ISO News

Business News: ASSI, Service Insurance Holdings, ISO

Arizona’s First Collision Reporting Center Set to Open in Tucson Accident Support Services International Ltd. announced that it will open its first Arizona Collision Reporting Center, the second in the U.S., in Tucson, May 2018. Accident Support Services International Ltd., …

Business News: NORCAL, Philadelphia Insurance, ISO, The Institutes

NORCAL Offers Medical Professional Liability Insurance in New Mexico NORCAL Mutual Insurance Company now offers medical professional liability insurance coverage to the healthcare providers of New Mexico. NORCAL protects practices throughout the United States and is one of the top …

Despite 2017 Catastrophes, Industry Surplus at All Time High

Due to multiple catastrophes during the first nine months of 2017, property/casualty insurers saw profits plummet, according to the latest Verisk report on the state of the industry. Even so, P/C insurers are doing well, said Beth Fitzgerald, senior vice …

P/C Insurance Industry’s 2017 Net Income Dropped 30.3% in 9 Months

The private U.S. property/casualty insurance industry saw its net income after taxes drop to $22.4 billion in nine-months 2017 from $32.1 billion in nine-months 2016—a 30.3 percent decline—and its overall profitability as measured by its annualized rate of return on …

The Move to a Private U.S. Flood Insurance Market

Continued concern with the viability of the National Flood Insurance Program (NFIP) has led to growing interest in a private flood insurance market. For the first time last year, the Federal Emergency Management Agency (FEMA) entered into a reinsurance agreement …

Superstorm Sandy’s Impact on Flood Risk Assessment, Mitigation 5 Years Later

It’s been five years since Superstorm Sandy caused widespread devastation to the East Coast, causing an estimated $18.75 billion in insured property losses at the time, according to ISO’s Property Claim Services (PCS). In an interview with Claims Journal, Marc …

After Hurricanes, Focus Turns to Assessing the Effectiveness of Building Code Adoption

As residents and businesses continue to recover after Hurricanes Harvey and Irma, focus is beginning to turn to mitigation. In Florida, where experts say better buildings codes resulted from Hurricane Andrew 25 years ago, analysis will include how improved codes …

Business News: Travelers, ISO, IAIABC

Travelers Completes Acquisition of UK-Based Simply Business The Travelers Companies, Inc.completed its previously announced acquisition of Simply Business, a leading provider of small business insurance policies in the United Kingdom, offering products online on behalf of a broad panel of …

Latest Trends in Professional Liability Claims

Professional liability claims and coverage is evolving, according to Steve Whelan, director of management/professional liability product development for ISO. With increasing cyberattacks, comes coverage for ransomware and even blended coverage with other lines. Among other trends, healthcare claims are expected …

Where There’s Vapor: Electronic Cigarettes and Their Risks

Some may have noticed that many “no smoking” signs now include “no e-cigarettes.” A new trend, e-cigarettes are small devices that often look like conventional cigarettes. But that’s not smoke people are exhaling—it’s vapor. E-cigarettes, also known as “vapes,” have …