This report examines what key leading economic indicators show for the P/C industry, and also includes a deep dive into personal auto plus a special section on how and where political risk insurance is growing.
After a disaster, you want to get back to normal as soon as possible, and your insurance company wants that too! You may get multiple checks from your insurer as you make temporary repairs, permanent repairs and replace damaged belongings. Here's what you need to know about claims payments.
For the U.S. property/casualty (P/C) insurance industry, 2018 was a year of unusual experience. Results were good in comparison with 2017—but 2017 was a horrible year. Premiums, investment income and profits rose, buoyed by a surprisingly strong U.S. economy, but interest rates sagged, and fears of a looming recession grew.
ALLIED LINES- Property insurance that is usually bought in conjunction with fire insurance; it includes wind, water damage and vandalism coverage.
ADVERSE SELECTION- The tendency of those exposed to a higher risk to seek more insurance coverage than those at a lower risk. Insurers react either by charging higher premiums or not insuring at all, as in the case of floods. (Flood insurance is provided by the federal government but sold mostly through the private market.) In the case of natural disasters, such as earthquakes, adverse selection concentrates risk instead of spreading it. Insurance works best when risk is shared among large numbers of policyholders.See Full Glossary
For immediate release New York Press Office: (212) 346-5500; firstname.lastname@example.org NEW YORK, July 11, 2019 — Tropical Storm Barry has the potential to cause property damage along the Gulf Coast which is covered under different insurance policies, according to the Insurance Information Institute (I.I.I.… Read More
For immediate release New York Press Office: (212) 346-5500; email@example.com JACKSONVILLE, Fla., July 10, 2019—Mark Friedlander, a seasoned insurance industry communications and marketing leader, has been appointed as the Insurance Information Institute's (I.I.I.) new Florida-based communica… Read More