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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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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. Homeowners rates in Florida grew at a much slower rate in 2024, even as rate growth remained strong nationally.

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Personal Lines Underwriting Results Improve, Reducing Gap With Commercial Lines

Triple-I: Homeowners Insurance

property and casualty insurance industry experienced better-than-expected economic and underwriting results in the first half of 2024, according to the latest forecasting report by Triple-I and Milliman. Much of the overall underwriting gain was due to growth in personal lines net premiums written. represented a 2.3-points

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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. Louisianans Need to Know Legal Reforms Boost Florida Insurance Market; Premium Relief Will Require More Time How Georgia Might Learn From Florida Reforms U.S.

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2022 P&C Underwriting Profitability Seen Worsening as Inflation, Hard Market Persist

Triple-I: Business Insurance

The property & casualty insurance industry’s combined ratio – an indicator of underwriting profitability – is forecast at 100.7 Combined ratio represents the difference between claims and expenses paid and premiums collected by insurers. Losses have been driven by significant deterioration in the personal auto line.

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Actuarial Studies Advance Discussionon Bias, Modeling, and A.I.

Triple-I: Homeowners Insurance

The Casualty Actuarial Society (CAS) has added to its growing body of research to help actuaries detect and address potential bias in property/casualty insurance pricing with four new reports. Actuaries commonly rely on demographic factors, such as age and gender, when deciding insurance premiums.

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