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1 week ago | 
insuranceindustryblog.iii.org | Jeff Dunsavage
A record number of bills targeting third-party litigation funding are under consideration across the United States, with Georgia and Kansas already passing disclosure measures, according to an analysis by Insurance Insider.
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2 weeks ago | 
insuranceindustryblog.iii.org | Jeff Dunsavage
Even as California moves to address regulatory obstacles to fair, actuarially sound insurance underwriting and pricing, the state’s risk profile continues to evolve in ways that impede progress, according to the most recent Triple-I Issues Brief. Like many states, California has suffered greatly from climate-related natural catastrophe losses. Like some disaster-prone states, it also has experienced a decline in insurers’ appetite for covering its property/casualty risks.
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2 weeks ago | 
insuranceindustryblog.iii.org | Jeff Dunsavage
By Lewis Nibbelin, Contributing Writer, Triple-IU.S. property claims volume rose 36 percent in 2024, propelled by a 113 percent increase in catastrophe claims, according to a recent Verisk Analytics report. While evolving climate risks fueled claim frequency, uncertain inflation trends and unchecked legal system abuse will likely further strain insurer costs and time to settle these claims, posing risks to coverage affordability and availability.
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4 weeks ago | 
insuranceindustryblog.iii.org | Jeff Dunsavage
You read that right. As a percentage of median household income, personal auto insurance premiums nationally were more affordable in 2022 (the most recent data available) than they have been since the beginning of this century. And even the premium increases of the past two years are only expected to bring affordability back into the 2000 range, according to the Insurance Research Council (IRC).
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1 month ago | 
insuranceindustryblog.iii.org | Jeff Dunsavage
By Mary Sams, Senior Research Analyst, Triple-IPersonal cyber risk – historically viewed as synonymous with “identity theft” – has evolved with the rise of internet-connected devices in the home. These devices can open the door to malware that can seize control of a homeowner’s data and expose them to extortion and other threats. Phishing and financial scams have been found to generate the greatest losses for homeowners.
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1 month ago | 
insuranceindustryblog.iii.org | Jeff Dunsavage
By Loretta L. Worters, Vice President, Media Relations, Triple-I Growing up, Tracy Ryan always loved math. It came to her naturally. She liked the patterns, structures, and precision of math – “the poetry of logical ideas” as Albert Einstein put it. When she went to college, and then onto graduate school, her focus was on pursuing a career that aligned with her favorite subject.
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1 month ago | 
insuranceindustryblog.iii.org | Jeff Dunsavage
By Michaela Platt, Communications Coordinator, Triple-IAs businesses started incorporating Internet strategies into their operations, Casey Kempton had just begun her graduate studies in cognitive anthropology and was working for a tech startup. A Connecticut native, Kempton had always been aware of insurance giants based in her state. So, when the startup she worked for went out of business, a career with their insurance partner, The Hartford, seemed a natural fit.
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1 month ago | 
insuranceindustryblog.iii.org | Jeff Dunsavage
Tariffs and threats of tariffs have been roiling financial markets since January. Property and casualty insurers are no less concerned, as the cost of repairing and replacing damaged property is a driver of claim costs and, ultimately, policyholder premiums. Triple-I Chief Economist and Data Scientist Dr. Michel Léonard recently sat down to explain the implications of tariffs and trade barriers for insurers and what economic considerations concern industry decisionmakers.
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1 month ago | 
insuranceindustryblog.iii.org | Jeff Dunsavage
Recent improvement in Florida’s insurance market – fostered by legislation targeting legal system abuse – is threatened by several bills proposed in the state’s 2025 legislative session. Florida’s property insurance market has stabilized thanks to reforms introduced in 2022 and 2023 aimed at reducing excessive litigation and inflated claims. As a result of these reforms, the number of insurers writing business in the state has rebounded after a multi-year exodus.
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1 month ago | 
insuranceindustryblog.iii.org | Jeff Dunsavage
Florida’s legislative reforms to address claim fraud and legal system abuse are stabilizing the state’s property/casualty insurance market, according to the latest Triple-I Issues Brief. Claims-related litigation has significantly declined over the past two years, and premium averages are nearly flat, with several insurers requesting rate decreases from the state’s insurance regulator.
