The commercial auto insurance sector has faced challenges in achieving underwriting profitability for several years, a situation that predates the recent inflationary pressures affecting property and casualty lines. Despite steady growth in net written premiums, this line of insurance continues to struggle, as reported by the Insurance Information Institute (Triple-I), an affiliate of The Institutes.

The Insurance Information Institute (Triple-I) has initiated a campaign to highlight the effects of legal system abuse on consumers, businesses, and insurers in Georgia. This effort includes an Interstate 20 billboard in Downtown Atlanta and digital billboards throughout Metro Atlanta at bus stops and other urban locations.

First-half economic and underwriting results for the U.S. property/casualty (P/C) industry have surpassed expectations, according to a new report from the Insurance Information Institute (Triple-I) and Milliman. The report, titled "Insurance Economics and Underwriting Projections: A Forward View," highlights an improvement in the net combined ratio (NCR), which stands at 99.4—a 2.3-point enhancement compared to last year.

Financial security plays a crucial role for victims of domestic violence when considering leaving an abusive relationship, according to the Insurance Information Institute (Triple-I). The organization highlights insurance as a vital component of financial planning that can aid survivors in moving forward.

Florida residents are urged to complete preparations as Hurricane Milton approaches the state's west-central Gulf Coast. The Insurance Information Institute (Triple-I) reports that the hurricane, now a Category 5 storm with sustained winds of 160 mph, is expected to make landfall on Wednesday, October 9.

Residents in Florida, Georgia, and the Carolinas are urged to finalize their preparations as Hurricane Helene approaches. The Insurance Information Institute (Triple-I) reports that the hurricane is expected to make landfall along Florida’s Gulf Coast on Thursday, September 26.

Excess and surplus lines (E&S) have experienced growth for five consecutive years, marked by double-digit percentage increases. This trend is attributed to solid underwriting results driving operating profitability due to new risks and reduced capacity in admitted markets. These insights are part of the Insurance Information Institute’s (Triple-I) latest issues brief, "Excess and Surplus: State of the Risk."

Residents from Texas to the Florida Panhandle should prepare for the potential impacts of Tropical Storm Francine, which is forecast to make landfall along the Northern Gulf Coast on Wednesday, Sept. 11, as a hurricane, according to the Insurance Information Institute (Triple-I).

Artificial Intelligence (AI) promises to revolutionize how property and casualty (P&C) business gets done. As a result, P&C insurers are uniquely positioned to advance the conversation for ethical AI – not just for their own businesses, but for all businesses. How they might help establish cross-industry regulatory and technology best practices is the topic of a new report for insurers, "Pioneering Ethical AI: The Crucial Role of Property and Casualty Insurers," by the Insurance Information Institute (Triple-I), an affiliate of The Institutes, and data and AI leader SAS.

Amica Mutual Insurance Company Joins Triple-I as Its Latest Member

Residents of Florida and the Southeast should prepare for the potential impacts of Tropical Cyclone 4, which is forecast to become Tropical Storm Debby later on Saturday and potentially a hurricane before making landfall along Florida’s Gulf Coast on Monday, Aug. 5, according to the Insurance Information Institute (Triple-I).

NEW YORK, July 16, 2024 – The recent rise in U.S. homeowners insurance costs has been driven by a combination of increasing natural catastrophe losses and extraordinary inflation following COVID-19, according to the Insurance Information Institute’s (Triple-I) latest Issues Brief. Triple-I also noted that legal system abuse is contributing to the cost increases.

NEW YORK, July 11, 2024 – Favorable first-quarter economic and underwriting results for property/casualty insurance align with projections that the industry will see a small underwriting loss in 2024 and achieve profitability in 2025, according to the latest forecasting report from the Insurance Information Institute (Triple-I) and Milliman.

HOUSTON, July 6, 2024 — Texans should be alert for the potential impacts of Tropical Storm Beryl, which is forecast to intensify back to hurricane strength before making landfall along the Texas Gulf Coast on Monday, July 8, according to the Insurance Information Institute (Triple-I). It would be the first U.S. landfall of the 2024 Atlantic hurricane season.

Researchers at the Insurance Information Institute (Triple-I) have determined that home insurance premiums in Florida rose at a much lower rate than originally projected in 2022 and 2023. The significant differences in premium averages reflect the impact of legislative legal system abuse reforms as well as lower levels of inflation in replacement costs. Both factors were not anticipated at the time Triple-I’s estimates were made.

The Insurance Information Institute (Triple-I) has reported improvements in personal auto profitability, although these gains may take time to impact premium rates. According to Triple-I's newly published Issues Brief, "Trends and Insights: Personal Auto Insurance Rates," the 2023 net combined ratio for auto insurers was 104.9, a 7.3-point improvement over 2022. Additionally, the net written premium growth for 2023 reached 14.3%, the highest in over 15 years and six points higher than the next-highest during that period.

The Insurance Information Institute (Triple-I) and the National Insurance Crime Bureau (NICB) have partnered to combat contractor fraud, a growing issue that has stalled or completely halted the rebuilding process for many homeowners after a disaster. Sean Kevelighan, CEO of Triple-I, emphasized the importance of educating homeowners about common signs of fraud and offering guidance on hiring reputable contractors.

The U.S. property/casualty industry experienced its second consecutive year of underwriting losses in 2023, with a net combined ratio of 101.6. Despite an improvement compared to 2022, personal lines remained the primary contributor to unprofitability in 2023. The latest industry underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman anticipate that premium growth will further enhance underwriting results in 2024, forecasting a net combined ratio of 100.2 for the P/C industry.

U.S. property/casualty replacement costs are currently rising at a slower rate than overall inflation and this trend is expected to persist for the next two years, according to the Insurance Information Institute’s (Triple-I) latest Insurance Economics Outlook. Despite this slowdown in cost increases, it is unlikely to ease upward pressures on insurance premiums, particularly in light of deteriorating underwriting trends and multi-year replacement cost increases. However, it may provide some short-term relief for carriers before surpassing overall inflation again by 2026.

The Insurance Information Institute (Triple-I) reports that Florida’s property insurance market is experiencing improvements, attributed to legislative reforms that address legal system abuse and fraud. The reforms, established in 2022 and 2023, have paved the way for stability in the market as the 2024 Atlantic hurricane season approaches.