Investors with no stake in a lawsuit beyond wanting to profit from its outcome are contributing to the growth of insurer legal costs and settlement payouts, according to a new report from the Insurance Information Institute (Triple-I). “Third-party litigation funding (TPLF) has devastatingly become a multi-billion-dollar global industry, turning lawsuits into investments at the expense… Continue reading Triple I: Investors Fund Lawsuits without Disclosing Their Role
Tag: Triple I
Population Growth Drives Hurricane Loss Trends
Florida, South Carolina, Georgia, and Delaware saw population growth in the 2010s that dramatically expanded the property damage a hurricane could cause in those states, according to a new Insurance Information Institute (Triple-I) Issues Brief. “The 2022 Atlantic hurricane season is expected to be “well above average” in terms of the number of named storms,… Continue reading Population Growth Drives Hurricane Loss Trends
U.S. Insurers Lead Way on Climate-Related Disclosures, Triple-I Tells SEC
Creating a new layer of federal oversight would neither enhance nor standardize the climate-related disclosures U.S. insurers make to investors, the Insurance Information Institute (Triple-I) said in a letter sent to the U.S. Securities and Exchange Commission (SEC). Triple-I’s letter came in response to the SEC’s request for public comment on its proposed rulemaking, “The… Continue reading U.S. Insurers Lead Way on Climate-Related Disclosures, Triple-I Tells SEC
Triple-I: New Mexico’s Wildfires Highlight Need for Preparedness
President Joseph Biden’s approval last week of a major disaster declaration for New Mexico gave new urgency to the importance of May’s Wildfire Awareness month, according to the Insurance Information Institute (Triple-I). “The U.S. has incurred a significant loss of life and property damage over the past five years due to wildfires and drought conditions… Continue reading Triple-I: New Mexico’s Wildfires Highlight Need for Preparedness
Triple-I, CAS Quantify Social Inflation’s Impact on Commercial Auto
The phenomenon known as “social inflation” accounted for $20 billion in commercial auto liability claims between 2010 and 2019, a new study by Triple-I and the Casualty Actuarial Society (CAS) finds. Social inflation isn’t a new term. Warren Buffett used it in the 1970s to describe “a broadening definition by society and juries of what… Continue reading Triple-I, CAS Quantify Social Inflation’s Impact on Commercial Auto
Carriers Play Critical Role in Addressing Climate-Related Risks: III
The Insurance Information Institute (Triple-I) stated in response to a federal government Request for Information that U.S. insurers are providing financial protection from property damage caused by climate-related risks while also closely assessing them (RFI). In a letter sent this week to the U.S. Treasury Department’s Federal Insurance Office (FIO), the Triple-I noted that four… Continue reading Carriers Play Critical Role in Addressing Climate-Related Risks: III
Triple I and The Institutes Plan to Affiliate, Unify their Voices
The Insurance Information Institute’s (Triple-I) Board of Directors approved plans this month to have the Triple-I enter into an affiliation with The Institutes, and The Institutes’ Board yesterday agreed to the affiliation. The terms will be finalized next month. “With 60 years of quality work serving as the trusted voice of objective insurance information, the… Continue reading Triple I and The Institutes Plan to Affiliate, Unify their Voices