{"id":826,"date":"2025-06-19T12:57:34","date_gmt":"2025-06-19T12:57:34","guid":{"rendered":"http:\/\/www.cdellis.com\/?p=826"},"modified":"2025-06-24T09:10:43","modified_gmt":"2025-06-24T09:10:43","slug":"insurance-affordability-availability-demand-collaboration-innovation","status":"publish","type":"post","link":"http:\/\/www.cdellis.com\/index.php\/2025\/06\/19\/insurance-affordability-availability-demand-collaboration-innovation\/","title":{"rendered":"Insurance Affordability, Availability Demand Collaboration, Innovation"},"content":{"rendered":"
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By Lewis Nibbelin, Contributing Writer, Triple-I<\/strong><\/em><\/p>\n

Insurance industry executives and thought leaders gathered yesterday for Triple-I\u2019s Joint Industry Forum (JIF) in Chicago to discuss the trends, economics, geopolitics, and policy influencing the market today, as well as ways to navigate these complexities while focusing on making their products affordable and available for consumers.<\/p>\n

Triple-I CEO Sean Kevelighan in his opening remarks, noted that effective risk management depends on collaboration across stakeholder groups, as interconnected perils \u201cpresent a community problem, not just an industry problem.\u201d<\/p>\n

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JIF keynote speaker Louisiana Insurance Commissioner Tim Temple said facilitating community resilience planning is a top priority for the National Association of Insurance Commissioners (NAIC). The NAIC\u2019s 2025 initiative  \u2013 \u201cSecuring Tomorrow: Advancing State-Based Regulation<\/a>\u201d \u2013 aims to improve disaster mitigation and recovery by consolidating \u201cthe collective expertise of experienced state regulators from across the country, who can share real-time insights and proven strategies,\u201d Temple said.<\/p>\n

Among the initiative\u2019s goals is aggregating more data from insurers to better understand challenges to affordability and availability on state levels, which the NAIC can then translate into actionable policy proposals. Such data calls, Temple said, help regulators, legislators, and policyholders focus on improving the cost drivers of insurance rates.<\/p>\n

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Louisiana has consistently been among the least affordable states for homeowners<\/a> and auto<\/a> insurance,\u00a0according to the\u00a0Insurance Research Council<\/a>\u00a0(IRC), in part because of its reputation for being plaintiff-friendly in civil litigation. Significant tort legislation<\/a> has been approved in the state, but resistance to reform remains a challenge.<\/p>\n

Getting to the roots of high premiums<\/strong><\/p>\n

 After a recent data call in his home state, Temple told the JIF audience, \u201cFor the first time in Louisiana, we’re not talking about only premiums. We’re talking about why premiums are where they are.\u201d<\/p>\n

A critical lack of transparency surrounding cost drivers persists, however. Temple criticized the National Flood Insurance Program\u2019s Risk Rating 2.0<\/a> reforms for not publicly disclosing more information \u201cfor individuals and communities to identify and address factors driving up their premiums,\u201d such as \u201cwhether increased rates take into account levee systems, pump stations, and other things designed to help mitigate against floods.\u201d<\/p>\n

Conversely, government programs like Strengthen Alabama Homes \u2013 and the numerous programs it inspired, including in Louisiana \u2013 have demonstrated success<\/a> in communicating the benefits of resilience investments for consumers and policymakers.<\/p>\n

\u201cWe\u2019re seeing major positive results after just a few short years,\u201d Temple said, noting that, since early 2024, over 5,000 homeowners not chosen for Louisiana\u2019s grant program still decided to invest in the same hazard mitigation, as they may still qualify for the corresponding state-mandated insurance discounts.<\/p>\n

\u201cAs natural disasters become more frequent and severe, state regulators will continue to drive forward common-sense policies that protect consumers and ensure that insurance remains available and reliable for at-risk communities,\u201d Temple concluded. Developing the database required for such policies is a necessary first step.<\/p>\n

Keep an eye on the Triple-I Blog for further JIF coverage.<\/em><\/p>\n

Learn More<\/em><\/strong><\/p>\n

Significant Tort Reform Advances in Louisiana<\/a><\/p>\n

Louisiana Senator Seeks Resumption of Resilience Investment Program<\/a><\/p>\n

Louisiana Reforms: Progress, But More Is Needed to Stem Legal System Abuse<\/a><\/p>\n

Louisiana Is Least Affordable State for Personal Auto Coverage Across the South and U.S.<\/a><\/p>\n

Who\u2019s Financing Legal System Abuse? Louisianans Need to Know<\/a><\/p>\n

Study Touts Payoffs From Alabama Wind Resilience Program<\/a><\/p>\n

Outdated Building Codes Exacerbate Climate Risk<\/a><\/p>\n

Resilience Investments Paid Off in Florida During Hurricane Milton<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Lewis Nibbelin, Contributing Writer, Triple-I Insurance industry executives and thought leaders gathered yesterday for Triple-I\u2019s Joint Industry<\/p>\n","protected":false},"author":1,"featured_media":828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"_links":{"self":[{"href":"http:\/\/www.cdellis.com\/index.php\/wp-json\/wp\/v2\/posts\/826"}],"collection":[{"href":"http:\/\/www.cdellis.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.cdellis.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.cdellis.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.cdellis.com\/index.php\/wp-json\/wp\/v2\/comments?post=826"}],"version-history":[{"count":3,"href":"http:\/\/www.cdellis.com\/index.php\/wp-json\/wp\/v2\/posts\/826\/revisions"}],"predecessor-version":[{"id":832,"href":"http:\/\/www.cdellis.com\/index.php\/wp-json\/wp\/v2\/posts\/826\/revisions\/832"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.cdellis.com\/index.php\/wp-json\/wp\/v2\/media\/828"}],"wp:attachment":[{"href":"http:\/\/www.cdellis.com\/index.php\/wp-json\/wp\/v2\/media?parent=826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.cdellis.com\/index.php\/wp-json\/wp\/v2\/categories?post=826"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.cdellis.com\/index.php\/wp-json\/wp\/v2\/tags?post=826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}