80 Years of Property Losses: What Will it Take to Survive to Next 80 Years?

This presentation by the president of the Insurance Information Institute, delivered at a meeting commemorating the 80 year anniversary of the Loss Executives Association, examines long-term trends in property/casualty insurance industry losses and identifies elements critical to future success. Dr. Hartwig calculates that property/casualty insurers have paid $7.2 trillion in claims since 1931, or $12.5 trillion after adjusting for inflation. Key sections of the presentation include: 80 Years: The Dollars and Cents; Profits, Profitability and Claims Paying Ability; Claims Paying and Investment Performance and Volatility, with the Great Recession as a Case Study; External Challenges, including a Shifting Tort Environment; Claims Paying Capacity and the Economy; U.S. and Global Catastrophe Loss Trends.