All Eyes on Economics”, its new podcast series. Hosted by Triple-I Chief Economist and Data Scientist Dr. Michel Léonard, PhD, CBE, the series equips listeners with insights to manage economic uncertainty at the […]
Dynamic trends in TPLF and securities class actions increase risks for insurers
Dynamic trends in TPLF and securities class actions increase risks for insurers An annual report on securities class actions from Cornerstone Research indicates the median settlement amount increased 11%, and the proportion of settlements of at least $100 million climbed to nearly two-thirds of the total settlement dollars in 2023. Research from Westfleet Advisors focused […]
The Institutes Releases New Webinar, Intersectionality in Research: Navigating Diversity
The Institutes Releases New Webinar, Intersectionality in Research: Navigating Diversity Industry stakeholders looking to keep pace with market challenges may find diversity in research the key to long-term success and resilience. A multitude of different perspectives, ideas, and solutions can enhance innovation and strategic outcomes. Join The Institutes for a webinar panel discussion of strategies […]
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 […]
Women are fueling industry prosperity but left out of the C-Suite
Women are fueling industry prosperity but left out of the C-Suite The insurance industry is on track for continued growth, with women playing a huge part, but gender equity at the top remains a long way off. Bureau of Labor Statistics (BLS) data shows the talent pipeline isn’t an issue, as women account for 59.4 […]
Will the D&O market conditions remain favorable? Allianz report says 2024 will bring its share of challenges.
Will the D&O market conditions remain favorable? Allianz report says 2024 will bring its share of challenges. Several global challenges pose a significant threat to maintaining soft market conditions for Directors and Officers (D&O) liability coverage, according to the most recent report on the sector by Allianz. A list of salient risks and trends to […]