Following calls by consumer groups for the U.S. Treasury Department’s Federal Insurance Office (FIO) to update its 2017 auto insurance affordability study, two insurance groups commented on the proposals. David Snyder, vice president of the American Property Casualty Insurance Association’s Policy, Research and International Division (APCIA) said, “We support the Department of Treasury’s Federal Insurance […]
Property/Casualty Underwriting Profits Projected to Continue in 2021
Insurance Information Institute and Milliman project industry combined ratio of 99, virtually the same as 2020. Property/casualty insurers are projected to continue to post slight underwriting profits in 2021, according to a forecast by the Insurance Information Institute (Triple-I) and Milliman. The forecast projects a 2021 combined ratio of 99, virtually the same as last […]
III Study Shows Collision Claim Frequency Increased Where Marijuana Sales Are Legal
Insurance Information Institute reports 6 percent increase in collision claims in states where recreational marijuana is legalized. Given that 10 states allow the sale of recreational marijuana, U.S. auto insurers are examining how the drug is impacting motorist behavior and claims-filing patterns, according to a new Insurance Information Institute (I.I.I.) white paper. A Rocky Road […]
Rising Automobile Claims Costs Put Upward Pressure on Price Of Insurance
I.I.I. White Paper Details Increase In Frequency and Severity of auto crashes. Over the past two years, U.S. auto insurance companies have seen private-passenger loss costs rise sharply as insurers receive more, and costlier, claims, according to the Insurance Information Institute (I.I.I.). “There has been an alarming increase in crashes and claims reported. This, combined […]
Insurance Information Institute Research Shows 79% of Customers Want Insurer to Make a Shop Recommendation
Research by the insurance industry consumer education organization analyzes customer demand for both insurance company collision repair facility referrals and generic crash parts. The Insurance Information Institute’s (I.I.I.) yesterday released a new report, PulsePoints: Home and Auto Insurance, that examines a variety of consumer attitudes and opinions on insurance topics. Among the finding of interest […]