News Center
The trusted source of unique, data-driven insights on insurance to inform and empower consumers.
Piracy Incidents Decline, But Horizon Isn’t Clear
Maritime piracy in the first half of 2022 is at its lowest level since 1994, the International Maritime Bureau (IMB) says, with 58 incidents, down from 68 for the same period last year. Nevertheless, the organization cautions against complacency. For the full year 2020, IMB listed 195 actual and attempted attacks, up from 162 in … Continue reading Piracy Incidents Decline, But Horizon Isn’t Clear →
POSTED AUGUST 16, 2022 2:23 PM |
Cellphone Bans Cut Crashes; TelematicsCan Help ReduceDistracted Driving
Max Dorfman, Research Writer, Triple-I State prohibitions on cellphone use while driving correlate with reduced crash rates, according to recent research by the Insurance Institute for High Safety (IIHS). However, overall results were mixed among the states studied, with different legal language, degrees of enforcement, and penalty severity, providing possible explanations for the differing outcomes. … Continue reading Cellphone Bans Cut Crashes; TelematicsCan Help ReduceDistracted Driving →
POSTED AUGUST 16, 2022 1:40 PM |
2022 P&C Underwriting Profitability Seen Worsening as Inflation, Hard Market Persist
The property & casualty insurance industry’s combined ratio – an indicator of underwriting profitability – is forecast at 100.7 for 2022, up 1.2 points from 2021, according to actuaries at Triple-I and Milliman, a risk-management, benefits, and technology firm. They presented their findings at a Triple-I members-only virtual webinar. Combined ratio represents the difference between claims and expenses … Continue reading 2022 P&C Underwriting Profitability Seen Worsening as Inflation, Hard Market Persist →
POSTED AUGUST 11, 2022 2:49 PM |
Hurricanes Drive Louisiana Insured Losses, Insurer Insolvencies
Max Dorfman, Research Writer, Triple-I Severe hurricane damage in recent years has led to major losses by writers of Louisiana homeowners’ insurance and to the insolvency of eight insurers. Louisiana homeowners’ insurers had a combined ratio of 461.9 in 2021. Combined ratio represents the difference between claims and expenses paid and premiums collected by insurers. … Continue reading Hurricanes Drive Louisiana Insured Losses, Insurer Insolvencies →
POSTED AUGUST 08, 2022 8:57 PM |
Pot Legalization Link To Car Crashes Variesby State, Study Finds
Max Dorfman, Research Writer, Triple-I Recreational marijuana use is associated with automobile crash trends, according to a paper published in the Journal of Studies on Alcohol and Drugs. However, the study also noted that retail marijuana sales aren’t solely responsible for the general rise in accidents. Legalization of recreational marijuana use was correlated to a … Continue reading Pot Legalization Link To Car Crashes Variesby State, Study Finds →
POSTED JULY 29, 2022 3:44 PM |
As Building Costs Grow, Consider Your Homeowners’ Coverage
By Max Dorfman, Research Writer, Triple-I (07/14/2022) Home construction and maintenance costs are on the rise, and homeowners should be factoring these trends into their insurance decisions – especially as risks related to weather and climate intensify. Rising interest rates and persistent disruptions in the building-materials supply chain can affect repair and replacement costs for … Continue reading As Building Costs Grow, Consider Your Homeowners’ Coverage →
POSTED JULY 14, 2022 8:20 PM |
Delaware Legislature Adjourns Without Action on Banning Genderas Auto Insurance Factor
Delaware’s state Legislature adjourned for the year without the House taking action on Senate Bill (SB) 231, which called for prohibiting the use of gender as a rating factor in personal automobile insurance policies. The measure was based on research conducted with the Consumer Federation of America that contended many insured Delaware women are charged … Continue reading Delaware Legislature Adjourns Without Action on Banning Genderas Auto Insurance Factor →
POSTED JULY 07, 2022 3:22 PM |
Complex Risks in a Complicated World:Are Federal Government “Backstops” The Answer?
Two U.S. agencies have agreed to explore the potential need for a federal mechanism – analogous to the one put into place for terrorism insurance after the 9/11 attacks – to address the growing cybersecurity threat to critical infrastructure. The perceived need to do so speaks to the growing complexity and interrelatedness of this and … Continue reading Complex Risks in a Complicated World:Are Federal Government “Backstops” The Answer? →
POSTED JUNE 30, 2022 8:58 PM |
IRC Study: Public Perceives Impact of Litigationon Auto Insurance Claims
Most Americans believe attorney advertising increases the number of liability insurance claims and lawsuits, according to recent research from the Insurance Research Council (IRC). The survey also indicated that consumers see a connection between attorney advertising and insurance costs. The IRC – like Triple-I, an affiliate of The Institutes – also found that consumer awareness … Continue reading IRC Study: Public Perceives Impact of Litigationon Auto Insurance Claims →
POSTED JUNE 28, 2022 5:08 PM |
Fraud, Litigation Push Florida Insurance Market to Brink of Collapse
With its abundance of unneeded new roofs on homes – and flashy lawyer billboards at every turn claiming massive settlements on claims – Florida’s insurance market is on the verge of failure. This man-made catastrophe is causing financial strain on consumers, as the annual cost of an average Florida homeowners insurance policy will skyrocket to … Continue reading Fraud, Litigation Push Florida Insurance Market to Brink of Collapse →
POSTED JUNE 23, 2022 6:05 PM |
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