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You are here: Home / Archives for Insurance Information Institute

Personal Auto Insurance Underwriting Results Best Since Pandemic

June 17, 2025 By CollisionWeek Editor Leave a Comment

Insurance Information Institute reports 2024 personal auto combined ratio outperformed broader property-casualty insurance. Report examines correlation between new vehicle and parts inflation to premium increases. The United States personal auto insurance industry achieved its strongest underwriting performance in the post-pandemic era, recording a net combined ratio of 95.3 in 2024, according to a new Issues […]

Filed Under: News Tagged With: Auto Insurance, Combined Ratio, Inflation, Insurance Information Institute

Insurance Information Institute Projects P/C Insurance Replacement Costs Outpacing CPI in 2025

January 30, 2025 By CollisionWeek Editor

The Insurance Information Institute (Triple-I) expects the pace of increase in average property/casualty insurance replacement costs to exceed increases in the consumer price index in 2025 and beyond as auto replacement costs rise for the first time since 2022 as CPI continues to decline. Triple-I’s replacement cost index for personal and commercial auto tracks changes […]

Filed Under: News Tagged With: consumer price index, Inflation, Insurance Information Institute, Used Vehicle Prices

Triple-I Reports Personal Auto Profitability Heading in the Right Direction

June 11, 2024 By CollisionWeek Editor

Personal auto insurance underwriting profitability appears to finally be headed in a positive direction after recent years of record underwriting losses, according to the Insurance Information Institute (Triple-I). “Auto insurers’ 2023 net combined ratio of 104.9 is 7.3 points better than 2022. Additionally, 2023 net written premium growth of 14.3% is the highest in over […]

Filed Under: News Tagged With: Auto Insurance, Combined Ratio, Insurance Information Institute, Profitability

Insurance Economic Drivers Outperforming Overall US GDP

April 17, 2024 By CollisionWeek Editor

Insurance Information Institute says property/casualty insurance performance likely to gain momentum on Federal Reserve interest rate cuts. The economic drivers of the U.S. property/casualty (P/C) insurance industry are now growing faster than the nation’s Gross Domestic Product (GDP) and are expected to gain further momentum in the event of Federal Reserve monetary rate cuts, according […]

Filed Under: News Tagged With: Insurance Information Institute, Property Casualty Insurance

Insurance Economic Drivers Could Outperform U.S. Economy By 2025 But Major Hurdles Remain

October 18, 2023 By CollisionWeek Editor

The economic drivers of the U.S. property/casualty (P/C) insurance industry could cumulatively expand faster than the nation’s gross domestic product (GDP) in 2024 and may outperform the overall U.S. economy by 2025, according to the Insurance Information Institute’s (Triple-I) latest Insurance Economics Outlook. “Growth drivers specific to P/C performance have been improving faster in 2023 […]

Filed Under: News Tagged With: Insurance Information Institute, Property Casualty Insurance

Inflation and High Catastrophe Losses Projected to Lead to Underwriting Loss for P&C Insurance

August 9, 2023 By CollisionWeek Editor

The overall P&C industry is forecast to finish 2023 with a net combined ratio at 102.2, nearly identical to the final 2022 result of 102.4. Poor personal lines underwriting performance is the key driver in both years, with personal auto forecast at 109.5 in 2023, according to the latest underwriting projections by actuaries at the […]

Filed Under: News Tagged With: Combined Ratio, Insurance Information Institute, Property Casualty Insurance

Atlantic Hurricane Season Forecast Slightly Below-Average

April 17, 2023 By CollisionWeek Editor

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. Led by senior research scientist Phil Klotzbach, Ph.D., also a non-resident scholar at the Insurance Information Institute (Triple-I), the CSU Tropical Meteorology Project anticipates […]

Filed Under: News Tagged With: Disaster Preparedness, Insurance Information Institute

Insurance Information Institute Says U.S. Insurers Remain Resilient Despite Economic Challenges

March 31, 2023 By CollisionWeek Editor

Slow underlying growth and inflation are among the biggest challenges facing U.S. auto, home, and business insurers, according to the Insurance Information Institute (Triple-I) Q1 2023 Economic Outlook. The Outlook’s key takeaways include: Property/casualty (P/C) insurance, a category which includes U.S. carriers who underwrite auto, home, and business coverage, saw its cyclical underlying growth rebound […]

Filed Under: News Tagged With: Insurance Information Institute, Property Casualty Insurance

February is Insurance Careers Month

February 1, 2023 By CollisionWeek Editor

The federal government reports 2.8 million people in the U.S. are employed by the insurance industry and February’s annual celebration of Insurance Careers Month is a reminder of the opportunities it offers, according to the Insurance Information Institute (Triple-I). “Insurance is the backbone of the global economy, providing security, recovery, and sustainability. Whether just starting […]

Filed Under: News Tagged With: American Property Casualty Insurance Association, Insurance Information Institute, Property Casualty Insurance, Workforce Development

Insurance Information Institute Tells SEC that U.S. Insurers Already Lead Way on Climate-Related Disclosures

June 21, 2022 By CollisionWeek Editor

Creating a new layer of federal oversight would neither enhance nor standardize the climate-related disclosures U.S. insurers make to investors, the Insurance Information Institute (Triple-I) said in a letter sent to the U.S. Securities and Exchange Commission (SEC). Triple-I’s letter came in response to the SEC’s request for public comment on its proposed rulemaking, “The […]

Filed Under: News Tagged With: Environmental, Insurance Information Institute, Securities and Exchange Commission

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