It’s not just some Florida-domiciled insurance carriers that have allegedly altered field adjusters’ reports or low-balled property damage estimates in recent years. It’s also major national insurers, according to adjusters and policyholders who spoke at a recent U.S. Senate hearing …
Author: Admin
mf5atl
Hard Market, Valuable Research, Public Perception & Antitrust Litigation Pressure Higher Education World
The U.S. higher education insurance market is as diverse as the academic degrees these institutions offer. But one recent challenge facing the sector is a downturn in public trust that may be contributing to the increased frequency and severity of …
Viral Work Trends Q&A: A Fun Way for Your Agency to Discuss Recruiting
Recruitment doesn’t have to be a dull subject. Imagine discussing it in a more enjoyable way at your next management meeting. Viral work trends are an excellent starting point. TikTok alone has 115,000 videos tagged with #CareerTok and over 1 …
Significant Tort Reform Advances in Louisiana
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…
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…
Louisiana Senator Seeks Resumption of Resilience Investment Program
By Lewis Nibbelin, Contributing Writer, Triple-I Louisiana Sen. Bill Cassidy recently took to the Senate floor to call for restoration of FEMA’s Building Resilient Infrastructure and Communities (BRIC) program, whose elimination the agency announced on April 4. Established by Congress through the Disaster Recovery Reform Act of 2018, the BRIC program has allocated more than $5…
Why your EV insurance premium is costlier and features you must have in EV motor insurance policy
Electric vehicle insurance premiums are notably higher than those for traditional cars due to EVs’ higher purchase prices and costly battery replacements. Specialized parts, the need for trained technicians, and limited repair networks further contribute to increased costs. Comprehensive policies with battery protection, zero depreciation, and roadside assistance are crucial for EV owners to mitigate…
ClimateTech Connect Confronts Climate Peril From Washington Stage
The Institutes’ Pete Miller and Francis Bouchard of Marsh McLennan discuss how AI is transforming property/casualty insurance as the industry attacks the climate crisis. “Climate” is not a popular word in Washington, D.C., today, so it would take a certain audacity to hold an event whose title prominently includes it in the heart of the…
BRIC Funding Loss Underscores Need for Collective Action on Climate Resilience
The Trump Administration’s unwinding of the Building Resilient Infrastructure and Communities (BRIC) program and cancellation of all BRIC applications from fiscal years 2020-2023 reinforce the need for collaboration among state and local government and private-sector stakeholders in climate resilience investment. Congress established BRIC through the Disaster Recovery Reform Act of 2018 to ensure a stable…