Remove Auto Insurance Remove Casualty Insurance Remove Claim
article thumbnail

Florida ReformsBear Fruit as Premium Rates Stabilize 

Triple-I: Homeowners Insurance

Floridas legislative reforms to address claim fraud and legal system abuse are stabilizing the states property/casualty insurance market, according to the latest Triple-I Issues Brief. Based on insured losses, Ian became the second-most costly U.S.

Premium 52
article thumbnail

JIF 2024: What’s In a Name? When It Comes to Legal System Abuse, A Lot

Triple-I: Homeowners Insurance

last year – has commandeered the messaging once associated with insurers, noted Temple, who encouraged the industry to “take back that high ground” of providing “dependability and stability during the worst days of people’s lives” without overuse of brand mascots or jingles. “We We want to pay claims as expeditiously as possible….

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

article thumbnail

The Pressures of Operational Optimization

Majesco

There is inflation and its pressure on claims costs, whether it’s medical or it is physical damage to homes and businesses. Some customers can’t afford their insurance and they are decreasing the amount of insurance they have or not purchasing it all together. We have challenges from a macroeconomic perspective.

article thumbnail

How to Not Suck at Being an Insurance Agent

Redbird Agents

You’ve gotten lazy on studying the different types of insurance which impacts your ability to navigate your client’s needs. I spoken with thousands of insurance agents, many of whom are venturing out on their own for the first time. What type of insurance agent? Why is selling life insurance hard?

article thumbnail

Actuarial Studies Advance Discussionon Bias, Modeling, and A.I.

Triple-I: Homeowners Insurance

The Casualty Actuarial Society (CAS) has added to its growing body of research to help actuaries detect and address potential bias in property/casualty insurance pricing with four new reports. The latest reports explore different aspects of unintentional bias and offer forward-looking solutions.

Risk 59
article thumbnail

How Tariffs AffectP&C Insurance Prospects

Triple-I: Homeowners Insurance

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. Tariffs and threats of tariffs have been roiling financial markets since January.