A pandemic drives the expansion of captive insurance
Captive insurance, a type of self-insurance in which one or more businesses establish their own insurance firm, has grown in popularity as a result of the coronavirus pandemic and…
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Over Five Years, Lightning Sparks More Than $1 Billion in Homeowner Claims
60,000+ policyholders received more than $1 billion in lightning-related homeowner insurance payouts in 2021, with California alone accounting for $522 million, or 40% of the total ($1 billion) paid…
Nearly $900 Million in Dog-Related Injury Claims in 2021
By Loretta Worters, Vice President of Triple-Media I's Relations Pet owners will leave their animals at home alone when they return to work or school. Behavior problems like…
Matching cost to risk keeps insurance accessible and affordable.
It seems straightforward to base insurance costs on the degree of risk assumed. If insurers had to determine a fixed price for coverage without taking into account specific risk…
Lawsuits Pose a Risk of Increasing Ian’s Cost
According to Mark Friedlander, corporate relations director of Triple-I, litigation expenses might increase insured losses from Hurricane Ian by $10 billion to $20 billion, further hurting Florida's already troubled…
As hurricane season begins, the Florida P&C crisis gets worse.
As the hurricane season of 2022 approaches, three Florida insurers have already been deemed insolvent this year for failing to get full reinsurance. Mark Friedlander, director of communications…
As construction costs rise, think about your homeowners’ coverage
Homeowners should consider rising construction and maintenance expenses when choosing their insurance, especially as hazards associated with weather and the environment increase. For the purposes of homeowners insurance,…