Insurance Information Institute

• Industry Reaction: Mayor Bloomberg’s $20B Plan to Shield NYC from Climate Change

  By Anya Khalamayzer, PropertyCasualty360.com  |  June 17, 2013

  New York City Mayor Michael Bloomberg announced an ambitious, multi-decade plan that would put $20 billion toward protecting the city against natural disasters caused by climate change.

• California Auto Insurance Rates Decrease, Bucking U.S. Trend

  By Mark E. Ruquet, PropertyCasualty360.com  |  June 14, 2013

  California auto insurance buyers are paying less for coverage than they were two decades ago while rates rose substantially for the rest of the country, says the Consumer Federation of America.

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  Fighting Fraud Offers Insurers Operational Improvements

  By Sanjeev Kumar  |  June 13, 2013

  Ten percent of the incurred losses and loss adjustment expenses each year in the property & casualty insurance industry are due to insurance fraud.

• P&C Carriers Lose Jobs in April; Agent & Broker 2013 Employment Slide Continues

  By Phil Gusman, PropertyCasualty360.com  |  June 11, 2013

  Property and casualty insurers shed 1,400 jobs in April compared to March, an unusual occurrence that bucks the recent trend of employment gains for April, according to Insurance Information Institute President Robert Hartwig.

• Analysis: As Hurricanes Loom, Florida Insurance Lives on 'Borrowed Time'

  By David Adams, Reuters  |  June 3, 2013

  Florida has enjoyed a record run of seven years without a hurricane making landfall, but industry experts question whether Florida's state-controlled insurance system is able to cope in the long term.

• Insurers Ready for Strong Hurricane Season; Supply-Chain Concerns Loom

  By Anya Khalamayzer, PropertyCasualty360  |  May 30, 2013

  Despite 10 of the 12 costliest storms for insurers occurring within the last decade, industry experts—staring in the face of yet another predicted above-average hurricane season—say insurers are prepared.

• House Enters NFIP Rate-Hike Battle with Bill to Delay Some Reforms

  By Arthur D. Postal, PropertyCasualty360.com  |  May 24, 2013

  Before going home for Memorial Day, Louisiana House members Thursday introduced legislation aimed at forestalling major increases in flood program rates starting next year.

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  Oklahoma Tornado Preparedness Lauded by Some, Questioned by Others

  By Anya Khalamayzer, PropertyCasualty360  |  May 23, 2013

  As news reports question the lack of shelters in Oklahoma, insurance experts say that Tornado Alley residents are more prepared than ever to handle tornado damage.

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  Insurers, Officials Begin to Assess Damage from Oklahoma Tornado

  By Anya Khalamayzer, PropertyCasualty360  |  May 22, 2013

  Oklahoma Insurance Commissioner John Doak said damages from the Moore, Okla. tornado may exceed $3 billion while AIR Worldwide estimates that the replacement value of damaged properties around the track of the tornado could be as high as $6 billion.

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  All About Tornadoes

  By Phil Gusman, PropertyCasualty360.com  |  May 21, 2013

  Tornadoes have caused $97.8 billion in insured losses in the U.S. between 1990 and 2009, making these weather events second only to hurricanes for that period as the costliest natural disasters. Learn about the damage caused to the U.S. in recent years from these weather events.

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  Twister Levels Oklahoma Town as Midwest Storm System Lingers

  By Anya Khalamayzer, PropertyCasualty360  |  May 21, 2013

  Average tornadoes move at less than 35 miles per hour and last just a few minutes, but yesterday a two-mile wide EF4 tornado packing 166 to 200 mph winds ripped through the suburbs of Oklahoma City for 40 minutes.

• NAMIC Opposes Mandatory Coverage for Gun Owners in D.C.

  By Anya Khalamayzer, PropertyCasualty360.com  |  May 17, 2013

  Under the proposal, the state’s current 2,000 registered gun owners and all future buyers would have to take out a $250,000 policy covering damage from any gun use, even willful and illegal acts.

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  Auto Recalls Likely Won’t Impact Insurance for Manufacturers

  By Anya Khalamayzer, PropertyCasualty360.com  |  May 15, 2013

  A series of car recalls to hit the automotive industry this spring, including investigations of models created by Ford, Chrysler, Chevrolet and Toyota, is unlikely to impact auto manufacturer’s insurance rates.

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  Top 10 States for Dog Bite Claims

  By Caterina Pontoriero, PropertyCasualty360.com  |  May 15, 2013

  It’s a dog-eat-dog world, and last year 3,670 State Farm customers were wearing Milk-Bone underwear. Click to see State Farm’s top 10 states for dog bite claims in 2012.

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  CFA's Hunter, I.I.I.'s Hartwig Spar on Need for TRIA Renewal

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 8, 2013

  In the latest war of words over the future of the Terrorism Risk Insurance Act, the president of the Insurance Information Institute accuses the Consumer Federation of America of being anti-consumer for its opposition to an extension.

• P&C Carriers Add Jobs in March; Agent/Broker Employment Continues to Decline

  By Phil Gusman, PropertyCasualty360.com  |  May 6, 2013

  Property and Casualty carriers added 900 jobs in March -- a month that saw employment shrink in most other sectors of the insurance industry, according to an analysis of the latest figures from the U.S. Labor Department’s Bureau of Labor Statistics.