The National Insurance Crime Bureau (NICB) reported less than 1 million vehicles were stolen in 2024 – a drop below the one million mark for the first time since 2021 and the largest decrease in stolen vehicles in the last 40 years. The 2024 figure is a 16.7 percent decrease from 2023.
The countrywide average auto insurance expenditure increased 6.1 percent to $1,127 in 2022 from $1,062 in 2021, according to the National Association of Insurance Commissioners. In 2022 (the latest data available), the average expenditure was highest in Florida ($1,625), followed by Louisiana ($1,558), and New York ($1,549).
The average homeowners insurance premium rose by 11.2 percent in 2022 from 2021, according to a May 2025 study by the National Association of Insurance Commissioners, the latest data available. The average renters insurance premium rose by 0.6 percent in 2022 breaking seven consecutive annual declines.
The official Atlantic hurricane season runs from June through November, but occasionally storms form outside those months. Seasonal hurricane forecasting from Colorado State University is available here.
Convective storms result from warm, moist air rising from the earth, and depending on atmospheric conditions, may develop into tornadoes, hail, thunderstorms with lightning, or straight-line winds. Convective storms are the most common and damaging natural catastrophes in the United States, according to Triple-I’s May 2020 white paper, Severe convective storms: Evolving risks call for innovation to reduce costs, drive resilience.
Risk financing helps organizations achieve the strategic balance of risk management—aligning the willingness and ability to take risk with business goals. Generally, the objective of financing risk is to ensure liabilities are either paid or cost-effectively financed while maintaining an adequate level of internal liquidity. Sometimes, this strategy includes planning to meet legal or regulatory requirements.
Organizations looking for a flexible risk financing option may use a captive insurer or captive – a special type of insurance company set up by a parent company, trade association, or group of companies to insure the risks of its owner or owners. Often liability coverage for insuring certain risks with commercial carriers might not be cost effective, customizable, or even available at all. Forming a captive can provide tax benefits. Additionally, captives can provide access to the reinsurance market, using a variety of reinsurance mechanisms to provide coverage.
Guiding Principles for Triple-I Insurance Economics
Triple-I Insurance Economics and Data Analytics is the go-to-destination for data-driven insight into the relationship between economics and insurance performance. Led by our Chief Economist and Data Scientist, Dr. Michel Léonard, CBE, the practice aims to provide Triple-I members, industry stakeholders, and the general public a one-stop resource for property/casualty (P/C) data-driven insight including: