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Navigating the Turbulent Waters of Casualty Insurance: Insights from Industry Experts

Zywave

The casualty insurance market is currently experiencing unprecedented volatility, with significant pricing fluctuations and escalating loss costs becoming the norm. And when you take into consideration that Direct Premiums Written (DPW) increased by 2.0% million loss records.

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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. The average risk-adjusted cost for 2024 was -0.7 percent, a large reduction from last years change of 27 percent increase from the prior year.

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Legal Reforms Boost Florida Insurance Market; Premium Relief Will Require More Time

Triple-I: Homeowners Insurance

Legislative reforms put in place in 2022 and early 2023 to address legal system abuse and assignment-of-benefits claim fraud in Florida are beginning to help the state’s property/casualty insurance market recover from its crisis of recent years, according to a new Triple-I Issues Brief. With only 15 percent of U.S.

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Outdated Building Codes Exacerbate Climate Risk

Triple-I: Homeowners Insurance

By Lewis Nibbelin, Contributing Writer, Triple-I Natural catastrophe perils rising frequency and severity may be impossible to fully abate, but Nationwide Property & Casualty Insurance Co. President and CEO Mark Berven believes modern building codes could dramatically reduce their costly destructiveness. “The U.S.

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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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Group Captives Offer Cost-Sensitive Companies Opportunities to Savein Face of Inflation

Triple-I: Workers Compensation

Group captives recruit safety-conscious companies with better-than-average loss experience, with each member’s premium based on its own most recent five-year loss history. Each owner makes a modest initial capital contribution,” states the paper, Group Captives: An Opportunity to Lower Cost of Risk.

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

Triple-I: Homeowners Insurance

As we’re trying to raise awareness of this problem with consumers, ‘social inflation’ doesn’t work,” said discussion moderator and Triple-I’s Chief Insurance Officer Dale Porfilio. Secrecy surrounding TPLF prevents insurers and regulators from identifying, let alone mitigating, the risks of increased costs and time to resolve claims disputes.