Insurance Journal

NOVEMBER 17, 2024

Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by steady growth in net written premiums (NWP), according to the Insurance Information Institute (Triple-I), an …

Commercial 245

Commercial Auto Insurance Underwriter Underwriting 245

Rough Notes

DECEMBER 2, 2024

Harrington, CPCU If insurance underwriting were a reality television show, commercial auto underwriting would be cast as the ultimate challenge of endurance for the participants. The quest for stability endures as determined providers carry on By Joseph S.

Auto Insurance 105

Auto Insurance Commercial Underwriter Underwriting 105

Insurance Journal

DECEMBER 1, 2024

commercial auto insurance segment sustained a $5 billion net loss in 2023, a new AM Best report indicates further deterioration in the first half of 2024. Despite targeted underwriting initiatives, including raising premiums to match the rising … After the U.S.

Commercial 130

Commercial Auto Insurance Underwriter Underwriting 130

Triple-I: Business Insurance

OCTOBER 25, 2024

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.

Underwriter 52

Underwriter Underwriting Commercial Auto Insurance 52

American Agents Alliance

APRIL 3, 2025

Many industries are feeling the uncertainty of tariffs and changing trade policies, which can make underwriting more challenging and pricing less certain. This could create the need for frequent rate changes, adding to consumer uncertainty.

Agents 52

Agents Policyholder Premium Auto Insurance 52

Triple-I: Homeowners Insurance

OCTOBER 10, 2024

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

Commercial 68

Commercial Underwriter Underwriting General Liability 68

Majesco

MARCH 27, 2025

Auto insurance repair costs align strongly with the number of claims, increasing and driving up insurance costs. Weather and catastrophic events, crime, more frequent and larger lawsuits, and high-tech vehicles also contribute significantly to their perceptions of what is driving up auto insurance costs.

Auto Insurance 52

Auto Insurance Insurer Insurance Insured 52

Friendly Agent

SEPTEMBER 11, 2020

commercial underwriter, personal lines underwriter all 3 in my office, all with my binder… appointment ON THE SPOT!” CoverWallet for Agents ( Commercial Insurance) With Coverwallet you just need license and Errors and omission coverage to get started on their platform. Got 5 out-of-5 appointments.

Insurance Carrier 130

Insurance Carrier License Agents Insurer 130

Triple-I: Homeowners Insurance

JUNE 27, 2024

By Lewis Nibbelin, Guest Blogger for Triple-I Home and auto insurance premium rates have been a topic of considerable public discussion as rising replacement costs and other factors – from climate-related losses to fraud and legal system abuse – have driven rates up and, in some states, crimped availability and affordability of coverage.

Underwriter 52

Underwriter Underwriting Insurer Insurance 52

Triple-I: Business Insurance

AUGUST 11, 2022

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.

Underwriter 40

Underwriter Underwriting Workers Compensation Premium 40

American Agents Alliance

MARCH 3, 2025

AI has rapidly transformed the insurance industry and more changes will continue as the technology and use cases mature. New efficient processes and workflows for underwriting, claims, policy administration, billing, and customer service have been implemented across the industry.

Broker-Agent 52

Broker-Agent Broker Agents Risk 52

Triple-I: Homeowners Insurance

DECEMBER 3, 2024

They also rank among the least affordable places for auto and homeowners’ insurance by the Insurance Research Council – an affiliate of The Institutes , like Triple-I. But as the state’s bodily injury claims climb well over the national average, more reform is needed to return insurance profitability to the state.

Out-Of-Pocket 65

Out-Of-Pocket Broker-Agent Premium Claim 65

Freeway Insurance

OCTOBER 26, 2023

Does where you live have an impact on how much you pay for car insurance? Surprisingly, it does indeed make a difference where you live when your insurer is determining what you’ll be quoted for your auto insurance coverage. What Other Factors Determine What I’ll Pay for Auto Insurance?

Crime 52

Crime Auto Insurance Insurer Insurance 52

Majesco

DECEMBER 5, 2024

Insurance buyer demographics are constantly shifting, and this means that insurance business practices can become out of touch. Anything from quoting to underwriting, servicing, billing or claims may no longer operate at the level expected by customers, putting trust and loyalty at risk. This is consistent with the J.D.

Auto Insurance 40

Auto Insurance Insurer Insurance Insured 40

TGS

NOVEMBER 20, 2024

Beyond Credit: Other Ways to Save on Home Insurance Improving your credit score is one strategy, but it’s not the only one. Here are a few additional ways to lower your premiums: Bundle Your Policies: Combine your home and auto insurance for a discount.

Home Insurance 52

Home Insurance Premium Insurer Insurance 52

Majesco

OCTOBER 10, 2024

Given the dramatically rising costs for auto insurance, there is increased interest among customers in usage-based and telematic insurance to help manage or drive down insurance premiums. But the operating model and how we think about the operating model needs to be reinvented.

Risk 40

Risk Auto Insurance Premium Underwriter 40

InsuredMine

OCTOBER 25, 2024

Rise of Usage-Based Insurance (UBI) Usage-based insurance models are expected to become more widespread across various insurance lines. Sustainability considerations will become integral to underwriting decisions, with insurers increasingly promoting green practices through their products and pricing strategies.

Risk 59

Risk Insurance Industry Business Interruption Claim 59

Triple-I: Business Insurance

JUNE 8, 2022

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.

Policyholder 40

Policyholder Risk Underwriter Underwriting 40

Majesco

APRIL 11, 2024

If we don’t get down to addressing the loss ratio — underwriting, pricing, risk selection, and claims management — for many carriers, even if they cut costs by 100%, they’re still not going to be profitable. This isn’t just because of the size of their expense ratio. Raising rates, for example, does not keep up with macro changes.

Commercial Property 40

Commercial Property Risk Claim Deductible 40

Majesco

DECEMBER 12, 2024

Insurers pulled reports and data that were freely available. These were sufficient to improve underwriting or claims. But the good news for insurers and their desire to use AI is that data is important enough now to have a face of its own customers think about it and most customers understand how it improves risk and pricing.

Insurer 40

Insurer Insurance Insured Risk 40

Triple-I: Workers Compensation

APRIL 20, 2021

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.”

Risk 40

Risk Workers Compensation Commercial General Liability Liability 40