For the U.S. property/casualty (P/C) insurance industry, 2018 was a year of unusual experience. Results were good in comparison with 2017—but 2017 was a horrible year. Premiums, investment income and profits rose, buoyed by a surprisingly strong U.S. economy, but interest rates sagged, and fears of a looming recession grew.
This report focuses on the key economic indicators pertinent to the property/casualty (P/C) insurance industry, and takes a deep dive in the following areas: the HO exposure base; catastrophe claims by season; commercial property premiums; and P/C industry operating ratio. The presentation also includes a special section on vehicle travel prediction.
SURRENDER CHARGE- A charge for withdrawals from an annuity contract before a designated surrender charge period, usually from five to seven years.
RATE- The cost of a unit of insurance, usually per $1,000. Rates are based on historical loss experience for similar risks and may be regulated by state insurance offices.See Full Glossary
For immediate release New York Press Office: 212-346-5500; email@example.com NEW YORK, May 21, 2019— Dr. Michel Léonard, CBE, vice president and senior economist with the Insurance Information Institute (I.I.I.) was today appointed by the Silicon Valley Insurance Accelerator (SVIA) to lead it… Read More
For immediate release New York Press Office: 212-346-5500; firstname.lastname@example.org NEW YORK, May 16, 2019—With National Safe Boating Week (May 18-24) days away, the Insurance Information Institute (I.I.I.) reminds boat owners to secure the right type and amount of coverage for their recreational vessel.… Read More