Louisiana’s Senate passed five tort reform bills last week to curb legal system abuse driven by billboard attorneys in the Pelican State. The legislative success represents the culmination of sustained advocacy efforts – including a Triple-I-backed awareness campaign, StopLegalSystemAbuse.org – to build public support. The new legislation addresses Louisiana’s longstanding challenges with high insurance premiums…
Month: May 2025
P&C Insurance Achieves Best Results Since 2013; Wildfire Losses, Tariffs Threaten 2025 Prospects
By William Nibbelin, Senior Research Actuary, Triple-I The U.S. P&C insurance industry’s financial outcomes for 2024 revealed a net combined ratio (NCR) of 96.6, demonstrating a substantial 5.1-point enhancement compared to the prior year and representing the sector’s most favorable underwriting performance since 2013, as detailed in a recent report by Triple-I and Milliman. However,…
Florida Senate RejectsLegal-Reform Challenge
By Lewis Nibbelin, Contributing Writer, Triple-I The Florida House’s attempt to curtail recent legal system reforms met firm resistance from the state Senate this week, preserving the 2022 and 2023 legislation that stabilized the state’s property insurance market. Aiming to reinstate one-way attorney fees in insurance litigation, the House added an amendment – originally part…