LIGHTNING SAFETY: 10 MYTHS—AND THE FACTS Myth #9 – A house will always keep you safe from lightning. Fact: While a house is the safest place you can be during a storm, just going inside isn’t enough. You must avoid any conducting path leading outside, such as electrical appliances, wires, TV cables, plumbing, metal doors or metal window frames. Don’t stand near a

window to watch

FACTS + STATISTICS: ANNUITIES Annuities. Annuities play an important role in retirement planning by helping individuals guard against outliving their assets. In the most general sense, an annuity is an agreement for an entity (generally a life insurance company) to pay another entity a series of payments. While there are many types of annuities, key features can include tax JAMES LYNCH, TRIPLE-I’S CHIEF ACTUARY, TO RETIRE IN LATE For immediate release New York Press Office: Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, April 20, 2021—James Lynch, the Chief Actuary and Senior Vice President, Research and Education, at the Insurance Information Institute (Triple-I), is retiring at the end of May 2021, the Triple-I announced today.. Lynch, who will turn 61 this year, joined the Triple-I in 2014. POWERPOINT PRESENTATIONWEB VIEW Triple-I Update Economic Briefing. Covid-19 Impact on PC Insurance Market: Business Interruption and Pandemics. Thursday, April 16, 2020. Dr. Steven Weisbart, Senior Vice President and Chief Economist Dr. Michel Leonard, CBE, Vice President and Senior Economist YARD SALE: RISK OF LIABILITY A yard sale is a great way to clean out your garage and make some extra cash. But your weekend enterprise can get expensive if someone gets injured and decides to sue. INSURANCE RATING VARIABLES: WHAT THEY ARE AND WHY 2 Rating Variables: What They Are and Why They MatterInsurance CAS & I.I.I. Insurance rating variables: What they are and why they matter It sounds simple: an insurance premium is how much it costs THE EXTERNAL ENVIRONMENT AND INSURANCE 2 Presentation Outline: The External Environment and Insurance Major Categories of External Risks Global Economic Environment Geopolitical Issues Terrorism/Torts/Cyber P/C Insurance & Reinsurance Operating Environment Natural Catastrophe Risk The “New” Investment Environment New Capacity/Capital Reinsurance Insurance Regulatory Trends in the Post-Crisis World REPLACEMENT COST COVERAGE NO HOLDBACK IN FLORIDA Replacement cost coverage has historically been priced to match payouts to receipts. This is a basic insurance principle of indemnity, which is defined as financial compensation sufficient to put a policyholder back in the same financial position as before the loss. NEW VERSION OF KNOW YOUR STUFF Version 3 of the I.I.I.'s Free Downloadable Software Now Available with Secure Online Storage. INSURANCE INFORMATION INSTITUTE Contact:

Press Offices

SOCIAL MEDIA, LIABILITY AND INSURANCE SOCIAL MEDIA, LIABILITY AND INSURANCE DECEMBER 2011 Robert P. Hartwig, Ph.D., CPCU President & Economist (212) 346-5520 bobh@iii.org Claire

Wilkinson

LIGHTNING SAFETY: 10 MYTHS—AND THE FACTS Myth #9 – A house will always keep you safe from lightning. Fact: While a house is the safest place you can be during a storm, just going inside isn’t enough. You must avoid any conducting path leading outside, such as electrical appliances, wires, TV cables, plumbing, metal doors or metal window frames. Don’t stand near a

window to watch

FACTS + STATISTICS: ANNUITIES Annuities. Annuities play an important role in retirement planning by helping individuals guard against outliving their assets. In the most general sense, an annuity is an agreement for an entity (generally a life insurance company) to pay another entity a series of payments. While there are many types of annuities, key features can include tax JAMES LYNCH, TRIPLE-I’S CHIEF ACTUARY, TO RETIRE IN LATE For immediate release New York Press Office: Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, April 20, 2021—James Lynch, the Chief Actuary and Senior Vice President, Research and Education, at the Insurance Information Institute (Triple-I), is retiring at the end of May 2021, the Triple-I announced today.. Lynch, who will turn 61 this year, joined the Triple-I in 2014. POWERPOINT PRESENTATIONWEB VIEW Triple-I Update Economic Briefing. Covid-19 Impact on PC Insurance Market: Business Interruption and Pandemics. Thursday, April 16, 2020. Dr. Steven Weisbart, Senior Vice President and Chief Economist Dr. Michel Leonard, CBE, Vice President and Senior Economist YARD SALE: RISK OF LIABILITY A yard sale is a great way to clean out your garage and make some extra cash. But your weekend enterprise can get expensive if someone gets injured and decides to sue. INSURANCE RATING VARIABLES: WHAT THEY ARE AND WHY 2 Rating Variables: What They Are and Why They MatterInsurance CAS & I.I.I. Insurance rating variables: What they are and why they matter It sounds simple: an insurance premium is how much it costs THE EXTERNAL ENVIRONMENT AND INSURANCE 2 Presentation Outline: The External Environment and Insurance Major Categories of External Risks Global Economic Environment Geopolitical Issues Terrorism/Torts/Cyber P/C Insurance & Reinsurance Operating Environment Natural Catastrophe Risk The “New” Investment Environment New Capacity/Capital Reinsurance Insurance Regulatory Trends in the Post-Crisis World REPLACEMENT COST COVERAGE NO HOLDBACK IN FLORIDA Replacement cost coverage has historically been priced to match payouts to receipts. This is a basic insurance principle of indemnity, which is defined as financial compensation sufficient to put a policyholder back in the same financial position as before the loss. NEW VERSION OF KNOW YOUR STUFF Version 3 of the I.I.I.'s Free Downloadable Software Now Available with Secure Online Storage. INSURANCE INFORMATION INSTITUTE Contact:

Press Offices

SOCIAL MEDIA, LIABILITY AND INSURANCE SOCIAL MEDIA, LIABILITY AND INSURANCE DECEMBER 2011 Robert P. Hartwig, Ph.D., CPCU President & Economist (212) 346-5520 bobh@iii.org Claire

Wilkinson

LIGHTNING SAFETY: 10 MYTHS—AND THE FACTS Myth #9 – A house will always keep you safe from lightning. Fact: While a house is the safest place you can be during a storm, just going inside isn’t enough. You must avoid any conducting path leading outside, such as electrical appliances, wires, TV cables, plumbing, metal doors or metal window frames. Don’t stand near a

window to watch

WORLD INSURANCE MARKETPLACE World insurance premiums rose 2.9 percent in 2019, adjusted for inflation, to $6.3 trillion. Nonlife premiums grew 3.5 percent in 2019, adjusted for inflation, slightly above the rate of growth from 2009 to 2018. Life insurance premiums grew 2.2 percent in 2019, faster than the 1.5 percent rise in 2009 to 2018, adjusted for inflation. BACKGROUND ON: CLIMATE CHANGE AND INSURANCE ISSUES Climate change is a long-term shift in global or regional climate patterns. Often climate change refers specifically to the rise in global temperatures from the mid-20th century to present. There is consensus among the scientific community that global temperatures are rising, with potential risk to the global economy, ecology, and human

health

HOW MUCH HOMEOWNERS INSURANCE DO I NEED? Determine how much insurance you need for your home's structure. Standard homeowners policies provide coverage for disasters such as damage due to fire, lightning, hail and explosions. Those who live in areas where there is risk of flood or earthquake will need coverage for those disasters, as well. In every case, you'll want the limits on your policy to be high enough to cover the cost of FACTS + STATISTICS: PET OWNERSHIP AND INSURANCE Pet insurance. The pet insurance industry got its start almost a century ago in Sweden where about half that country’s pets are now insured. In North America, Veterinary Pet Insurance Co., a subsidiary of Nationwide, sold its first pet insurance policy in 1982 to cover the dog playing Lassie on television. FACTS + STATISTICS: SPORTS INJURIES IN THIS FACTS + STATISTICS. Sports injuries; Sports Injuries By Number Of Injuries, 2019; School sports; Winter sports; Bicycle crashes; Total Motor Vehicle and Pedalcyclist Fatalities, 2009-2018 (1)

TRIPLE-I BLOG

A: The short answer is about 70 million. And as is so often the case, I took a long route to it. The 95 percent is the percentage of people who said they own a home and then answered “yes” to the question of whether they have homeowners insurance. PANDEMIC: CAN THE LIFE INSURANCE INDUSTRY SURVIVE THE Insurance Information Institute 110 William Street New York, NY 10038 (212) 346-5500 www.iii.org 2 Overview Widespread concern exists that the H5N1 influenza virus, a highly lethal virus that now largely

TRIPLE-I BLOG

Global pandemic. Supply-chain disruptions. Increasingly costly cyber-attacks. Extreme weather and other climate-related hazards. And

now, zombies.

FLOOD CARS: HOW TO AVOID PURCHASING A WASHED-UP VEHICLE The facts about flooded cars. Like other natural disasters, floods can create enormous damage to properties and vehicles. Flood vehicles offer a tempting opportunity for criminals to 2021 INSURANCE FACT BOOK 2021 Insurance Fact Book. Click on the chapter headings on the left to navigate the online, members-only version of the Triple-I Insurance Fact Book. The members-only online edition is updated as new data become available and features web extras, including a chart JAMES LYNCH, TRIPLE-I’S CHIEF ACTUARY, TO RETIRE IN LATE For immediate release New York Press Office: Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, April 20, 2021—James Lynch, the Chief Actuary and Senior Vice President, Research and Education, at the Insurance Information Institute (Triple-I), is retiring at the end of May 2021, the Triple-I announced today.. Lynch, who will turn 61 this year, joined the Triple-I in 2014. POWERPOINT PRESENTATIONWEB VIEW Triple-I Update Economic Briefing. Covid-19 Impact on PC Insurance Market: Business Interruption and Pandemics. Thursday, April 16, 2020. Dr. Steven Weisbart, Senior Vice President and Chief Economist Dr. Michel Leonard, CBE, Vice President and Senior Economist

TRIPLE-I BLOG

As it would be if the reference to COVID-19 was deleted. Or if the tweet referred to another form of insurance. Claims sometimes are denied. According to the American Council of Life Insurers 2019 Fact Book, life insurance death benefits paid in 2018 totaled nearly $80 billion, up from $77 billion in 2017. Steadily rising annual payouts

like

HURRICANE SEASON INSURANCE GUIDE Hurricane season takes place June 1 – November 30 every year. Don’t wait until after you have a loss to check your insurance—review your homeowners or renters policies to make you have the right coverage in the event you're hit with a destructive

storm.

PANDEMIC: CAN THE LIFE INSURANCE INDUSTRY SURVIVE THE Insurance Information Institute 110 William Street New York, NY 10038 (212) 346-5500 www.iii.org 2 Overview Widespread concern exists that the H5N1 influenza virus, a highly lethal virus that now largely INSURANCE RATING VARIABLES: WHAT THEY ARE AND WHY 3 Rating Variables: What They Are and Why They MatterInsurance CAS & I.I.I. Why rating variables? When we say that an insurance premium is

the price of an

HOMEOWNERS 3

HOMEOWNERS 3 – SPECIAL FORM - III above; – NEW VERSION OF KNOW YOUR STUFF Version 3 of the I.I.I.'s Free Downloadable Software Now Available with Secure Online Storage. INSURANCE INFORMATION INSTITUTE Contact:

Press Offices

JAPAN’S GREAT TOHOKU EARTHQUAKE Presentation Outline Recent Major Global Catastrophes Summary of March 11, 2011, Earthquake in Japan Discussion by Peril Historical Analysis of Japanese Earthquake Risk Hi t i l A l i f Gl b l E th k Ri kHistorical Analysis of Global Earthquake Risk Historical Analysis of U.S. Earthquake Risk 2010 Catastrophe Loss Summary and Long-Term

Trends

2021 INSURANCE FACT BOOK 2021 Insurance Fact Book. Click on the chapter headings on the left to navigate the online, members-only version of the Triple-I Insurance Fact Book. The members-only online edition is updated as new data become available and features web extras, including a chart JAMES LYNCH, TRIPLE-I’S CHIEF ACTUARY, TO RETIRE IN LATE For immediate release New York Press Office: Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, April 20, 2021—James Lynch, the Chief Actuary and Senior Vice President, Research and Education, at the Insurance Information Institute (Triple-I), is retiring at the end of May 2021, the Triple-I announced today.. Lynch, who will turn 61 this year, joined the Triple-I in 2014. POWERPOINT PRESENTATIONWEB VIEW Triple-I Update Economic Briefing. Covid-19 Impact on PC Insurance Market: Business Interruption and Pandemics. Thursday, April 16, 2020. Dr. Steven Weisbart, Senior Vice President and Chief Economist Dr. Michel Leonard, CBE, Vice President and Senior Economist

TRIPLE-I BLOG

As it would be if the reference to COVID-19 was deleted. Or if the tweet referred to another form of insurance. Claims sometimes are denied. According to the American Council of Life Insurers 2019 Fact Book, life insurance death benefits paid in 2018 totaled nearly $80 billion, up from $77 billion in 2017. Steadily rising annual payouts

like

HURRICANE SEASON INSURANCE GUIDE Hurricane season takes place June 1 – November 30 every year. Don’t wait until after you have a loss to check your insurance—review your homeowners or renters policies to make you have the right coverage in the event you're hit with a destructive

storm.

PANDEMIC: CAN THE LIFE INSURANCE INDUSTRY SURVIVE THE Insurance Information Institute 110 William Street New York, NY 10038 (212) 346-5500 www.iii.org 2 Overview Widespread concern exists that the H5N1 influenza virus, a highly lethal virus that now largely INSURANCE RATING VARIABLES: WHAT THEY ARE AND WHY 3 Rating Variables: What They Are and Why They MatterInsurance CAS & I.I.I. Why rating variables? When we say that an insurance premium is

the price of an

HOMEOWNERS 3

HOMEOWNERS 3 – SPECIAL FORM - III above; – NEW VERSION OF KNOW YOUR STUFF Version 3 of the I.I.I.'s Free Downloadable Software Now Available with Secure Online Storage. INSURANCE INFORMATION INSTITUTE Contact:

Press Offices

JAPAN’S GREAT TOHOKU EARTHQUAKE Presentation Outline Recent Major Global Catastrophes Summary of March 11, 2011, Earthquake in Japan Discussion by Peril Historical Analysis of Japanese Earthquake Risk Hi t i l A l i f Gl b l E th k Ri kHistorical Analysis of Global Earthquake Risk Historical Analysis of U.S. Earthquake Risk 2010 Catastrophe Loss Summary and Long-Term

Trends

FACTS + STATISTICS: SPORTS INJURIES IN THIS FACTS + STATISTICS. Sports injuries; Sports Injuries By Number Of Injuries, 2019; School sports; Winter sports; Bicycle crashes; Total Motor Vehicle and Pedalcyclist Fatalities, 2009-2018 (1) WORLD INSURANCE MARKETPLACE World insurance premiums rose 2.9 percent in 2019, adjusted for inflation, to $6.3 trillion. Nonlife premiums grew 3.5 percent in 2019, adjusted for inflation, slightly above the rate of growth from 2009 to 2018. Life insurance premiums grew 2.2 percent in 2019, faster than the 1.5 percent rise in 2009 to 2018, adjusted for inflation.

TRIPLE-I BLOG

11 hours ago · Global pandemic. Supply-chain disruptions. Increasingly costly cyber-attacks. Extreme weather and other climate-related hazards. And now, zombies. INSURANCE COVERAGE FOR NUCLEAR ACCIDENTS Currently, owners of nuclear power plants pay premiums for $375 million in private liability coverage for each nuclear reactor they own. If there is an incident at a nuclear plant, and the $375 million in coverage is not sufficient, the owner’s coverage is supplemented by the second layer of protection, which is supplied by the nuclear power industry as a whole. BACKGROUND ON: MICROINSURANCE AND EMERGING MARKETS Emerging markets accounted for 18.5 percent of total global premium volume in 2019, compared with 21.3 percent in 2018. Life sector premiums rose 5.6 percent in emerging markets in 2019, after inflation, following a 2.0 percent decrease in 2018. In advanced markets, life premiums rose 1.3 percent in 2019 and 3.9 percent in

2018.

TRIPLE-I BLOG

The 2021 Atlantic hurricane activity is still expected to be above average, according to a June 3 update released by Colorado State University (CSU) hurricane researchers.

TRIPLE-I BLOG

Getty Images. Many people are wondering if disability insurance will cover them if they come down with COVID-19. The answer, as is often the case, is a qualified yes. There are basically three types of disability income insurance: Employer-paid disability insurance, Social Security disability benefits and individual disability income

insurance

FINANCIAL RESULTS

Net income after taxes for the life/annuity insurance industry grew 18.1 percent in 2019 to $44.7 billion from $37.8 billion in 2018, according to S&P Global Market Intelligence. Net income before capital gains grew 21.1 percent in 2019 from 2018, but a net realized capital gains loss of $6.9 billion reduced the net income level to $44.7

billion.

STATE DRIVERS LICENSE RENEWAL LAWS INCLUDING REQUIREMENTS Wyoming. 4. (1) States noted in this column require proof of adequate vision for older drivers at the age shown at every renewal. Most states require all drivers to show proof at every renewal or every in-person renewal. Eight states (Alabama, Connecticut, Kentucky, Mississippi, Oklahoma, Pennsylvania, Tennessee and Vermont) do not

require

TRIPLE-I BLOG

Building codes are critical to disaster mitigation, as well as to enabling families, communities, and businesses to bounce back from natural and man-made catastrophes. III | WE ARE THE TRUSTED SOURCE OF UNIQUE, DATA-DRIVENINSURANCE: THE BASICSRESEARCH + DATARESOURCE CENTERABOUT THE INDUSTRYAUTO INSURANCE I.I.I. Glossary. UNDERWRITING INCOME-The insurer’s profit on the insurance sale after all expenses and losses have been paid.When premiums aren’t sufficient to cover claims and expenses, the result is an underwriting loss. Underwriting losses are typically offset by

investment income.

LIGHTNING SAFETY: 10 MYTHS—AND THE FACTS Myth #9 – A house will always keep you safe from lightning. Fact: While a house is the safest place you can be during a storm, just going inside isn’t enough. You must avoid any conducting path leading outside, such as electrical appliances, wires, TV cables, plumbing, metal doors or metal window frames. Don’t stand near a

window to watch

POWERPOINT PRESENTATIONWEB VIEW Triple-I Update Economic Briefing. Covid-19 Impact on PC Insurance Market: Business Interruption and Pandemics. Thursday, April 16, 2020. Dr. Steven Weisbart, Senior Vice President and Chief Economist Dr. Michel Leonard, CBE, Vice President and Senior Economist FACTS + STATISTICS: MORTALITY RISK RECOVERING FROM AN EARTHQUAKE System vulnerabilities in your home can cause fires and water damage in the wake of an earthquake, so check the following and remember that if there is any question about safety, vacate the premises. Examine utility lines and appliances for damage. If you smell DO I NEED TO INSURE MY HOUSEHOLD HELP? Workers comp provides coverage for medical care and physical rehabilitation for an employee who is injured on the job, as well as lost wages if the employee is severely hurt and no longer able to work. In the worst-case scenario, it also provides death benefits. Find out if your state requires workers compensation for the type of

employees you

INSURANCE RATING VARIABLES: WHAT THEY ARE AND WHY 3 Rating Variables: What They Are and Why They MatterInsurance CAS & I.I.I. Why rating variables? When we say that an insurance premium is

the price of an

SHOULD I INVEST THE AMOUNT I WOULD PAY IN PREMIUMS INSTEAD Here’s why: Assume you’re 55 and won’t need long-term care for 30 years, when you’re 85. Assume you save $2,000 per year 1, that you invest the savings, and that your investment grows at 5 percent per year, net after taxes. After 30 years, your savings will have grown to $139,500. Assume today’s monthly cost of nursing home care

grows

CHINESE DRYWALL FACT SHEET The number of CPSC Chinese drywall complaints stood at a little more than 1,300 as of October 2009, according to news reports. Moreover, thousands of homeowners have filed lawsuits, most of them against builders, contractors and manufacturers involved in the JAPAN’S GREAT TOHOKU EARTHQUAKE Presentation Outline Recent Major Global Catastrophes Summary of March 11, 2011, Earthquake in Japan Discussion by Peril Historical Analysis of Japanese Earthquake Risk Hi t i l A l i f Gl b l E th k Ri kHistorical Analysis of Global Earthquake Risk Historical Analysis of U.S. Earthquake Risk 2010 Catastrophe Loss Summary and Long-Term

Trends

III | WE ARE THE TRUSTED SOURCE OF UNIQUE, DATA-DRIVENINSURANCE: THE BASICSRESEARCH + DATARESOURCE CENTERABOUT THE INDUSTRYAUTO INSURANCE I.I.I. Glossary. UNDERWRITING INCOME-The insurer’s profit on the insurance sale after all expenses and losses have been paid.When premiums aren’t sufficient to cover claims and expenses, the result is an underwriting loss. Underwriting losses are typically offset by

investment income.

LIGHTNING SAFETY: 10 MYTHS—AND THE FACTS Myth #9 – A house will always keep you safe from lightning. Fact: While a house is the safest place you can be during a storm, just going inside isn’t enough. You must avoid any conducting path leading outside, such as electrical appliances, wires, TV cables, plumbing, metal doors or metal window frames. Don’t stand near a

window to watch

POWERPOINT PRESENTATIONWEB VIEW Triple-I Update Economic Briefing. Covid-19 Impact on PC Insurance Market: Business Interruption and Pandemics. Thursday, April 16, 2020. Dr. Steven Weisbart, Senior Vice President and Chief Economist Dr. Michel Leonard, CBE, Vice President and Senior Economist FACTS + STATISTICS: MORTALITY RISK RECOVERING FROM AN EARTHQUAKE System vulnerabilities in your home can cause fires and water damage in the wake of an earthquake, so check the following and remember that if there is any question about safety, vacate the premises. Examine utility lines and appliances for damage. If you smell DO I NEED TO INSURE MY HOUSEHOLD HELP? Workers comp provides coverage for medical care and physical rehabilitation for an employee who is injured on the job, as well as lost wages if the employee is severely hurt and no longer able to work. In the worst-case scenario, it also provides death benefits. Find out if your state requires workers compensation for the type of

employees you

INSURANCE RATING VARIABLES: WHAT THEY ARE AND WHY 3 Rating Variables: What They Are and Why They MatterInsurance CAS & I.I.I. Why rating variables? When we say that an insurance premium is

the price of an

SHOULD I INVEST THE AMOUNT I WOULD PAY IN PREMIUMS INSTEAD Here’s why: Assume you’re 55 and won’t need long-term care for 30 years, when you’re 85. Assume you save $2,000 per year 1, that you invest the savings, and that your investment grows at 5 percent per year, net after taxes. After 30 years, your savings will have grown to $139,500. Assume today’s monthly cost of nursing home care

grows

CHINESE DRYWALL FACT SHEET The number of CPSC Chinese drywall complaints stood at a little more than 1,300 as of October 2009, according to news reports. Moreover, thousands of homeowners have filed lawsuits, most of them against builders, contractors and manufacturers involved in the JAPAN’S GREAT TOHOKU EARTHQUAKE Presentation Outline Recent Major Global Catastrophes Summary of March 11, 2011, Earthquake in Japan Discussion by Peril Historical Analysis of Japanese Earthquake Risk Hi t i l A l i f Gl b l E th k Ri kHistorical Analysis of Global Earthquake Risk Historical Analysis of U.S. Earthquake Risk 2010 Catastrophe Loss Summary and Long-Term

Trends

FACTS + STATISTICS: WILDFIRES 2020: In 2020 there were 58,950 wildfires compared with 50,477 in 2019, according to the National Interagency Fire Center. About 10.1 million acres were burned in 2020, compared with 4.7 million acres in 2019. Six of the top 20 largest California wildfires fires occurred in 2020, according to CalFire’s list.

INSURANCE TOPICS

Everything you always wanted to know about insurance at the click of a mouse. Whether you're looking for basic information about what is in your insurance policy, tips for saving money or an in-depth financial analysis of industry trends, you will find the information you need on a wide range of insurance topics FACTS + STATISTICS: HIGHWAY SAFETY Motor vehicle crashes. 2020: NHTSA estimates that in the first nine months of 2020, which includes about six months of data during the COVID-19 pandemic, traffic fatalities rose 4.6 percent from the first nine months of 2019. At the same time, vehicle miles traveled fell about 14.5 percent. This led to an increase in the fatality rate per 100 million vehicle miles traveled to 1.35, up from 1 FACTS + STATISTICS: MORTALITY RISK Facts + Statistics: Mortality risk. The number of U.S. deaths by firearms, which are defined as the types of guns that can be carried by a person, is higher than the number of Americans killed in motor vehicle crashes. In 2018 about 39,740 people died by firearms, down 0.1 percent from 39,773 deaths in 2017. FACTS + STATISTICS: INSURANCE COMPANY RANKINGS Rank Group/company Direct premiums written (1) Market share (2) 1: State Farm: $66,153,063: 9.1%: 2: Berkshire Hathaway Inc. 46,358,896: 6.4: 3: Progressive Corp FACTS + STATISTICS: ANNUITIES Annuities. Annuities play an important role in retirement planning by helping individuals guard against outliving their assets. In the most general sense, an annuity is an agreement for an entity (generally a life insurance company) to pay another entity a series of payments. While there are many types of annuities, key features can include tax JAMES LYNCH, TRIPLE-I’S CHIEF ACTUARY, TO RETIRE IN LATE For immediate release New York Press Office: Michael Barry, 917-923-8245, michaelb@iii.org NEW YORK, April 20, 2021—James Lynch, the Chief Actuary and Senior Vice President, Research and Education, at the Insurance Information Institute (Triple-I), is retiring at the end of May 2021, the Triple-I announced today.. Lynch, who will turn 61 this year, joined the Triple-I in 2014. FACTS + STATISTICS: MOTORCYCLE CRASHES In 2019, 5,014 motorcyclists died in motorcycle crashes, down slightly from 5,038 in 2018, according to the National Highway Traffic Safety Administration (NHTSA). In 2019, motorcyclists were nearly 29 times more likely than passenger car occupants to die in a crash per vehicle miles traveled. Note: statistics on fatal motorcycle crashes are

TRIPLE-I BLOG

Triple-I CEO Sean Kevelighan recently briefed regulators on the steps U.S. insurers are taking to reduce climate-related risks as weather-related catastrophes increase in frequency and severity.. Environmental, Social, and Governance (ESG) issues are in the insurance industry’s DNA, Sean said in a panel discussion hosted by the National Association of Insurance Commissioners’ (NAIC MARKET CONDITIONS: CYCLES AND COSTS Property/Casualty Insurance Cycle The property/casualty (P/C) insurance industry cycle is characterized by periods of soft market conditions, in which premium rates are stable or falling and insurance is readily available, and by periods of hard market conditions, where rates rise, coverage may be more difficult to find and insurers’

profits increase.

III | WE ARE THE TRUSTED SOURCE OF UNIQUE, DATA-DRIVENINSURANCE: THE BASICSRESEARCH + DATARESOURCE CENTERABOUT THE INDUSTRYAUTO INSURANCE Our Promise We are the Insurance Information Institute. Since 1960, we have been the trusted source of unique, data-driven insights on insurance to inform and empower consumers. LIGHTNING SAFETY: 10 MYTHS—AND THE FACTS Myth #9 – A house will always keep you safe from lightning. Fact: While a house is the safest place you can be during a storm, just going inside isn’t enough. You must avoid any conducting path leading outside, such as electrical appliances, wires, TV cables, plumbing, metal doors or metal window frames. Don’t stand near a

window to watch

FACTS + STATISTICS: AVIATION AND DRONES POWERPOINT PRESENTATIONWEB VIEW Triple-I Update Economic Briefing. Covid-19 Impact on PC Insurance Market: Business Interruption and Pandemics. Thursday, April 16, 2020. Dr. Steven Weisbart, Senior Vice President and Chief Economist Dr. Michel Leonard, CBE, Vice President and Senior Economist BACKGROUND ON: CAPTIVES AND OTHER RISK-FINANCING OPTIONS MUNICIPAL ACCIDENT RESPONSE FEES The practice of billing insurance companies for various accident response services is a trend that began in several Midwestern states and has spread to other states across the U.S. Fees vary from jurisdiction to jurisdiction. Various sources indicate that municipalities charge anywhere from $100 to $2,000 for response

services.

INSURANCE FOR LANDSLIDES AND MUDFLOW A. Yes. Mudflow is covered by flood insurance, which is available from FEMA’s National Flood Insurance Program (NFIP) and some private insurance companies. Like flood, however, mudflow is excluded from standard homeowners and business insurance policies—you must buy the coverage separately. Federal flood insurance is available for

HOMEOWNERS 3

HOMEOWNERS 3 – SPECIAL FORM - III above; – IF YOU ARE PLANNING TO REMODEL YOUR HOME, NOTIFY YOURHOW MUCH TO REMODEL A HOMEHOME REMODEL LOANSINSURANCE FOR HOME RENOVATION “If you plan to remodel your home, contact your insurance agent, broker or company representative. You want to be sure that you have all of the necessary insurance coverages during and after the renovation,” pointed out Jeanne M. Salvatore, senior vice president and consumer spokesperson for the I.I.I. “Don’t make the mistake of waiting until after your renovation is underway or you FLORIDA'S ASSIGNMENT OF BENEFITS CRISIS Executive summary It is a standard practice throughout the insurance world: As a convenience, a policyholder grants a third party – an auto glass repair company, a medical practitioner, a home contractor – permission to directly bill an insurer to settle a claim. III | WE ARE THE TRUSTED SOURCE OF UNIQUE, DATA-DRIVENINSURANCE: THE BASICSRESEARCH + DATARESOURCE CENTERABOUT THE INDUSTRYAUTO INSURANCE Our Promise We are the Insurance Information Institute. Since 1960, we have been the trusted source of unique, data-driven insights on insurance to inform and empower consumers. LIGHTNING SAFETY: 10 MYTHS—AND THE FACTS Myth #9 – A house will always keep you safe from lightning. Fact: While a house is the safest place you can be during a storm, just going inside isn’t enough. You must avoid any conducting path leading outside, such as electrical appliances, wires, TV cables, plumbing, metal doors or metal window frames. Don’t stand near a

window to watch

FACTS + STATISTICS: AVIATION AND DRONES POWERPOINT PRESENTATIONWEB VIEW Triple-I Update Economic Briefing. Covid-19 Impact on PC Insurance Market: Business Interruption and Pandemics. Thursday, April 16, 2020. Dr. Steven Weisbart, Senior Vice President and Chief Economist Dr. Michel Leonard, CBE, Vice President and Senior Economist BACKGROUND ON: CAPTIVES AND OTHER RISK-FINANCING OPTIONS MUNICIPAL ACCIDENT RESPONSE FEES The practice of billing insurance companies for various accident response services is a trend that began in several Midwestern states and has spread to other states across the U.S. Fees vary from jurisdiction to jurisdiction. Various sources indicate that municipalities charge anywhere from $100 to $2,000 for response

services.

INSURANCE FOR LANDSLIDES AND MUDFLOW A. Yes. Mudflow is covered by flood insurance, which is available from FEMA’s National Flood Insurance Program (NFIP) and some private insurance companies. Like flood, however, mudflow is excluded from standard homeowners and business insurance policies—you must buy the coverage separately. Federal flood insurance is available for

HOMEOWNERS 3

HOMEOWNERS 3 – SPECIAL FORM - III above; – IF YOU ARE PLANNING TO REMODEL YOUR HOME, NOTIFY YOURHOW MUCH TO REMODEL A HOMEHOME REMODEL LOANSINSURANCE FOR HOME RENOVATION “If you plan to remodel your home, contact your insurance agent, broker or company representative. You want to be sure that you have all of the necessary insurance coverages during and after the renovation,” pointed out Jeanne M. Salvatore, senior vice president and consumer spokesperson for the I.I.I. “Don’t make the mistake of waiting until after your renovation is underway or you FLORIDA'S ASSIGNMENT OF BENEFITS CRISIS Executive summary It is a standard practice throughout the insurance world: As a convenience, a policyholder grants a third party – an auto glass repair company, a medical practitioner, a home contractor – permission to directly bill an insurer to settle a claim. MOBILE HOME INSURANCE Mobile home coverage – Mobile home insurance policies provide two basic kinds of insurance—coverage for physical damage and personal liability coverage. These coverage options are generally available for rental mobile homes, commercial mobile homes, mobile homes that are used seasonally, or mobile homes located in a park or on private

property.

TRIPLE-I BLOG

Triple-I CEO Sean Kevelighan recently briefed regulators on the steps U.S. insurers are taking to reduce climate-related risks as weather-related catastrophes increase in frequency and severity.. Environmental, Social, and Governance (ESG) issues are in the insurance industry’s DNA, Sean said in a panel discussion hosted by the National Association of Insurance Commissioners’ (NAIC

TRIPLE-I BLOG

The 2021 Atlantic hurricane activity is still expected to be above average, according to a June 3 update released by Colorado State University (CSU) hurricane researchers. WHAT IS AUTO INSURANCE? Understanding auto insurance—the basics. Auto insurance is a contract between you and the insurance company that protects you against financial loss in the event of an accident or theft. In exchange for your paying a premium, the insurance company agrees to pay your losses as outlined in your policy. Auto insurance provides

coverage for

INSURANCE LEADING ON CLIMATE RISK Triple-I CEO Sean Kevelighan made the following presentation during the panel, “The Scope and Pervasiveness of the Financial Risks Related to Climate Change,” at the June 1, 2021, National Association of Insurance Commissioners meeting, “Solvency Workstream of the Climate and Resiliency (Ex) Task Force.” ENVIRONMENTAL LIABILITY INSURANCE Property owners purchase environmental impairment liability insurance. It covers property loss and liability arising from pollution-related damages for sites that have been inspected and found uncontaminated. It is usually written on a claims-made basis so policies pay only claims presented during the term of the policy or within a specified

ABOUT US | III

Senior Advisor, International Finance Corporation | The World Bank

Group. View Bio.

GETTING THE RIGHT INSURANCE COVERAGE FOR MOVING Released value protection is offered at no additional charge beyond the moving fee. However, it provides only a minimal protection— no more than 60 cents per pound per article. So if your mover loses or damages a 10-pound stereo component valued at $1,000, you would only receive $6.00 in compensation (60 cents x 10 pounds). Separate

liability

TRIPLE-I BLOG

Building codes are critical to disaster mitigation, as well as to enabling families, communities, and businesses to bounce back from natural and man-made catastrophes. KEROSENE HEATER SAFETY Kerosene heaters consume oxygen as they burn. If they are operated in a small room or in an inadequately ventilated area, oxygen in the air could be reduced to a dangerous level. Reduced oxygen supply could lead to incomplete combustion of fuel and the production of carbon

monoxide.

Home

Sign In

Search iii.org

MAIN

INSURANCE: THE BASICS * About the Industry

* Auto Insurance

* Homeowners + Renters Insurance

* Life Insurance

* Financial Planning * Business Insurance * Disasters + Preparedness * Thought Leadership * Other Insurance Topics

RESEARCH + DATA

* Auto

* Catastrophes

* Commercial

* Crime + Fraud

* Homeowners

* Insurance Industry

* Life + Health

* Technology

RESOURCE CENTER

* Apps

* Event Calendar

* I.I.I. Glossary

* I.I.I. Store

* Latest Studies

* Newsroom

* Presentations

* Publications

* The I.I.I. Insurance Blog

* Video Library

MEMBERSHIP

* Learn More About Membership * Register for a Member Account

EN ESPAÑOL

* Conceptos Básicos de Seguros

CONNECT WITH US

*

*

*

*

* Popular search terms

* Automobile

* Home + Renters

* Claims

* Fraud

* Hurricane

* Popular Topics

* Automobile

* Home + Renters

* The Basics

* Disaster + Preparation

* Life Insurance

POPULAR MEDIA

* Video Library

* Research + Data

* Newsroom

OUR PROMISE

We are the Insurance Information Institute. Since 1960, the "Triple I" has had a single mission: To improve public understanding of insurance—what it does and how it works. We are here to serve everybody: consumers; students and educational institutions; insurance professionals; government and regulatory organizations; and the media.

Learn More

How TRIA would handle 9/11 The 9/11 attacks generated by far the most insured losses of any terrorism event. How would the Terrorism Risk Insurance Act (TRIA) created in the wake of that event financially handle a similar event? Plus: I.I.I. white paper: A world without TRIA: Incalculable risk

white paper

Registration now open for Joint Industry Forum 2020 Interview with Darla Finchum, head of MetLife Auto & Home Don't get burned by e-cigarettes Wildfire response: A conversation with a fire chief

NEW AND TRENDING

Auto Insurance 8 questions to ask before buying auto insurance The vehicle you own, your personal priorities and your budget all factor into your unique auto insurance needs. Before comparing policies and insurers, evaluate how you use your car and what risks you face to figure out what options make the best sense for you.

article

Business Insurance

Understanding business owners policies (BOPs)

article

Life Insurance 8 smart steps for buying life insurance

article

Homeowners + Renters Insurance

Your renters

insurance guide

article

Travel company collapse offers lessons in risk

INSIGHT + ANALYSIS

Insurance rating variables: What they are and why they matter Rating variables are an indispensable tool for setting the cost of insurance and restricting their use can have unintended consequences, according to a new paper released jointly by the Casualty Actuarial Society (CAS) and the Insurance Information Institute.

white paper

Cannabis and the workplace: Haze of confusion

white paper

Insurance Industry Global macro and insurance outlook

article

Industry update: Yesterday, today and tomorrow

presentation

Life + Health Facts + Statistics: Life

insurance

FACTS + STATISTICS

I.I.I. GLOSSARY

PROOF OF LOSS- Documents showing the insurance company that a loss

occurred.

TERRORISM COVERAGE- Included as a part of the package in standard commercial insurance policies before September 11, 2001 virtually free of charge. Since September 11, terrorism coverage prices have increased substantially to reflect the current risk.

See Full Glossary

Most Popular Most Shared * Facts + Statistics: Wildfires * Facts + Statistics: Pet statistics * Nine ways to lower your auto insurance costs * Understanding the insurance claims payment process * Facts + Statistics: Identity theft and cybercrime * Five insurance mistakes to avoid... (and still save money) * Facts Statistics: Mortality risk * How to prevent auto theft and carjacking * What is covered by standard homeowners insurance? * What is a loss history report?

THOUGHT LEADERSHIP

I.I.I. NEWS WIRE

* I.I.I. To Salute Resiliency Innovators at 2019’s InsureTech

Connect Conference

For immediate release New York Press Office: (212) 346-5500; media@iii.org NEW YORK, September 20, 2019—The Resiliency Innovation Challenge will conclude on Wednesday, Sept. Read More * I.I.I., University of Pennsylvania Announce Winning Teams in 2nd Annual Hack-for-Resilience For immediate release New York Office: (212) 346-5500; media@iii.org NEW YORK, September 17, 2019—Four student entries were given top honors this month at a competition aimed at improving individual and community resilience to natural disasters and co-sponsored by the Insurance Informat… Read More See More News Releases

EVENTS CALENDAR

* Central States Actuarial Forum (CSAF) 2019 Annual Meeting

October 14

2019

Location: Des Moines, IA; Website * Conference on Data in the New: Transforming Insurance

October 17

2019

Tobin College of Business, St. John’s University: The Center for Executive Education and Accenture (our platinum sponsor) will be holding our third insurtech-related Thought Leadership event on October 17. The program will be a mix of presentations and panel discussions delivered by industry experts. The fee for the day is $195. Location: 101 Astor Place, New York, NY 10003; Website

See More Events

Connect With Us

*

*

*

*

* Main

* Insurance: The Basics

* Research + Data

* Resource Center

* En Español

* Conceptos Básicos de Seguros

* Membership

* Learn More About Membership * Register for a Member Account

* More

* About the I.I.I.

* Industry Directory

* Permissions

* Privacy Policy

* Site Map

* Terms of Use

� Copyright 2019, Insurance Information Institute, Inc. All Rights Reserved.

Close

SIGN IN

Please sign in to access member exclusive content.

Email Address *

Enter your username (email)

Password *

Enter your password.

Forgot Password?

DON'T HAVE AN ACCOUNT?

REGISTER NOW

Learn more about membership -------------------------