Reinsurance News
Insurance Information Institute
Triple-I calls for mitigation measures amid misconceptions about risk-based insurance pricing
24th October 2025
The Insurance Information Institute’s (Triple-I) recent Issues Brief highlighted misconceptions of risk-based pricing in property/casualty insurance, which some perceive as unfair, and recommended solutions, including modernising building codes and proactive mitigation measures. Risk-based pricing means offering different prices for the same level of coverage based on risk factors specific to the ... Read the full article
Triple-I appoints Patrick Schmid as Chief Insurance Officer
3rd July 2025
The Insurance Information Institute (Triple-I) has announced the appointment of Patrick Schmid as Chief Insurance Officer, effective July 11, 2025. Schmid will also lead the organisation’s Catastrophe Resiliency Council and the Insurance Research Council, reporting to Sean Kevelighan, CEO of Triple-I. Additionally, he will continue in his role as president of The ... Read the full article
US lightning-related insurance claims down 16.5% in 2024: Triple-I
20th June 2025
U.S. insurers paid $1.04 billion in lightning-related homeowners insurance claims in 2024, marking a 16.5% decrease from the $1.24 billion paid in 2023, according to the Insurance Information Institute (Triple-I). The total number of lightning-caused claims fell to 55,537 in 2024, down 21.5% from 70,787 in 2023, marking the lowest level ... Read the full article
US commercial property insurance shows signs of growth amid challenges: Triple-I
20th December 2024
The US commercial property insurance market is showing signs of improvement, with stable growth expected despite challenges such as climate change and inflation, according to the Insurance Information Institute (Triple-I). Triple-I highlighted that double-digit rate increases have been common in recent years, particularly for properties in high-risk areas or those with ... Read the full article
Rising US homeowners insurance costs driven by nat cat losses and inflation: Triple-I
17th July 2024
Homeowners insurance costs in the US have been on the rise since COVID, largely due to increased losses from natural catastrophes and persistent inflation, according to the Insurance Information Institute (Triple-I). Despite more frequent and intense extreme weather events in recent years, many Americans are moving to regions like the Southeast ... Read the full article
Florida insurance reforms tackle fraud: Triple-I report
10th May 2024
Florida's property insurance sector, grappling with prolonged challenges from legal system manipulation and fraudulent claims, is witnessing a turnaround as the 2024 Atlantic hurricane season approaches, as outlined in a recent report by the Insurance Information Institute (Triple-I). Recent legislative changes in 2022 and 2023 have bolstered Florida's insurance environment, according ... Read the full article
Excessive litigation worsens auto insurance costs, says Triple-I
29th February 2024
The Insurance Information Institute (Triple-I) recently released a report highlighting how excessive litigation exacerbates the long-standing issue of rising auto insurance costs. The report outlines how dangerous driving conditions and economic factors have steadily driven up insurance expenses over the years. However, the situation is worsened by aggressive attorneys who escalate ... Read the full article
U.S. insurers hit hardest by inflation, Triple-I report finds
14th June 2023
U.S. insurers have paid more than their counterparts worldwide to repair and rebuild damaged properties and vehicles due to inflation since 2018, according to an executive briefing conducted on behalf of the International Insurance Society (IIS). Triple-I suggests that within this five-year timeframe, the U.S. experienced the highest cumulative inflation rate ... Read the full article
P&C underwriting results expected to be worst since 2011, says Triple-I
14th November 2022
The 2022 combined ratio for the P&C insurance industry is set to worsen compared to 2021, driven by Hurricane Ian and significant deterioration in the personal auto line, making it the worst year for the P&C industry since 2011, according to the latest underwriting projections by actuaries at the Insurance ... Read the full article
Forced BI claims would put “systemic strain” on the insurance industry: Triple-I CEO
22nd May 2020
The Chief Executive Officer (CEO) of the Insurance Information Institute (Triple-I), Sean Kevelighan, has warned that systematic strains would be placed on the insurance industry if carriers are forced to pay out retroactive claims. As the fallout surrounding business interruption (BI) insurance related to the COVID-19 pandemic has persisted, leaders from ... Read the full article
Gov’s contribution to insured losses under TRIA would decline over time, says report
8th October 2019
If the September 11th, 2001 attacks on the World Trade Centre were to happen today, the implementation of the Terrorism Risk Insurance Act (TRIA) would see the government's net payout fall below zero, according to the Insurance Information Institute (Triple-I). Analysis by Triple-I, which leverages data and analysis from the Reinsurance ... Read the full article
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