Top Trends in Auto and Home Insurance Underwriting

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This PowerPoint presentation prepared by Robert Hartwig, president of the Insurance Information Institute, highlights a dozen trends affecting homeowners and auto insurance underwriting. The report opens with a discussion of pricing and performance trends. Exposure trends are reviewed in light of the recession, unemployment and the credit crisis, all of which have hurt personal lines exposures. Concerning economic trends, the report notes that claims behavior can be influenced by recession and recovery. The presentation also looks at key cost drivers in auto insurance, claim trends in auto insurance, underwriting trends in auto and home insurance, and trends in fraud and abuse. Concerning the last it is noted that skyrocketing no-fault (PIP) claim costs are a major concern in several states, particularly New York. Finally slides illustrate catastrophe loss trends, how demographic trends impact personal lines and trends in underwriting technology.

 

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