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Improved Commercial Auto Underwriting Profitability Expected After Years of Struggle

Triple-I: Business Insurance

The commercial auto insurance line has struggled to achieve underwriting profitability for years, even before the inflationary conditions that have been affecting property/casualty lines more recently. This weakness in underwriting profitability has been driven by several causes, according to a new Triple-I Issues Brief.

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Personal Lines Underwriting Results Improve, Reducing Gap With Commercial Lines

Triple-I: Homeowners Insurance

property and casualty insurance industry experienced better-than-expected economic and underwriting results in the first half of 2024, according to the latest forecasting report by Triple-I and Milliman. Much of the overall underwriting gain was due to growth in personal lines net premiums written. represented a 2.3-points

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2022 P&C Underwriting Profitability Seen Worsening as Inflation, Hard Market Persist

Triple-I: Business Insurance

The property & casualty insurance industry’s combined ratio – an indicator of underwriting profitability – is forecast at 100.7 Combined ratio represents the difference between claims and expenses paid and premiums collected by insurers. Losses have been driven by significant deterioration in the personal auto line.

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Report: Policyholders See Climate as a ‘Primary Concern’

Triple-I: Business Insurance

With this in mind, 73 percent of policyholders said they consider climate change one of their primary concerns, compared with 40 percent of insurers. ” The report emphasizes the economic losses associated with climate, which it says have grown by 250 percent in the last 30 years.

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Cannabis Industry Prospects Brighten;Risks, Challenges Remain

Triple-I: Workers Compensation

The CLAIM Act would let these businesses obtain insurance to cover the same risks of theft, damage, injury, loss, and liability as all other businesses. There also is a small handful of admitted carriers that operate in California, and most recently in Arizona.”

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