Improved loss ratios, strong premium growth, and lower retention rates characterized the U.S. auto insurance industry in 2024, according to LexisNexis® Risk Solutions’ 2025 U.S Auto Insurance Trends Report. The report shows that, “while a number of insurers returned to profitability as the market softened,” the market was characterized by “record levels of policy shopping and…
Category: Auto Insurance
Parents Eye IoTto Address Perilsof Teen Driving
Parents are increasingly open to using technology to keep their teen drivers safe on the road, a recent survey from Nationwide finds. The survey found 4 out of 5 parents would enroll their teens in telematics programs that reward safe driving. This enthusiasm for tech-based solutions comes despite mixed parental assessments of their teens’ driving…
Personal Auto Shines, General Liability Faces Headwinds in Q3 2025
By William Nibbelin, Senior Research Actuary, Triple-I The U.S. property/casualty (P/C) insurance industry is entering the latter half of 2025 with a nuanced underwriting landscape, as revealed in the latest “Insurance Economics and Underwriting Projections: A Forward View” report from Triple-I and Milliman. While personal auto continues to be a strong performer, the general liability…
Insurance Affordability, Availability Demand Collaboration, Innovation
By Lewis Nibbelin, Contributing Writer, Triple-I Insurance industry executives and thought leaders gathered yesterday for Triple-I’s Joint Industry Forum (JIF) in Chicago to discuss the trends, economics, geopolitics, and policy influencing the market today, as well as ways to navigate these complexities while focusing on making their products affordable and available for consumers. Triple-I CEO…
Personal Auto 2024 Underwriting Results Best Since Pandemic
By William Nibbelin, Senior Research Actuary, Triple-I The U.S. personal auto insurance industry saw a significant turnaround in 2024, achieving its best underwriting result since the pandemic began, according to Triple-I’s latest Issues Brief. In fact, with a net combined ratio of 95.3, personal auto insurance has outperformed the broader property and casualty (P/C)…
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…
Tariff Uncertainty May Strain Insurance Markets, Challenge Affordability
Chief Economist and Data Scientist, Dr. Michel Léonard Recent tariffs issued by U.S. President Donald Trump are on track to increase the price of parts and materials used in repairing and restoring property after an insurable event. Analysts and economists, predict these price hikes will lead to higher claim payouts for P&C insurers and, ultimately,…
Despite Progress, California Insurance Market Faces Headwinds
Even as California moves to address regulatory obstacles to fair, actuarially sound insurance underwriting and pricing, the state’s risk profile continues to evolve in ways that impede progress, according to the most recent Triple-I Issues Brief. Like many states, California has suffered greatly from climate-related natural catastrophe losses. Like some disaster-prone states, it also has…