I.I.I. News

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 …

Experts Discuss Digital and Social Media to Improve Disaster Communications

A panel discussion on ways digital technology and social media can improve disaster communication is being held this weekend in Austin, Texas. At the South by Southwest Interactive conference (SXSWi) in Austin, Texas, Insurance Information Institute executive vice president, Andréa …

Tornadoes and Thunderstorms Caused $3.5B in Insured Losses in 2013

The Oklahoma tornadoes of May 2013 not only caused significant loss of life but also contributed to its designation last year as the costliest state for natural disaster related insurance payouts, according to the Insurance Information Institute (I.I.I.). “Oklahoma’s policyholders …

Insurers Boost California Economy by $30.2B

California has a near $2 trillion economy that ranks it as a global financial power, thanks in part to a multi-billion dollar boost from the property/casualty insurance industry, according to a new report. Insurers contributed $30.2 billion to California’s 2011 …

P/C Insurers’ 2013 Performance Not Likely to Repeat

Property/casualty insurers will be hard-pressed to repeat the industry’s stellar 2013 performance, a panel of industry chief executives agreed at the 18th annual Property/Casualty Insurance Joint Industry Forum, held on January 14. The CEOs, drawn from a cross-section of the …

Great ShakeOut Earthquake Drill Held Today

More than 18.6 million participants nationwide and across the globe are scheduled to take part in an earthquake drill today. The annual Great ShakeOut earthquake drill is scheduled to be held at 10:17 A.M. today. In California alone there are …

Five Years Since Hurricane Ike Hit Galveston, Texas

Friday marks the anniversary of the costliest hurricane to hit Texas. On September 13, 2008, Hurricane Ike hit Galveston Island. According to Mark Hannah with the Insurance Council of Texas (ICT),  insured losses as a result of the storm totaled …

Many Renters Are Still Uninsured According to I.I.I. Poll

Although the majority of homeowners purchase insurance for their home, when it comes to renters, only 65 percent have renters insurance, according to a poll conducted for the Insurance Information Institute (I.I.I.). The number of renters is steadily increasing. According …

Competition in the U.S. Auto Insurance Market Benefits Drivers

A highly competitive auto insurance marketplace is making coverage more widely available and affordable for all drivers, according to the Insurance Information Institute (I.I.I.), even though insurance is also a heavily regulated industry. The I.I.I. made the observations in response …