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Inflation, catastrophes, and geopolitical risks weigh on 2022 p&c industry results, new Triple-I/Milliman report shows

Growth and replacement costs remain challenging well into 2023 & 2024 as inflation, catastrophes, and geopolitical risks put pressure on insurance industry combined ratios, according to the latest underwriting projections by Triple-I and Milliman.

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Insurance Information Institute releases its 2022 Annual Report
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Triple-I: Insurance careers month highlights industry’s opportunities
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Triple-I non-resident scholar discusses “Finding the sweet spot” in disaster protection
Other Insurance Topics Social inflation: hard to measure, important to understand
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Auto Insurance Driving in winter? Be prepared and stay safe

Snow, sleet, ice and below freezing temperatures all have an effect on driving conditions. During winter, safety depends on driver performance in winter hazards, good vehicle maintenance—and common sense. The Triple-I offers tips which will help you and your car weather the winter. See also, Video: Minimizing winter weather risks

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Triple-I and HBCU Impact® partner to recruit Black talent nationwide

The Triple-I and the HBCU I.M.P.A.C.T. Initiative, Inc.® announced a partnership and a career-building campaign aimed at recruiting students at historically Black colleges and universities (HBCUs) to the insurance industry. See also Video: Insuring Success - Premium Careers. Endless Opportunities. View more videos on Insuring Success.

Triple-I CEO Sean Kevelighan discusses legal system abuse
Triple-I: 2023 Insurer economic performance tied to broader trends
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Florida auto legislation, on heels of 2022 reforms, suggests state is serious about insurance crisis fix
About the Industry Triple-I Issues Briefs: State of the risk; Trends and Insights
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I.I.I. Glossary

CROP-HAIL INSURANCE- Protection against damage to growing crops from hail, fire or lightning provided by the private market. By contrast, multiple peril crop insurance covers a wider range of yield reducing conditions, such as drought and insect infestation, and is subsidized by the federal government.

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.

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I.I.I. News Wire

Inflation, Catastrophes, and Geopolitical Risks Weigh on 2022 P&C Industry Results, New Triple-I/Milliman Report Shows

For Immediate Release Triple-I: Loretta Worters, lorettaw@iii.org Milliman: Jeremy Engdahl-Johnson, jeremy.engdahl-johnson@milliman NEW YORK – Feb. 7, 2023 – The 2022 combined ratio for the property/casualty insurance industry is forecast to be 105.8, a worsening of 6.3 points from 2021. Read More

Triple-I Moderating Feb. 9 Keynote Session at Wildfire Conference

For Immediate Release Florida Press Office: Mark Friedlander, 904-806-7813, markf@iii.org      SAN DIEGO, Feb. Read More

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Events Calendar

Bringing Claims Professionals Together
February
14
2023
This annual NAMIC Claims Conference event hosted in Orlando, Florida is designed to connect claims professionals from property/casualty insurance companies with the education and resources they need. Checkout event website.
The Lightning Protection Industry Conference
February
14
2023
The Lightning Protection Industry Conference will be held from February 14-16, 2023 at the Luminary Hotel in Ft. Myers, Florida. Checkout event website.
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