Severe convective storms (SCS) are emerging as a major driver of U.S. property insurance costs, with large hail events alone damaging nearly 600,000 homes in 2024, according to an analysis by CoreLogic. SCS weather events, which include damaging hail, tornadoes, straight-line winds and derechos, are becoming a significant driver of insured natural disaster losses across … Read more
By Lewis Nibbelin, Contributing Writer, Triple-I The Georgia Senate recently approved legislation aimed at curbing the state’s soaring litigation. Backed by Georgia Gov. Brian Kemp, Senate Bill 68 is designed to facilitate more equitable courtroom outcomes and stabilize insurance rates. Among other provisions, the bill includes a cap on pain and suffering evidence that would … Read more
South Carolina’s liquor liability insurance market is in crisis, with insurers losing an average of $1.77 for every $1.00 of premium earned since 2017, while claim frequencies significantly outpace neighboring states, according to a recent study by the state’s Department of Insurance. The comprehensive analysis, initiated following a 2019 request by the South Carolina Senate … Read more
In 2023, despite nearly universal legal requirements to have auto insurance, more than one in seven drivers (15.4 percent) nationally were uninsured, and more than one in six drivers (18.0 percent) were underinsured, according to the new report, Uninsured and Underinsured Motorists: 2017–2023, by the Insurance Research Council (IRC), affiliated with The Institutes. Across the … Read more
By Lewis Nibbelin, Contributing Writer, Triple-I Garnering millions of weekly users and over a billion user messages every day, the generative AI chatbot ChatGPT became one of the fastest-growing consumer applications of all time, helping to lead the charge in AI’s transformation of business operations across various industries worldwide. With generative AI’s rise, however, came … Read more
