Choosing the right bike spare parts ensures optimal performance and safety. Genuine parts maintain your bike’s warranty and can be crucial for insurance claims. Always verify part numbers and look for BIS certification. Buy from authorized dealerships or trusted mechanics. Maintaining records of replacements is vital for insurance purposes. Avoid cheap deals from unverified sellers to prevent future costs.
By Jeff Dunsavage, Senior Research Analyst, Triple-I
Florida Gov. Ron DeSantis announced last week that state regulators have secured nearly $1 billion in premium refunds for Progressive auto insurance policyholders in the state, due to cost savings achieved through litigation reform.
DeSantis, who signed sweeping tort reform legislation bills into law in 2022 and 2023, said the refunds are a direct result of declining litigation expenses in Florida’s auto insurance market.
“Florida was really considered a litigation hellhole by a lot of folks,” DeSantis said. “That contributed to consumers having to bear more costs with respect to auto insurance.”
He pledged Insurance Commissioner Mike Yaworksy is negotiating with other major auto carriers for similar reimbursements to their customers.
Mark Friedlander, Triple-I’s director of communications, told Spectrum News Florida that reduced lawsuit expenses has enabled auto insurers to lower average costs and, in some cases, return premium to customers.
“When you take that out of the equation — all of those abusive lawsuits — this brings down the expenses, and that in turn gets passed along to the consumer,” Friedlander said. “The consumer wins with legal system reform.”
Learn More:
Litigation Reform Works: Florida Auto Insurance Premium Rates Declining
Florida Senate Rejects Legal-Reform Challenge
What Florida’s Misguided Investigation Means for Georgia Tort Reform
Florida Bills Would Reverse Progress on Costly Legal System Abuse
Florida Reforms Bear Fruit as Premium Rates Stabilize
How Georgia Might Learn From Florida Reforms
Resilience Investments Paid Off in Florida During Hurricane Milton
Florida Homeowners Premium Growth Slows as Reforms Take Hold, Inflation Cools
By William Nibbelin, Senior Research Actuary, Triple-I
The U.S. property/casualty (P/C) insurance industry is on track for a second consecutive year of underwriting profitability in 2025, and is projected to grow faster than the broader U.S. economy, according to the latest Insurance Economics and Underwriting Projections: A Forward View report from Triple-I and Milliman. The report, which is based on data through the first half of 2025, highlights continued progress despite persistent geopolitical and natural catastrophe uncertainties.
Positive Economic Signals and Lingering Concerns
The industry’s economic outlook remains cautiously optimistic. According to Michel Léonard, Ph.D., CBE, chief economist and data scientist at Triple-I, the industry has benefited from stronger-than-expected underlying growth. He also noted that P/C replacement costs continue to rise more slowly than overall inflation.
However, Léonard also pointed to factors that make the outlook for 2026 especially important to watch.
“Ongoing risks, including tariffs, labor market softening and persistent inflation,” could pose challenges, he said. While the impact of tariffs has been less severe than initially anticipated, their long-term effect remains an open question.
Underwriting Performance: A Mixed Bag
Overall underwriting profitability for 2025 is expected to be a repeat of 2024, but to a lesser degree. The performance gap between personal lines and commercial lines is narrowing.
“Favorable second-quarter results for homeowners helped narrow the anticipated 2025 gap between personal and commercial lines performance created by the Los Angeles fires in the first quarter,” said Patrick Schmid, Ph.D., Triple-I’s chief insurance officer.
Schmid also noted that personal lines premium growth is expected to remain higher than commercial lines by one point in 2025. That difference is projected to disappear by 2027.
Personal Lines
Commercial Lines
Delving Deeper: A Members-Only View
For members who want to dig deeper into the projections, the full Insurance Economics and Underwriting Projections: A Forward View report offers a more granular analysis, including:
The next quarterly report will be presented at a members-only webinar in January 2026.
A new report by Rates.ca shows a single claim of flood damage could increase home insurance premiums by 19 per cent, but you could face more costs without any coverage at all.
