insurance Information Institute News

IMCA Presents ‘Innovation Torchbearer Award’ to Insurance Information Institute

  The Insurance Information Institute (I.I.I.) has been awarded the 2015 Innovation Torchbearer Award at the Insurance Marketing & Communications Association’s (IMCA) 2015 Annual Conference  in Nashville, Tenn. The I.I.I. is a non-profit communications organization supported by the insurance industry. …

Texas Tops in Lightning Damage Claim Amounts

Lightning damage is the most striking in Texas, at least for the insurance industry. The average claim in the state was $10,671 last year, the Insurance Information Institute said in a statement. That’s the highest figure among the 10 states …

Agent Support, Ratings Added to Expanding Google Compare

The auto insurance comparison website Google Compare is expanding into Texas, Illinois and Pennsylvania, as well as adding ratings and insurance agent support. That announcement was made Tuesday by Stephanie Cuthbertson, group product manager for Google Compare, at Google’s annual …

Nepal Earthquake Losses Could Top $2 Billion; Sparse Insurance Coverage

The earthquake that struck Nepal caused about $2 billion in economic losses in the country, and only a fraction of the cost will be incurred by insurers, according to Kinetic Analysis Corp. Damage in India could cost an additional $800 …

Climate Change Report Slams Insurers for ‘Profound Lack of Preparedness’

A report on the insurance industry released Wednesday shows “a profound lack of preparedness in addressing climate-related risks and opportunities.” Insurance industry representatives immediately criticized the report as a negative take on the industry’s ability to adapt and not reflective of …

I.I.I.: 13 Years After 9/11, Threat of Terrorist Attack Remains Real

The Insurance Information Institute said this week that the threat of terrorist attack remains real and that the 13-year anniversary of the Sept. 11 terror attack is a reminder of the urgent need for federal lawmakers to reauthorize the terrorism …

Twenty Years Later Big Lesson From Northridge Quake Lost

Twenty years ago today a big one hit the Los Angeles area, killing several people and injuring thousands, damaging tens of thousands of properties, shutting down businesses, putting out of operation some of the nation’s busiest freeways and radically changing …

Ex-Treasury Official Wolin Urges Federal, State Collaboration to Improve Regulation

To make continued improvements in the U.S. insurance regulatory system, it’s imperative for state and federal officials to work collaboratively and share information and perspectives, said former Deputy Treasury Secretary Neal S. Wolin, who delivered the keynote speech at the …

P/C Insurance Executives Expect Flood Insurance Delay, TRIA Renewal, Industry Consolidation

A survey conducted at the Insurance Information Institute’s Property/Casualty Insurance Joint Industry Forum in New York Tuesday asked industry leaders for their outlook on 12 topics — ranging from the Terrorism Risk Insurance Act and the Biggert-Waters Flood Insurance Reform …

P/C Insurers Face Challenge to Match 2013 Results in 2014

The U.S. property/casualty insurance industry reported strong performance in 2013, but in 2014, the industry may find it difficult to match last year’s results as insurers begin to face more headwinds, according to executives who spoke at the Insurance Information …