By William Nibbelin, Senior Research Actuary, Triple-I Insurance is priced to reflect the underlying risk of every policy. When more claims are filed and the average amount paid of those claims increases, insurance becomes more expensive. A measure of underwriting profitability for insurance carriers is the combined ratio calculated as losses and expense divided by … Read more
By Lewis Nibbelin, Contributing Writer, Triple-I Spanning over 500 miles of the southeastern United States, Hurricane Helene’s path of destruction has drawn public attention to inland flood risk and the need for improved resilience planning and insurance purchase (“take up”) to confront the protection gap. Extreme rainfall and wind inflicted a combination of catastrophic flooding, … Read more
By Dale Porfilio, Chief Insurance Officer, Insurance Information Institute As part of its ongoing work to raise awareness of the impacts of legal system abuse, the Insurance Information Institute (Triple-I) launched a multi-faceted campaign focusing on Georgia. The campaign includes an Interstate 20 billboard in Downtown Atlanta and digital billboards on bus stops and other … Read more
By Lewis Nibbelin, Contributing Writer, Triple-I First-time buyers comprised only 32 percent of the housing market in 2023, according to an annual profile by the National Association of Realtors. Though higher compared to 2022, this number is a stark drop from the 38 percent annual average since 1981. The ongoing risk crisis and housing shortage, … Read more
Despite strong income growth that has helped improve personal auto insurance affordability in Louisiana, the state remains the least affordable among its Southern neighbors and the rest of the United States, according to the Insurance Research Council (IRC). In 2022, the average annual premium expenditure per vehicle for auto insurance in Louisiana was $1,588, which … Read more
