Insurance Information Institute
Posted: Jun 15, 2020
This article from Milliman, a risk management and benefits firm, considers the refunds insurance companies issued to customers during the COVID-19 pandemic from a tax and actuarial perspective. When considering auto refunds, the average cost per clai...
Posted: Jun 14, 2020
By Dr. Steven Weisbart, Chief Economist, Insurance Information Institute
Posted: Jun 11, 2020
The world’s 10 largest insurance markets are cumulatively expected to see gross domestic product (GDP) decrease by 4.9 percent in 2020 compared to 2019 because of COVID-19, according to a new Insurance Information Institute (Triple-I) report. “Given...
Posted: Jun 10, 2020
This study of 40,123 auto insurance customers found that for the first time in the study's 21-year history, insurance company websites surpassed agents in client interaction and service, providing higher customer satisfaction. However, the difference...
Posted: Jun 10, 2020
The report indicates that rates for directors and officers liability insurance (D&O) would increase by 100 percent as insurers take steps to protect themselves from increased shareholder litigation over the last three years and lawsuits in the future...
Posted: Jun 09, 2020
Posted: Jun 09, 2020
Posted: Jun 08, 2020
According to this report, workers compensation claims in the contracting industry showed a relatively higher number of cases involving opioid use, and the costs were almost 100 percent higher compared with other industry groups. Researchers examined...
Posted: Jun 07, 2020
By Dr. Steven Weisbart, Chief Economist, Insurance Information Institute The
Posted: Jun 05, 2020
Posted: Jun 04, 2020
The 2020 Atlantic hurricane season activity is projected to be "well above average,” according to Triple-I non-resident scholar Dr. Phil Klotzbach. Dr. Klotzbach, an atmospheric scientist at Colorado State University (CSU), and his team issued an upd...
Posted: Jun 03, 2020
This study warns that autonomous vehicles (AVs) would probably prevent only one-third of all vehicle crashes. About 94 percent of crashes occur because of driver error, but AVs will still crash if they make the same mistakes as humans. This study hig...
Posted: Jun 03, 2020
Riots across the U.S. and the subsequent damage to thousands of businesses have many business owners askin...
Posted: Jun 03, 2020
“Social inflation” is the name used to describe growth in liability risks and costs related to litigation trends. A new white paper by the Insurance Research C...
Posted: Jun 02, 2020
“Social inflation” is the name used to describe growth in liability risks and costs related to litigation trends. This whitepaper by the Insurance Research Council (IRC) examines this phenomenon and shows that insurers’ losses across several business...
Posted: May 31, 2020
Posted: May 29, 2020
On May 21 the National Oceanic and Atmospheric Administration (NOAA) issued its official pre-season forecast, which predicts a season with above average activity, with 13 to 19 named storms and three to five major hurricanes. This latest annual CoreL...
Posted: May 28, 2020
Measuring and forecasting inflation is important in setting premiums and anticipating claims. Historically, recessions tend to drive prices down, but that’s not necessarily true for insurance. This presentation by Triple-I Chief Economi...
Posted: May 27, 2020
This risk bulletin concludes that restrictions on supply chains and travel related to COVID-19 could have a serious impact on the maritime industry. The pandemic has idled many ships that are facing new risks as they are anchored at a fixed location...
Posted: May 27, 2020
Wildfire risks have increased worldwide and the assessment of wildfire risk for property insurance is complex and depends on many fields of expertise, such as large-scale data and analytics and scientific measurements of wildland fuels. The report pr...
Posted: May 26, 2020
Posted: May 26, 2020