Tag: Insurance Information Institute

Natural disaster damage sends homeowners insurance rates skyward

Marc
Natural Disaster Damage - Tornado destruction

Insured losses resulting from claims relating to Mother Nature have been climbing sharply. Natural disaster damage has been sending homeowners insurance claims upward and, as a result, it has meant that rates for policies have been rising, too. A new analysis showed that severe storms and other catastrophes are becoming more common. Over the last ten years, natural disaster damage has become more commonplace and more expensive for homeowners and insurers. According to a new analysis, this is causing home insurance rates to head sky high. The analysis was done…

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Georgia auto insurance rates driven skyward by massive crashes

G. Turner
georgia auto insurance news

Serious car wrecks are becoming more frequent in the state, making it more costly to insure vehicles. Georgia auto insurance rates are expected to rise yet again, following several other consecutive increases. According to experts in the industry, the growing expense associated with car insurance premiums has to do with the number of serious crashes in the state. The number of accidents and the severity of the crashes are both on the rise and it is costing insurers. As a result, Georgia auto insurance companies find themselves raising their rates…

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California wildfire insurance rates are heading skyward

G. Turner
california wildfire insurance - Homeowners insurance reforms

In southern parts of the state, residents have been watching their premiums rise due to the fires. Dozens of Southern Californians are threatened by forest fires and at the same time as they worry for their homes, they are watching their California wildfire insurance premiums skyrocket. Many houses have already been damaged – or nearly damaged – which can be enough to affect premiums. That said, it’s important to note that wildfire insurance won’t automatically spike right away. The odds are that California wildfire insurance rates will rise. This is…

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California insurance industry trends forum hears from Schwarzenegger about risk

H. Cutner
Arnold Schwarzenegger California insurance industry trends

The former state governor and well known actor weighed in at the Southern California university event. Actor and former governor Arnold Schwarzenegger spoke at a California insurance industry trends forum this week in order to discuss certain central topics such as that of risk. He spoke to insurance students and professionals in the industry about what it took to play some of his most famous roles. Schwarzenegger also took the chance to use the California insurance industry trends seminar to discuss the types of risks he faced when he originally…

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Insurance Information Institute reveals winter-related payouts from 2015

G. Turner
homeowners insurance information institute winter snow ice

American insurers paid policyholders $2.9 billion for damage related to winter weather. The Insurance Information Institute (I.I.I.) has released its data with regards to the payments made by insurers in the United States for claims relating to winter weather, and what they’ve said is that those payouts reached a total of about $2.9 billion, last year. That said, despite those winter-related payments, the I.I.I. says insurance companies are still financially strong. Despite the payments the insurers faced in the U.S., the Insurance Information Institute explained that those companies will still…

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