Gary Moran

#Georgia’s #personal #auto #insurance has become one of the least affordable in the U.S., with costs rising faster than any other state, according to our latest report published last Thursday. This free brief highlights a combination of factors driving up costs, including economic inflation, high replacement costs, poor driving behavior, and legal system abuse. Discover more about these cost-driving factors in our full report, available for free on our website: https://lnkd.in/eyVh5NEk Be sure to follow us for more valuable insurance insights! #InsuranceResearch #autoinsurance #personalautoinsurance #insuranceaffordability #Georgiainsurance #legalsystemabuse #IRCResearch #InsuranceResearchCouncil #DataDrivenInsights #InsuranceTrends #insurancenews Dale Porfilio Vickie Kilgore William Nibbelin Elizabeth McConlogue

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Ever feel like insurers are speaking a completely different language to you? 🗣 Here are four key insurance terms that you need to know!

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𝗧𝘄𝗲𝗹𝘃𝗲 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝗦𝗻𝗮𝗽𝘀𝗵𝗼𝘁 – 𝗜𝗟𝗦  𝗘𝗮𝗿𝗹𝘆 𝗯𝗶𝗿𝗱 𝗰𝗮𝘁𝗰𝗵𝗲𝘀 𝘁𝗵𝗲 𝘄𝗼𝗿𝗺. 𝗙𝗹𝗼𝗿𝗶𝗱𝗮 𝘂𝗽𝗱𝗮𝘁𝗲 The benign 2023 hurricane season helped strengthening Florida insurers’ balance sheets, after a troubled 2022 marked by several defaults. Recent regulatory reforms also appear to support a healthier competitive environment. These elements led eight companies to ask the regulator for approval to reduce the prices they apply to end-customers – something unseen for many years. Moreover, after two years marked by troubles in finding sufficient reinsurance coverage (also known as capacity), Floridan players have initiated 2024 reinsurance discussion earlier in the year, allowing for longer negotiation time. These market dynamics, together with higher appetite from both reinsurers and ILS managers for top layers (the more risk-remote part of a cedant reinsurance buying) initially led to flattening or decreasing pricing. Still, lower layers, loss-making companies, or those that have experienced increase in loss estimates for Hurricane Ian have seen less benign pricing conditions and remained more difficult to place. As recent hurricane forecasts point to a potentially active season, we observe more difficulties for those market participants that were late in the process to place complex structures, Cat Bonds with industry-loss triggers or aggregate coverages. These signs of hardening, that recently pushed Cat Bond yields at their highest level since September 2023, should be taken positively by investors as they highlight the prospects for potentially prolonged attractive spreads. #ILS #CatBonds #InvestmentOpportunity

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