Executive Exchange: RiskScan Survey Taps Cross-Market Viewpoints
For insurers, “customer” is one word that encompasses individual policyholders, business owners, risk managers, agents and brokers, and others, all with different (often divergent) priorities. For reinsurers – whose primary customers are insurers themselves – “understanding the customer” is particularly challenging. This was part of the motivation behind RiskScan 2024 – a collaborative survey carried out by Munich Re US and Triple-I. The survey provides a cross-market overview of top risk concerns among individuals across five key market segments: P&C insurance carriers, P&C agents and brokers, middle-market business decision makers, small business owners, and consumers. It explores not only P&C risks, but also how economic, political, and legal pressures shape…
Louisiana Reforms: Progress, But MoreIs Needed to StemLegal System Abuse
Reforms put in place in 2024 are a positive move toward repairing Louisiana’s insurance market, which has long suffered from excessive claims litigation and attorney involvement that drive up costs and, ultimately, premium rates. But more work is needed, Triple-I says in its latest Issues Brief. Research by the Insurance Research Council (IRC) – like Triple-I, an affiliate of The Institutes – shows Louisiana to be among the least affordable states for both personal auto and homeowners insurance. In 2022, the average annual personal auto premium expenditure per vehicle in Louisiana was $1,588, which is nearly 40 percent above the national average and nearly double that of the lowest-cost Southern…
When will your insurer not cover claims under your third-party motor insurance?
Driving in India without third-party (TP) insurance is illegal and can result in financial burdens if caught without a valid policy. However, even when you have a TP cover, there may be instances where your TP insurer may refuse to cover damages and injuries caused to third parties by the insured vehicle. Read on to learn more about such conditions, the recourses available and the number of times you can avail yourself of third-party motor insurance.
