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On a Leash: Dog Bite Insurance Claim Trends

Wed, 15 May 2013 15:03:31 +0000

Dog bites accounted for more than one-third of all homeowners insurance liability claim dollars paid out in 2012, costing more than $489 million, according to the industry’s Insurance Information Institute (III) and insurer State Farm. While the number of claims …

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Utica National’s Robinson Elected Chairman of I.I.I.

Fri, 18 Jan 2013 16:37:23 +0000

J. Douglas Robinson, chairman of the board and chief executive officer of the Utica National Insurance Group, has been elected 2013 chairman of the Insurance Information Institute (I.I.I.). He succeeds Gregory Ator, president, CEO and chairman, Bituminous Insurance Companies.The I.I.I. …

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Insurance Executives Say Ongoing Budget Battles Will Harm U.S. Economy

Thu, 17 Jan 2013 15:28:50 +0000

Leaders of the property/casualty insurance industry believe Washington’s ongoing budget fracas will have a negative impact on the U.S. economy, according to a survey conducted by the Insurance Information Institute at its 17th annual Property/Casualty Insurance Joint Industry Forum, held …

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I.I.I. Offers Advice to Business Owners on Preparing for Adjuster’s Visit

Thu, 15 Nov 2012 17:53:58 +0000

The Insurance Information Institute today issued a step-by-step guide to help business owners who are filing a claim in the wake of Sandy. The Institute said there are steps business owners can take now to make the most of the …

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Controversy Over Hurricane Deductibles May Just Be Beginning

Fri, 02 Nov 2012 12:30:01 +0000

When the National Hurricane Center declared Sandy a “post-tropical storm” just before it made landfall, a lot of homeowners across New Jersey, New York, Connecticut and Maryland may have saved a lot of money. The governors of these states have …

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P/C Industry Should Not Expect Traditional Hard Market Soon: Hartwig

Tue, 26 Jun 2012 13:30:48 +0000

Although insurance rates have been drifting upward in recent months, the property/casualty industry is unlikely to see a return to the traditional hard market this year or next, an insurance expert told reinsurance actuaries at the Casualty Actuarial Society’s Seminar …

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Rates for Good Drivers in Cities Too High, Too Variable, Says Consumer Group

Tue, 19 Jun 2012 13:26:13 +0000

The Consumer Federation of America (CFA) says that most good drivers — those with no accidents or moving violations — who live in moderate-income areas in 15 cities are being quoted what the group maintains are high auto insurance rates …

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Warm Weather, Dry Conditions Could Mean More Wildfires in Northeast

Thu, 12 Apr 2012 16:57:28 +0000

Northeastern states are not known for frequent wildfires and brushfires. But that could be changing this spring as the region faces record-high temperatures and unusually dry conditions. “With more than 15,000 temperature records broken in the U.S. in March 2012 …

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Mayer Brown Adds Woods As Partner And Global Co-Leader

Mon, 09 Apr 2012 12:00:38 +0000

Global law firm Mayer Brown named veteran insurance regulatory advisor James R. Woods as a partner and a co-leader of the global Insurance Industry Group. Also a member of Mayer Brown’s corporate and securities practice, Woods will divide his time …

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Consumer Group Charges Auto Insurers with ‘Disparate Treatment’ of Low Income Families

Don Jergler — Tue, 31 Jan 2012 00:04:19 +0000

A consumer group on Monday issued a study that alleges “disparate treatment” of low-to moderate-income families by auto insurers nationwide. The group is asking state insurance commissioners to consider lowering minimum liability coverage requirements and creating low-income purchase programs. The …

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P/C CEOs Look Back on the Financial Storm That Was 2011

Young Ha — Tue, 17 Jan 2012 14:58:36 +0000

A panel of CEOs at a recent industry forum looked back and shared their thoughts on 2011, the year of record-high catastrophe loss for many carriers. Ohio Mutual Insurance Group CEO James Kennedy said that small- and mid-size mutual insurance …

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P/C CEOs Say Low Interest Rates Push Need for Stringent Underwriting

Young Ha — Tue, 17 Jan 2012 14:54:35 +0000

The low interest-rate environment and poor investment income are pushing the need for more stringent underwriting for carriers, according to a panel of experts at a recent industry forum. Property/casualty insurers get part of their revenues from the interest generated …

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I.I.I. Survey: P/C Executives Expect Improved Profitability in 2012

Young Ha — Wed, 11 Jan 2012 17:42:32 +0000

Most property/casualty insurance executives believe the worst of the financial crisis is over and that the industry is now in the early stages of a hard market, according to a survey from the Insurance Information Institute. The I.I.I. conducted the …

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Insurers Boost California’s Economy by $34.7 Billion

Tue, 29 Nov 2011 17:44:33 +0000

California’s a $1.9 trillion economy gets a multi-billion dollar boost from the property/casualty insurance industry, according to a report from the Insurance Information Institute issued Tuesday. In 2009, insurers contributed $34.7 billion to California’s gross state product, accounting for about …

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Is the World a Riskier Place? Insurance Industry’s Hartwig Answers

Thu, 03 Nov 2011 00:30:55 +0000

“Is the world becoming a riskier place?” That was the question posed by Insurance Information Institute President and Chief Economist Robert Hartwig during his talk at the annual Professional Liability Underwriting Society Conference in San Diego on Wednesday, which drew …

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Insurer Group NAMIC Honors Hartwig

Wed, 21 Sep 2011 20:05:45 +0000

The National Association of Mutual Insurance Companies (NAMIC) named Robert P. Hartwig, Ph.D., president/CEO of the Insurance Information Institute, New York, N.Y., as the association’s 2011 Chairman’s Award winner. Hartwig has been with III since 1998, initially as an economist …

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Allstate Files $5 Million Insurance Fraud Case in New York

Britton Wells — Wed, 24 Aug 2011 12:55:08 +0000

Allstate Insurance Company is seeking to recover $5 million against 10 New York area defendants in its fourth insurance fraud lawsuit of 2011. Since 2003, Allstate has filed 31 fraud lawsuits in New York State, seeking more than $170 million …

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