insurance Information Institute News

I.I.I. on Business Insurance Lessons Learned From Sandy

The difficulty many businesses had reopening after Superstorm Sandy is a reminder of the importance of having a disaster recovery plan and the right type and amount of insurance, according to the Insurance Information Institute (I.I.I.). The I.I.I. notes that …

On a Leash: Dog Bite Insurance Claim Trends

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 …

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

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. …

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

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 …

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

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 …

Controversy Over Hurricane Deductibles May Just Be Beginning

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 …

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

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 …

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

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 …

Warm Weather, Dry Conditions Could Mean More Wildfires in Northeast

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 …

Mayer Brown Adds Woods As Partner And Global Co-Leader

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 …