Triple-I News
Insurers to Play a Critical Role in Pioneering Ethical AI: Report
A new report explores insurers' cross-industry opportunity to influence the responsible development, use of artificial intelligence (AI) and help establish regulatory best practices. The report, ...
P/C Premium Growth Likely But Profits Delayed Until 2025: Forecast
Favorable first-quarter economic and underwriting results for property/casualty insurance are in line with projections that the industry will see a small underwriting loss in 2024 and achieve ...
Triple-I: Legal Reforms Tamp Down Florida Home Insurance Rates in 2022, 2023
Home insurance premiums in Florida rose at a much lower rate than originally projected in 2022 (41 percent less) and 2023 (80 percent less), according to analysis by researchers at the Insurance ...
Lightning Caused $1.2B in U.S. Homeowners Claim Payouts in 2023: Triple-I
Damage to U.S. homes due to lightning resulted in $1.2 billion being paid out in homeowners insurance claims in 2023. Last year, lightning affected 70,000 policyholders, with $194 million ...
Triple-I: Slowdown in U.S. P/C Replacement Costs Likely Short-Lived
Property/casualty replacement costs in the U.S. are increasing at a slower pace than overall inflation and will likely continue to do so for the next 24 months, according to the Insurance Information ...
Triple-I: Signs of Improvement in Florida Property Insurance Market After Reforms
Fraught with fraud and litigation abuse, the Florida insurance market is finally showing signs of stabilization amid legislative reforms passed in 2022 and 2023, according to a new Triple-I Issues ...
Triple-I: Insurance Economic Drivers Outperform Overall U.S. GDP
The economic drivers of the U.S. property/casualty (P/C) insurance industry are growing faster than the nation's Gross Domestic Product (GDP) and are expected to gain further momentum in the event of ...
Triple-I: Regulatory Restrictions Contribute to Risk Crisis in California
Regulatory restrictions to actuarially sound insurance pricing and underwriting, coupled with the need for more mitigation and resilience efforts in the state of California, are placing financial ...