I.I.I. News

Moore Marks 2 Years Since Tornado With Stronger Building Codes, More Storm Shelters

Two years ago today, an EF 5 tornado touched down in Moore, Oklahoma, 4.4 miles west of Newcastle. The powerful twister, with wind speeds reaching 210 miles per hour, cleared a path of destruction stretching fourteen miles while on the …

I.I.I. Celebrates International Pi Day With Insurance Facts

Known as the “Math Geek Mardi Gras”, Pi Day is a growing international event that underscores the wonder of numbers, by celebrating everyone’s favorite irrational number: Pi. And it is a time to recognize that the insurance world is a …

Insurers Stand Ready for Winter Storm Losses

In 2014, winter storms caused $2.3 billion in insured losses, second only to damage caused by severe thunderstorms, according to Munich Re. “Severe winter weather caused 15 percent of all insured auto, home and business catastrophe losses in the United …

U.S. Insurers Face Challenge of Attracting Millennials

Along with the usual challenges U.S. insurers have faced in recent years—intense competition, potentially flatter profit margins, investing in technology—companies now face an important question in the coming years: how to handle the millennial generation. The “millennial question” was one …

Former I.I.I. President Stewart Passes Away at 75

Gordon Curran Stewart, former president of the Insurance Information Institute (I.I.I.), died Wednesday, November 26, in his hometown of Garrison, New York. Stewart, who joined the Institute in 1989 as executive vice president and in 1991 became its president until …

2014 Winter Storm Losses Expected to Total Close to $2.5B

With an arctic cold surge and heavy snow accumulations in large parts of the United States last week, potential hazards exist for homeowners and drivers alike, according to the Insurance Information Institute (I.I.I.). A repeat of this past winter’s deep …

2 Year Anniversary of Superstorm Sandy

Superstorm Sandy made landfall on October 29, 2012 near Atlantic City, N.J., causing an estimated $18.75 billion in insured property losses, making it the third most costly U.S. storm, according to ISO’s Property Claim Services (PCS). Though there were more …

2015 Winter Weather Predicted to be Snowy and Wet

The 2015 Farmers’ Almanac predicts “copious amounts of snow and rain” over the eastern third of the country. In fact, along the Atlantic Seaboard active wintry weather is expected for the first 10 days of January and the first week …

Law That Made Terrorism Coverage Available Expiring at Year End

The year-end expiration of the federal Terrorism Risk Insurance Program Reauthorization Act (TRIPRA), and the uncertain future of the law, is creating problems in the U.S. terrorism insurance market, according to the Insurance Information Institute (I.I.I.). “The private sector does …

Lightning-Related Homeowner Claims Dropped in 2013

Insured losses to homes from lightning strikes in the United States fell to their lowest level in a decade last year, as severe thunderstorm activity eased from near-record levels and dry weather prevailed throughout much of the western half of …