By Lewis Nibbelin, Contributing Writer, Triple-I Identifying opportunities to mitigate climate risk was on the minds of “Risk Take” presenters at Triple-I’s 2024 Joint Industry Forum (JIF). Risk Takes – a new addition at JIF – are 10-minute problem/solution-oriented presentations by high-impact experts who are deeply engaged in addressing specific perils. Inserted between panel discussions … Read more
By Lewis Nibbelin, Contributing Writer, Triple-I Technological innovations — particularly generative AI — are revolutionizing insurance operations and risk management more quickly than the industry can fully accommodate them, necessitating more proactive involvement in their implementation, according to participants in Triple-I’s 2024 Joint Industry Forum. Such involvement can ensure that the ethical implications of AI … Read more
California’s Department of Insurance last week posted long-awaited rules that remove obstacles to profitably underwriting coverage in the wildfire-prone state. Among other things, the new rules eliminate outdated restrictions on use of catastrophe models in setting premium rates. The measure also extends language related to catastrophe modeling to “nature-based flood risk reduction.” In the original … Read more
While rising premiums have been the primary driver for commercial property insurance growth for years, a 25-quarter rate increase streak broke in early 2024. Strong risk-adjusted capitalization and adequate liquidity may sustain the stable outlook, notwithstanding formidable risks, according to Triple-I’s latest insurance brief Commercial Property: Trends and Insights. The brief focuses on several core … Read more
By Lewis Nibbelin, Contributing Writer, Triple-I The efficacy of collaboration and investment by “co-beneficiaries” in resilience initiatives was a dominant theme throughout Triple-I’s 2024 Joint Industry Forum – particularly in the final panel, which celebrated leaders behind recent real-world impacts of such investments. Moderated by Dan Kaniewski, Marsh McLennan (MMC) managing director for public sector, the … Read more
