News Center
The trusted source of unique, data-driven insights on insurance to inform and empower consumers.
Surge in U.S. auto insurer claim payouts due to economic and social inflation
The latest Insurance Information Institute (Triple-I) research indicates that between 2013 and 2022, economic and social inflation fueled a $96 to $105 billion increase in combined claim payouts for U.S. personal and commercial auto insurer liability. The report “Impact of Increasing Inflation on Personal and Commercial Auto Liability Insurance” outlines Triple-I’s continued exploration of the … Continue reading Surge in U.S. auto insurer claim payouts due to economic and social inflation →
POSTED SEPTEMBER 28, 2023 2:04 PM |
Attacking the Risk Crisis: Roadmap to Investmentin Flood Resilience
As part of its attack on the risk crisis, Triple-I recently participated in a project led by the National Institute of Building Sciences (NIBS) to develop a roadmap for mitigation investment incentives. The Resilience Incentivization Roadmap 2.0 builds off research NIBS published in 2019 and focuses on urban pluvial flooding, though many of the principles can be … Continue reading Attacking the Risk Crisis: Roadmap to Investmentin Flood Resilience →
POSTED SEPTEMBER 28, 2023 1:56 PM |
How Proposition 103 Worsens Risk CrisisIn California
California is not the only U.S. state struggling with insurance availability and affordability, but — as described in a new Triple-I Issues Brief — its problems are exacerbated by a three-decades-old legislative measure that severely constrains insurers’ ability to profitably insure property in the state. Instead of letting insurers use the most current data and … Continue reading How Proposition 103 Worsens Risk CrisisIn California →
POSTED SEPTEMBER 21, 2023 4:59 PM |
It’s Not an “Insurance Crisis” — It’s a Risk Crisis
Ten states – Louisiana, Florida, Idaho, Kentucky, Mississippi, Montana, North Dakota, South Carolina, Texas, and Virginia – as well as additional plaintiffs, are suing the Federal Emergency Management Agency (FEMA) over its new methodology for pricing flood insurance, Risk Rating 2.0. On Sept. 14, a federal hearing lasted six hours as the plaintiffs sought a … Continue reading It’s Not an “Insurance Crisis” — It’s a Risk Crisis →
POSTED SEPTEMBER 20, 2023 4:28 PM |
Shutdown Threat Looms Over U.S. Flood Insurance
Even as the 2023 Atlantic hurricane season proves to be more intense than originally predicted, federal funding for the National Flood Insurance Program (NFIP) is threatened by a potential government shutdown. Funding for NFIP will expire after September 30 if lawmakers don’t reach a deal. Claims on existing policies would still get paid if NFIP … Continue reading Shutdown Threat Looms Over U.S. Flood Insurance →
POSTED SEPTEMBER 18, 2023 3:05 PM |
Michigan Drivers Benefit From No-Fault Reforms; Rulings Constrain Gains
By Max Dorfman, Research Writer, Triple-I The success of Michigan’s no-fault insurance reforms at reining in claims and contributing to premium reductions for many drivers has been crimped by adverse court decisions in cases contesting the reforms and other factors, according to new research by two Triple-I non-resident scholars. Michigan can be viewed as “an … Continue reading Michigan Drivers Benefit From No-Fault Reforms; Rulings Constrain Gains →
POSTED SEPTEMBER 14, 2023 6:50 PM |
IRC: Consumers Deem Most Rating Factors Fair
By Max Dorfman, Research Writer, Triple-I Most consumers believe the majority of personal insurance rating factors that insurers use to underwrite and price homeowners and auto coverage are fair, according to a new survey by the Insurance Research Council (IRC) – like Triple-I, an affiliate of The Institutes. But there was some variation regarding which variables they consider … Continue reading IRC: Consumers Deem Most Rating Factors Fair →
POSTED SEPTEMBER 12, 2023 3:39 PM |
NAIC Seeks Granular Data From Insurers to Help Fill Local Protection Gaps
Data is at the core of risk management, and the National Association of Insurance Commissioners (NAIC) is seeking to identify gaps in the data state regulators collect from insurers – particularly with respect to understanding insurance availability and affordability. “The increasing frequency and severity of weather events, rising reinsurance costs, and inflationary pressures are making … Continue reading NAIC Seeks Granular Data From Insurers to Help Fill Local Protection Gaps →
POSTED SEPTEMBER 05, 2023 9:43 PM |
How Liberty Mutual Foundation BringsRisk ManagementInto Communities
By Max Dorfman, Research Writer, Triple-I Nature-based solutions, green jobs, and resilient infrastructure are at the core of Liberty Mutual Foundation’s approach to helping marginalized communities that are most vulnerable to climate-related perils. “We believe investing philanthropically in communities to help them mitigate and adapt to the impact of climate change is a natural extension … Continue reading How Liberty Mutual Foundation BringsRisk ManagementInto Communities →
POSTED AUGUST 28, 2023 2:51 PM |
Keep It Simple:Security System Complexity Correlates With Breach Costs
By Max Dorfman, Research Writer, Triple-I Artificial intelligence is helping to limit the costs associated with data breaches, a recent study by IBM and the Ponemon Institute found. While these costs continue to rise, they are increasing more slowly for some organizations – in particular, those using less-complex, more-automated security systems. According to the study, … Continue reading Keep It Simple:Security System Complexity Correlates With Breach Costs →
POSTED AUGUST 23, 2023 7:22 PM |
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