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For Immediate Release New York Press Office: Loretta Worters, 917-208-8842, lorettaw@iii.org NEW YORK, June 6, 2023—The official start of the 2023 Atlantic hurricane season kicked off June 1, and is forecast to be a busy one, which is why homeowners need to prepare....
For immediate release Florida Press Office: Mark Friedlander, 904-806-7813, markf@iii.org ST. JOHNS, Fla., June 1, 2023—An updated 2023 Atlantic hurricane season forecast released today by Colorado State University (CSU) envisions a “near-average” level of tropical cyclone activity in the Atlantic basin between June and November....
For immediate release West Coast Press Office: Janet Ruiz, 707-490-9365, janetr@iii.org HIDDEN VALLEY LAKE, Calif., May 30, 2023—The 2023 California wildfire season’s peak is expected to occur between August and November because the state’s exceptionally wet winter has likely delayed its start, according to the Insurance Information Institute (Triple-I)....
For Immediate Release New York Press Office: Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, May 24, 2023 —The Institutes’ premiere Predict & Prevent podcast is now live and features a 30-minute interview with Sean Kevelighan, CEO, Insurance Information Institute (Triple-I). Launched this spring, The Institutes Predict & Prevent initiative offers insights and analysis on the biggest risk challenges facing society today, from natural disasters to cyberattacks....
For Immediate Release New York Press Office: Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, May 19, 2023 —To highlight how homeowners can protect themselves from dishonest contractors, the Insurance Information Institute (Triple-I) and the National Insurance Crime Bureau (NICB) are marking Contractor Fraud Awareness Week (May 22-26, 2023)....
For Immediate Release Triple-I: Loretta Worters, lorettaw@iii.org Milliman: Jeremy Engdahl-Johnson, jeremy.engdahl-johnson@milliman.com NEW YORK – May 15, 2023 --The 2022 net combined ratio for the property/casualty insurance industry was 102.4, with underwriting losses for personal lines partially offset by underwriting gains for commercial lines. The divergence in performance was particularly stark, with personal lines logging a combined ratio of 109.9 vs....
For immediate release Florida Press Office: Mark Friedlander, 904-806-7813, markf@iii.org ST. JOHNS, Fla., April 27, 2023—The start of what is forecast to be a “slightly below-average” Atlantic hurricane season is weeks away and the Insurance Information Institute (Triple-I) is recommending homeowners, condo owners, renters and business owners prepare now....
For immediate release New York Press Office: Loretta Worters, 917-208-8842; lorettaw@iii.org NEW YORK, April 24, 2023—Fires resulting from lightning strikes cause 3 to 5 percent of all U.S. commercial property insurance claims, accounting cumulatively for more than $2 billion annually in covered payouts to small and medium-sized businesses (SMBs), according to the Insurance Information Institute (Triple-I) and the Lightning Protection Institute (LPI)....
For immediate release Florida Press Office: Mark Friedlander, 904-806-7813, markf@iii.org ST. JOHNS, Fla., April 13, 2023—A slightly below-average level of tropical cyclone activity is projected for 2023 in the Atlantic basin, according to a forecast released today by Colorado State University’s (CSU) Department of Atmospheric Science....
For immediate release California Press Office: Janet Ruiz, 707-490-9365, janetr@iii.org NEW YORK, April 6, 2023—U.S. insurers paid out more than $1 billion in dog-related injury claims in 2022, a double-digit percentage increase over 2021 even though the number of claims decreased within that timeframe, according to the Insurance Information Institute (Triple-I) and State Farm....
For Immediate Release New York Press Office: Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, April 4, 2023—Michigan’s personal auto insurers are paying out less in claims and drivers are paying less in premiums since changes were made to the state’s no-fault system in 2020 and policyholders are benefiting, two non-resident scholars at the Insurance Information Institute (Triple-I) have found....
For immediate release New York Press Office: Loretta Worters, 917-208-8842, lorettaw@iii.org NEW YORK, April 3, 2023—U.S....
For Immediate Release Florida Press Office: Mark Friedlander, 904-806-7813, markf@iii.org TAMPA, Fla., March 30, 2023—Sean Kevelighan, CEO, Insurance Information Institute (Triple-I) is one of three panelists on tomorrow’s (March 31) Premier Panel at the Claims and Litigation Management (CLM) Alliance’s annual conference....
For Immediate Release New York Press Office: Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, March 30, 2023—Slow underlying growth and inflation are among the biggest challenges facing U.S. auto, home, and business insurers, according to the Insurance Information Institute’s (Triple-I’s) Q1 2023 Economic Outlook. The Outlook’s key takeaways are below: Property/casualty (P/C) insurance, a category which includes U.S....
For immediate release New York Press Office: Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, March 29, 2023—Laura Favinger, chief of staff at the Insurance Information Institute (Triple-I), is retiring this week after a distinguished 30-plus year career in the insurance industry, the Triple-I announced today....
For immediate release Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, March 28, 2023—Louisiana’s insurers paid out more than $23 billion after the 2020 and 2021 hurricane seasons, driving a number of them into insolvency, according to an Issues Brief released today by the Insurance Information Institute (Triple-I)....
For Immediate Release New York Press Office: Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, March 22, 2023—Reporters covering today’s U.S. Senate hearing, Risky Business: How Climate Change is Changing Insurance Markets, are encouraged to contact the Insurance Information Institute (Triple-I) for interviews and analysis. “Insurers are taking a responsible approach toward promoting a more sustainable and resilient environment and economy....
For Immediate Release Contact: Loretta Worters, Insurance Information Institute (Triple-I), 917-208-8842; lorettaw@iii.org NEW YORK, March 21, 2023—Group captive insurance can be a source of value for certain companies in these inflationary times. A form of self-insurance for organizations with specific attributes, a group captive can help lower the costs and improve cash flow for certain risks, with the added benefit of returning unused loss funds and income to members…...
For immediate release Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, March 16, 2023—Spring is the right time to review a residence’s homeowners insurance policy given the unpredictable weather the season usually brings, according to the Insurance Information Institute (Triple-I)....
For Immediate Release Contact: Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, March 6, 2023—U.S. commercial auto insurance liability claim payouts increased $30 billion more than would otherwise have been expected between 2012 and 2021 due in part to social inflation, according to an updated paper published today by the Insurance Information Institute (Triple-I), in partnership with the Casualty Actuarial Society (CAS)....
For Immediate Release Contact: Mark Friedlander, 904-806-7813, markf@iii.org ST. JOHNS, Fla., Feb. 16, 2023—A new Florida law and proposals announced this week have the potential to reduce the cost of homeowners insurance in the state, according to a just-released Issues Brief from the Insurance Information Institute (Triple-I)....
Contact: Loretta Worters, Insurance Information Institute (Triple-I), 917-208-8842; lorettaw@iii.org NEW YORK, Feb. 9, 2023—U.S. auto and homeowners insurance premium rates lagged behind the inflation rate in 2020 and 2021, laying the groundwork for the premium increases which occurred last year and will continue into 2023, according to the Insurance Information Institute (Triple-I)....
For Immediate Release Triple-I: Loretta Worters, lorettaw@iii.org Milliman: Jeremy Engdahl-Johnson, jeremy.engdahl-johnson@milliman NEW YORK – Feb. 7, 2023 – The 2022 combined ratio for the property/casualty insurance industry is forecast to be 105.8, a worsening of 6.3 points from 2021....
For Immediate Release Florida Press Office: Mark Friedlander, 904-806-7813, markf@iii.org SAN DIEGO, Feb. 6, 2023—The Insurance Information Institute’s (Triple-I) California market expert is moderating a keynote session at the Wildfire Resilient Structures (WiRes) Conference and Tradeshow on Thursday, Feb. 9, in San Diego, Triple-I announced today....
For Immediate Release Contact: Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, Feb. 2, 2023—The Insurance Information Institute (Triple-I) illustrates in its just-published 2022 Annual Report the organization’s accomplishments during its second full year as an affiliate of The Institutes....
For Immediate Release New York Press Office: Loretta Worters, 917-208-8842, lorettaw@iii.org NEW YORK, Jan. 30, 2023—The federal government reports 2.8 million people in the U.S....
For immediate release Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, Jan. 23, 2023—With boat shows being held this week in Louisville, Houston and New York, the Insurance Information Institute (Triple-I) reminds prospective boat owners to secure the right type and amount of coverage when buying a recreational vessel....
For Immediate Release New York Press Office: Loretta Worters, 917-208-8842, lorettaw@iii.org NEW YORK, Jan. 19, 2022—The underlying economic growth of U.S. auto, home, and business insurers is likely to increase faster than the rest of the U.S. economy in 2023, according to the Insurance Information Institute’s (Triple-I) just-released Insurance Economic Outlook....
For immediate release West Coast Press Office: Janet Ruiz, 707-490-9365, janetr@iii.org SAN FRANCISCO, Jan....