Florida’s top five auto insurance groups are cutting personal auto rates by a statewide average of 6.5 percent due to legislative reforms that addressed legal system abuse and assignment of benefits (AOB) claim fraud, the Florida Office of Insurance Regulation (OIR) announced this week. “Citizens of the Sunshine State are now clearly seeing the benefits … Continue reading Litigation Reform Works: Florida Auto Insurance Premium Rates Declining→
With its abundance of unneeded new roofs on homes – and flashy lawyer billboards at every turn claiming massive settlements on claims – Florida’s insurance market is on the verge of failure. This man-made catastrophe is causing financial strain on consumers, as the annual cost of an average Florida homeowners insurance policy will skyrocket to … Continue reading Fraud, Litigation Push Florida Insurance Market to Brink of Collapse→
By Jeff Dunsavage, Senior Research Analyst, Triple-I Florida Gov. Ron DeSantis announced last week that state regulators have secured nearly $1 billion in premium refunds for Progressive auto insurance policyholders in the state, due to cost savings achieved through litigation reform. DeSantis, who signed sweeping tort reform legislation bills into law in 2022 and 2023, said … Continue reading Florida Governor Touts Auto Insurance Rebates, Tort Reform Success→
Inflation, litigation, and talent concerns are three major drivers of the specialty-lines trends the Argo Group explores in a recent report. Labor inflation is outpacing material costs, with U.S. labor costs rising 1.42 percent year over year, compared to 0.93 percent for materials, Argo reported. This surge in labor costs affects both claims payouts and … Continue reading Specialty Insurance Lines Trend Drivers: Inflation, Litigation, and Talent→
By William Nibbelin, Senior Research Actuary, Triple-I Motor vehicle tort cases in federal and state courts generated $42.8 billion in “excess value” from 2014 to 2023, according to new analysis by Triple-I. “Excess value” may sound like a good thing, but it’s not. It represents an additional cost of motor vehicle civil litigation – above … Continue reading Revealing Hidden Costto Consumers of Auto Litigation Inflation→
By Lewis Nibbelin, Contributing Writer, Triple-I Identifying key risk trends amid an increasingly complex risk landscape was a dominant theme throughout Triple-I’s 2025 Joint Industry Forum – particularly during the panel spotlighting some of the insurance industry’s C-suite leaders. Moderated by CNBC correspondent Contessa Brewer, the panel consisted of: Their discussion provided insight into how … Continue reading JIF 2025: Litigation Trends, Artificial Intelligence Take Center Stage→
Rising natural disaster costs, increased home repair expenses, and legal system challenges have made homeowners’ insurance significantly less affordable across the United States over the past two decades, according to new research from the Insurance Research Council. The trend shows no signs of slowing. The financial burden of protecting one’s home has grown substantially. With … Continue reading Disasters, Litigation Reshape Homeowners’ Insurance Affordability→
By Lewis Nibbelin, Contributing Writer, Triple-I The Florida House’s attempt to curtail recent legal system reforms met firm resistance from the state Senate this week, preserving the 2022 and 2023 legislation that stabilized the state’s property insurance market. Aiming to reinstate one-way attorney fees in insurance litigation, the House added an amendment – originally part … Continue reading Florida Senate RejectsLegal-Reform Challenge→
A record number of bills targeting third-party litigation funding are under consideration across the United States, with Georgia and Kansas already passing disclosure measures, according to an analysis by Insurance Insider. The U.S. Government Accountability Office defines third-party litigation funding as “an arrangement in which a funder who is not a party to the lawsuit agrees to … Continue reading Reining in Third-Party Litigation Funding Gains Traction Nationwide→
By Lewis Nibbelin, Contributing Writer, Triple-I U.S. property claims volume rose 36 percent in 2024, propelled by a 113 percent increase in catastrophe claims, according to a recent Verisk Analytics report. While evolving climate risks fueled claim frequency, uncertain inflation trends and unchecked legal system abuse will likely further strain insurer costs and time to … Continue reading Claims Volume Up 36%in 2024; Climate, Costs, Litigation Drive Trend→
