NCIGF Moves Aheadto Support InsurersBy Max Dorfman, Research Writer, Triple-I For the last 35 years, the National Conference of Insurance Guaranty Funds (NCIGF) – an organization dedicated to serving 55 property/casualty state guaranty funds – has provided operational support; communications, education, and outreach; as well as public policy management for these organizations. State guaranty funds […]
Triple-I Brief Discusses Homeowners Insurance Market Challenges
Triple-I Brief Discusses Homeowners Insurance Market Challenges By Max Dorfman, Research Writer, Triple-I Homeowners insurance costs have continued to consistently rise in the wake of the pandemic, alongside several other challenges, according to a new Triple-I Issues Brief. The COVID-19 pandemic and Russian invasion of Ukraine sparked inflation – particularly with regard to replacement costs […]
Economic Climate Makes Understanding Insurance Increasingly Important
Economic Climate Makes Understanding Insurance Increasingly Important By Lewis Nibbelin, Guest Blogger for Triple-I Insurance coverage has long been “a grudge purchase – a once-or-twice-a-year transaction that many consumers didn’t want to think about,” Triple-I CEO Sean Kevelighan said in a recent episode of the “All Eyes on Economics” podcast. But in today’s dynamic economic […]
P/C Underwriting Profitability Remainsat Least a Year Away
P/C Underwriting Profitability Remainsat Least a Year AwayBy Max Dorfman, Research Writer, Triple-I The property/casualty insurance industry is expected to achieve underwriting profitability in 2025, according to the latest research from the Triple-I and Milliman, a collaborating partner. The report, Insurance Economics and Underwriting Projections: A Forward View, which was presented at a members-only webinar […]
Insurance Underwritingand Economic Analysis: “Art and Science”
Insurance Underwritingand Economic Analysis: “Art and Science” By Lewis Nibbelin, Guest Blogger for Triple-I Home and auto insurance premium rates have been a topic of considerable public discussion as rising replacement costs and other factors – from climate-related losses to fraud and legal system abuse – have driven rates up and, in some states, crimped […]
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 […]
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 […]
Triple-I/Milliman: Personal Lines Dragon Underwriting Profitability Continues
Triple-I/Milliman: Personal Lines Dragon Underwriting Profitability ContinuesBy Max Dorfman, Research Writer, Triple-I The property and casualty insurance industry posted its second consecutive year of underwriting losses, driven primarily by personal lines, according to the latest industry underwriting projections by actuaries at Triple-I and Milliman. The net combined ratio for 2023 was 101.6, according to Insurance Economics […]
IRC: Homeowners Insurance Affordability Worsens Nationally, Varies Widely by State
IRC: Homeowners Insurance Affordability Worsens Nationally, Varies Widely by State By Max Dorfman, Research Writer, Triple-I Average U.S. homeowners insurance premiums have increased at a rate that has outpaced household income from 2001 to 2021, according to a new report by the Insurance Research Council (IRC). In 2021 – the latest year for which data […]
Triple-I/Milliman:Severe Convective Storms Restrain P&C Growth
Triple-I/Milliman:Severe Convective Storms Restrain P&C Growth By Max Dorfman, Research Writer, Triple-I Severe convective storm losses drove adverse results in 2023 underwriting profitability for the property/casualty industry, according to the latest projections by actuaries at the Triple-I and Milliman. The quarterly report, Insurance Economics and Underwriting Projections: A Forward View, which was presented on […]
Chubb Highlights Perils Keeping High-Net-Worth People Awake at Night
Chubb Highlights Perils Keeping High-Net-Worth People Awake at Night According to a recent Chubb survey of 800 high-net-worth individuals in the United States and Canada, 92 percent are concerned about the size of a verdict against them if they were a defendant in a liability case – yet only 36 percent have excess liability insurance. […]