This report examines what key leading economic indicators show for the P/C industry, and also includes a deep dive into personal auto plus a special section on how and where political risk insurance is growing.
After a disaster, you want to get back to normal as soon as possible, and your insurance company wants that too! You may get multiple checks from your insurer as you make temporary repairs, permanent repairs and replace damaged belongings. Here's what you need to know about claims payments.
For the U.S. property/casualty (P/C) insurance industry, 2018 was a year of unusual experience. Results were good in comparison with 2017—but 2017 was a horrible year. Premiums, investment income and profits rose, buoyed by a surprisingly strong U.S. economy, but interest rates sagged, and fears of a looming recession grew.
GUARANTY FUND- The mechanism by which solvent insurers ensure that some of the policyholder and third-party claims against insurance companies that fail are paid. Such funds are required in all 50 states, the District of Columbia and Puerto Rico, but the type and amount of claim covered by the fund varies from state to state. Some states pay policyholders’ unearned premiums—the portion of the premium for which no coverage was provided because the company was insolvent. Some have deductibles. Most states have no limits on workers compensation payments. Guaranty funds are supported by assessments on insurers doing business in the state.
NON-ADMITTED ASSETS- Assets that are not included on the balance sheet of an insurance company, including furniture, fixtures, past-due accounts receivable, and agents’ debt balances. (See Assets )See Full Glossary
Whether an employee injured on the job can receive workers’ compensation for #medicalmarijuana to treat their injury depends entirely on the laws of the state in which that employee works. At present, medical #marijuana laws vary widely by jurisdiction. Download the I.I.I.’s latest white paper, “#HazeOfConfusion: How Employers and Insurers are Affected by a Patchwork of State Marijuana Laws,” for facts and insights on this complex legal landscape. #marijuananews #insurancenews https://qoo.ly/yhhp5 #insurancenews #marijuananews
#Medicalmarijuana laws are rapidly changing from state to state. But what is the impact of legal #marijuana on workplace safety, employer duties and obligations and workers’ comp insurance? Download the I.I.I.’s latest white paper, “#HazeOfConfusion: How Employers and Insurers are Affected by a Patchwork of State Marijuana Laws,” for key facts and analysis of this emerging workplace issue. https://qoo.ly/ygv6x #insurancenews #marijuananews As a bonus for I.I.I. members, there will be a live webinar on July 11th that discusses this publication’s findings. Please contact firstname.lastname@example.org for more information on how you can join this session. #marijuananews #insurancenews
The Insurance Information Institute has extensive information on #earthquake #insurance coverage and earthquake statistics. For more information, click here: https://bit.ly/2YBMUvT #Calquake #EarhquakeLA #insurancenews
Dr. Steve Quarles performed a 🔥🔥 demonstration today at the #Rebuild with #Resilience Press Conference. The I.I.I. and other #insurance organizations work to bring #wildfire safety awareness to Northern California and across the nation.
The I.I.I.’s Janet Ruiz speaks at today's #Rebuild with #Resilience Press Conference - “It is important to prepare for catastrophes such as #wildfires financially. Be sure you have enough #insurance to rebuild your home and replace your belongings in case of a loss.”
With more than 30 states now allowing patients legal access to #medicalmarijuana products, many are wondering about the consequences for #driving safety. To learn more about #marijuana impairment, check out our report here: https://qoo.ly/xpcij #cannabis #impaireddriving
Today, I.I.I.'s Sr. Economist Dr. Michel Leonard joined Plug and Play Tech Center for Bridge The Gap 2019 in Silicon Valley to speak on the “#BigData and Various Uses and #Regulatory Implications” panel. #insuretech National Association of Insurance Commissioners #insurance #technologynews #insurtech
For immediate release New York Press Office: (212) 346-5500; email@example.com NEW YORK, July 11, 2019 — Tropical Storm Barry has the potential to cause property damage along the Gulf Coast which is covered under different insurance policies, according to the Insurance Information Institute (I.I.I.… Read More
For immediate release New York Press Office: (212) 346-5500; firstname.lastname@example.org JACKSONVILLE, Fla., July 10, 2019—Mark Friedlander, a seasoned insurance industry communications and marketing leader, has been appointed as the Insurance Information Institute's (I.I.I.) new Florida-based communica… Read More