By Max Dorfman, Analysis Author, Triple-I Insurers paid $1.12 billion in dog-related harm claims in 2023, based on analysis by Triple-I and State Farm. The full variety of dog-bite and associated claims was 19,062 in 2023 – a rise of greater than 8 % from 2022 and an increase of 110 % over the … Read more
Colorado State College hurricane researchers predict an “extraordinarily energetic” Atlantic hurricane season of their preliminary 2024 forecast. The crew cites record-warm tropical and jap subtropical Atlantic sea floor temperatures as a main issue for his or her prediction of 11 hurricanes this yr. Led by senior analysis scientist and Triple-I non-resident scholar Phil Klotzbach, Ph.D, the CSU … Read more
Cyber incidents reported to the FBI’s Web Crime Grievance Middle (IC3) in 2023 totaled 880,418. These assaults prompted a five-year excessive of $12.5 billion in losses, with funding scams making up $4.57 billion, probably the most for any cybercrime tracked. Phishing, with 298,878 incidents reported (down from its five-year excessive in 2021 of 323,972), continues … Read more
Property homeowners in Lee County, Fla., may lose their flood insurance coverage premium reductions underneath the Nationwide Flood Insurance coverage Program (NFIP) Neighborhood Ranking System (CRS), in keeping with a latest announcement by FEMA. CRS is a voluntary program that acknowledges and encourages group floodplain administration practices that exceed NFIP minimal necessities. Over 1,500 communities take … Read more
By Max Dorfman, Analysis Author, Triple-I Auto premiums proceed to extend as rising labor and materials costs, alongside pure disasters, are forcing insurers to deal with vital losses. As Triple-I beforehand present in its January report, Insurance coverage Economics and Underwriting Projections: A Ahead View, “business auto underwriting losses proceed, with a projected 2023 web … Read more
