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Commercial Auto Insurance Profit Struggles Continue

Insurance Journal

The commercial auto insurance segment maintained its place as a weaker-performing U.S. property/casualty insurance product line in 2023. Despite successive periods of pricing and underwriting actions, commercial auto has generated a statutory combined ratio above 100 in 12 of the …

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Pennsylvania Shaved $98 Million Off Insurer Rate Requests in First Half of Year

Insurance Journal

The Pennsylvania Insurance Department (PID) reported that it has saved consumers $98.3 million in annual auto, home and other property/casualty insurance premiums in the first six months of 2024 through its review of insurance company rate filings. The vast majority …

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APCIA: Tariffs to Hurt Families and Business Owners, Affect Affordability

Insurance Journal

The president and CEO of the American Property Casualty Insurance Association issued a statement calling the tariffs on Mexico, Canada, and China a disruption as many homeowners attempt to rebuild after recent natural catastrophes. “Tariffs can be effective tools of …

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Medicare Recovery Actions Can’t be Made by Uninjured Parties, Appeals Court Says

Insurance Journal

Litigation that seeks to win Medicare reimbursements from insurance companies has become a huge business over the last decade, making one Miami lawyer a billionaire and causing expensive, ongoing legal headaches for property-casualty insurers. But the federal law that allows …

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New Louisiana Law Mandates Discount Disclosures for Insurance Companies

Insurance Journal

Louisiana Insurance Commissioner Tim Temple sent out an announcement this week to all property and casualty insurance companies notifying of a statue that requires insurers to disclose all available discounts that could lead to reduced premiums for current or prospective …

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Florida ReformsBear Fruit as Premium Rates Stabilize 

Triple-I: Homeowners Insurance

Floridas legislative reforms to address claim fraud and legal system abuse are stabilizing the states property/casualty insurance market, according to the latest Triple-I Issues Brief. In addition, the brief says, the number of insurers writing business in the state has rebounded after a multi-year exodus.

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JIF 2024: What’s In a Name? When It Comes to Legal System Abuse, A Lot

Triple-I: Homeowners Insurance

As we’re trying to raise awareness of this problem with consumers, ‘social inflation’ doesn’t work,” said discussion moderator and Triple-I’s Chief Insurance Officer Dale Porfilio. Secrecy surrounding TPLF prevents insurers and regulators from identifying, let alone mitigating, the risks of increased costs and time to resolve claims disputes.