Flood is no longer an “untouchable” risk for private insurers. In fact, data suggests insurers see it as a growing area of opportunity. That’s good news for homeowners who understand the evolving nature of the peril.

For decades, FEMA’s National Flood Insurance Program (NFIP) was practically the only available option for homeowners to obtain flood coverage. Improved data, analysis, and modeling have helped drive increased private-sector interest in flood-risk transfer and mitigation.

Workers Compensation

In recent years, workers compensation insurance has been the most profitable property/casualty line of business, having experienced its sixth consecutive year of combined ratios under 90 and its ninth straight year of underwriting gains. While the broader industry has suffered, workers comp has benefited from a generally strong economy and, in particular, strong growth in payrolls.

Hurricanes

A distinguishing feature of the 2023 Atlantic hurricane season is a tug-of-war between a shift from cool- to warm-water conditions in the central Pacific Ocean and exceedingly warm tropical Atlantic waters. These warming conditions are part of a global pattern that is now outpacing anything seen in four decades of satellite observations.

The risk landscape is always changing. Triple-I Issues Briefs are designed to provide timely snapshots of specific risk areas (“State of the Risk”), as well as broader issues and trends (“Trends and Insights”).

This growing library will be regularly updated as a ready resource for your own research or to inform conversations with industry professionals, policymakers, media, and policyholders.

Growth and role of property/casualty insurance

Sharing, or pooling, of risk is the central concept of the business of insurance. The idea has the beauty of simplicity combined with practicality.

There are many insurance companies, so choosing between them can be a challenge. Here are the main points to keep in mind when selecting an insurance company: