Personal Insurance

Insurance Careers Corner: Q&A with Rahel Abraham, ClimaGuard

Insurance Careers Corner: Q&A with Rahel Abraham, ClimaGuard

August 7, 2020

By Kris Maccini, Social Media Director, Triple-I Triple-I’s “Insurance Careers Corner” series was created to highlight trailblazers in the insurance industry and to spread awareness on the career opportunities within the industry. This month we interviewed Rahel Abraham, CEO of ClimaGuard, a Houston-based start-up that provides protective coverings for cars (and personal belongings) to prevent […]

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Property/Casualty Insurance Industry Suffered Largest-Ever Drop in Surplus in the First Quarter of 2020

Property/Casualty Insurance Industry Suffered Largest-Ever Drop in Surplus in the First Quarter of 2020

August 3, 2020

Insurers Face Multiple Challenges as Impacts of COVID-19 Continue to Unfold The surplus for the private U.S. property/casualty insurance industry dropped by $75.9 billion in the first quarter of 2020—its largest-ever quarterly decline—as the stock market suffered a major downturn, according to Verisk (Nasdaq:VRSK), a leading data analytics provider, and the American Property Casualty Insurance […]

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COVID-19 and Workers Compensation: Impact Will Become Clearer … Eventually

COVID-19 and Workers Compensation: Impact Will Become Clearer … Eventually

July 30, 2020

By John Novaria The impact of COVID-19 on workers compensation will come down to several fundamental questions in the coming months: Who’s at work? Who’s going back to work? And under what circumstances? Experts addressed these questions during a webcast jointly sponsored by Triple-I and the National Council on Compensation Insurance (NCCI). The discussion was […]

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Based on gas consumption, we’re nearly back to driving at pre-pandemic/recession levels

Based on gas consumption, we’re nearly back to driving at pre-pandemic/recession levels

July 26, 2020

By Dr. Steven Weisbart, Chief Economist, Insurance Information Institute The U.S. Energy Information Administration (EIA) publishes extensive data on petroleum production, refining and supplies to users, with some data provided on a weekly basis. Gasoline supplied to retailers is not quite the same as gasoline consumed but it is close. And gasoline consumed is not […]

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Social Inflationand COVID-19

Social Inflationand COVID-19

July 22, 2020

“Social inflation” refers to rising litigation costs and their impact on insurers’ claim payouts, loss ratios, and, ultimately, how much policyholders pay for coverage. While there’s no universally agreed-upon definition, frequently mentioned aspects of social inflation are growing awards from sympathetic juries and a trend called “litigation funding”, in which investors pay plaintiffs to sue […]

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My floodiversary

My floodiversary

July 18, 2020

Getty Images Today marks one year when my car got flooded, I got stranded, and I learned a huge lesson: I call it my floodiversary. We keep a small saltwater tank, and to keep the tank healthy, it needs regular water changes. Before the Fourth of July weekend I decided to swing by the local […]

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Understanding FEMA and other flood maps

Understanding FEMA and other flood maps

July 14, 2020

On June 29 the First Street Foundation, a nonprofit research firm, released an analysis of flood risk which shows that nearly 6 million of the nation’s properties are at more substantial risk of flooding than indicated by the Federal Emergency Management Agency’s (FEMA) maps. FEMA replied with a statement that its maps are intended for […]

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Gauging Pandemic’s Impact on Insurers

Gauging Pandemic’s Impact on Insurers

July 10, 2020

While COVID-19’s impact on the insurance industry will require time to fully understand, litigation, legislation, and concerns about pricing and policy language will be with us for some time to come. “Significant” changes in policy language seen The majority of respondents to an Artemis re/insurance market survey believe the COVID-19 pandemic will result in “significant changes” to […]

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Insurance Careers Corner: Q&A with Mary Jo Hudson, Squire Patton Boggs

Insurance Careers Corner: Q&A with Mary Jo Hudson, Squire Patton Boggs

July 6, 2020

Triple-I’s “Insurance Careers Corner” series was created to highlight trailblazers in the insurance industry and to spread awareness on the career opportunities within the industry. This month Kris Maccini, director, social media, Triple-I, interviewed Mary Jo Hudson, Partner, Squire Patton Boggs who provided insights about her career trajectory, LGBTQ+ support in the workplace, and implications […]

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Lightning-related homeowners insurance claims down, costs up

Lightning-related homeowners insurance claims down, costs up

July 2, 2020

The number of lightning-caused U.S. homeowners insurance claims has decreased over the past few years, yet the average cost per claim has increased, according to Insurance Information Institute (Triple-I) findings. “It’s not surprising that lightning-related homeowners insurance claims costs have risen,” said James Lynch, chief actuary and senior vice president of Research and Education at […]

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