Insurance Information Institute

U.S. Treasury weighs in on debate surrounding business interruption insurance

The U.S. Treasury Department issued a letter to members of Congress on May 8 which argued that proposals to force insurers to retroactively change business interruption (BI) policies to pay losses arising from the COVID-19 pandemic threaten the ab...

Posted: May 12, 2020

NCCI issues State of the Line report at AIS virtual event

On May 12 NCCI reported its financial results during its annual State of the Line report at its first virtual Annual Issues Symposium (AIS). For Calendar-Year 2019 the combined ratio for workers compensation insurance was 85 percent for private carri...

Posted: May 11, 2020

Triple-I financial analysis of P/C insurer performance in 2019

This report by Triple-I's chief economist is based on ISO/Verisk's property/casualty (P/C) insurer financial data for 2019. The year was characterized by relatively low catastrophe losses, which cannot be counted on to recur on a regular basis. Net i...

Posted: May 06, 2020

Severe convective storms. Evolving risks call for innovation to reduce costs, drive resilience

Severe convective storms, which include thunderstorms, tornadoes and hail, are among the most common and damaging natural catastrophes in the United States. These storms were the costliest peril for insurers in 2019. The start of this year's convecti...

Posted: May 06, 2020

A Toast to Marine Insurance!

Posted: May 05, 2020

Trade war and pandemic to accelerate global supply chain restructuring

This report concludes that the coronavirus pandemic will accelerate changes to the global supply chain already in motion due to the US-China trade war, and subsequently spur new insurance opportunities. Eighty-two percent of respondents to a recent s...

Posted: May 04, 2020

Scenario Analysis of the COVID-19 Pandemic

In this report Willis Towers Watson (WTW) warns that industry-wide insurance losses from the coronavirus pandemic will likely exceed losses from the 2001 World Trade Center attack and could reach $140 billion at the extreme tail-end of probabilities....

Posted: Apr 30, 2020

Storms surging: Building resilience in extreme weather

Noting that the intensity, frequency, and duration of North Atlantic hurricanes and the frequency of Category 4 and 5 hurricanes have all increased since the early 1980s the report states that hurricane-associated flooding and rainfall rates are proj...

Posted: Apr 30, 2020

Hiscox Cyber Readiness Report 2020

An international survey commissioned by insurer Hiscox indicates that businesses' cyber losses have shown a nearly six-fold increase during the last year, rising from a median cost of $10,000 per firm to $57,000. Total cyber losses among the study gr...

Posted: Apr 30, 2020

National Adopt A Shelter Pet Day – April 30, 2020

By Kris Maccini, Director, Social Media, Insurance Information Institute Triple-I Employees Share Pet Adoption Stories

Posted: Apr 30, 2020

Virus-death surge may mean $7.2 billion in life insurance claims

According to an Aite Group LLC study, U.S. life insurers may experience as high as $7.2 billion in claims if coronavirus deaths rise to the high end of projections of 150,000. The estimate includes costs for policyholders between the ages of 56 and 7...

Posted: Apr 29, 2020

Triple-I economic snapshot: Quarterly P/C industry snapshot

This report discusses the economic forces affecting property/casualty (P/C) insurance. The report begins with an analysis of six of the economic indicators that impact the P/C casualty industry and compares 2019 performance to 2020 projections. P/C p...

Posted: Apr 28, 2020