This blog post by I.I.I. CEO Sean Kevelighan summarizes the discussion at the I.I.I. Joint Industry Forum Town Hall session on resilience. The insurance industry is not only well-positioned to help rebuild, but it can also help lessen the impacts of natural catastrophes even before they happen. Mitch Landrieu, former lieutenant governor of Louisiana and two-term mayor of New Orleans, led the discussion.
Snow, sleet, ice and below freezing temperatures all have an effect on driving conditions. During winter, safety depends on driver performance in winter hazards, good vehicle maintenance—and common sense. These tips will help you and your car weather the winter.
The state’s legal environment has encouraged vendors and their attorneys to solicit unwarranted AOBs from tens of thousands of Floridians, conduct unnecessary or unnecessarily expensive work, then file tens of thousands of lawsuits against insurance companies that deny or dispute the claims. This mini-industry has cost consumers billions of dollars as they are forced to pay higher premiums to cover needless repairs and excessive legal fees. Download the full report here.
WAIVER- The surrender of a right or privilege. In life insurance, a provision that sets certain conditions, such as disablement, which allow coverage to remain in force without payment of premiums.
CATASTROPHE DEDUCTIBLE- A percentage or dollar amount that a homeowner must pay before the insurance policy kicks in when a major natural disaster occurs. These large deductibles limit an insurer’s potential losses in such cases, allowing it to insure more property. A property insurer may not be able to buy reinsurance to protect its own bottom line unless it keeps its potential maximum losses under a certain level.See Full Glossary
For immediate release Kim Kirchner, Coburn Communication: (212) 536-9837; Kim.Kirchner@coburnww.com New York Press Office, Insurance Information Institute: (212) 346-5500; email@example.com NEW YORK, Jan. Read More
For immediate release Kim Kirchner, Coburn Communication: (212) 536-9837; Kim.Kirchner@coburnww.com New York Press Office, Insurance Information Institute: (212) 346-5500; firstname.lastname@example.org NEW YORK, December 18, 2018—Dr. Read More