Insurance Information Institute reports 2024 personal auto combined ratio outperformed broader property-casualty insurance. Report examines correlation between new vehicle and parts inflation to premium increases.
The United States personal auto insurance industry achieved its strongest underwriting performance in the post-pandemic era, recording a net combined ratio of 95.3 in 2024, according to a new Issues Brief from the Insurance Information Institute (Triple-I) released June 12. Triple-I cautions, however, that the industry continues to face headwinds due to escalating legal system abuse and a challenging regulatory environment.
“While the improved 2024 underwriting performance is encouraging, we remain focused on several challenges
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.