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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
We need to bridge the flood insurance ‘coverage gap’

This op-ed by Sean Kevelighan, the CEO of the Insurance Information Institute, explains what happens when there is a disparity between insured losses—damages that are covered under an insurance policy—and uninsured losses, which are paid out-of-pocket by individuals affected by a catastrophe, such as flooding. With the approach of hurricane season, this is an ideal teachable moment.

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Homeowners + Renters Insurance Sinkholes and insurance

Sinkholes—depressions in the surface of the ground caused by the sudden settlement or collapse of the land—are a natural component of the landscape in many states. While the risk of a sinkhole is low, the fallout is potentially devastating to a homeowner. 

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Insight + Analysis

Insurance Industry Animal-related insurance losses up by 6 percent 2014-2017

The National Insurance Crime Bureau (NICB) released a study today on the number of animal-related insurance losses for the years 2014-2017. A total of 1,740,425 animal-related insurance claims were processed with 1,739,687 of them (99.9 percent) involving vehicles. Since many drivers do not carry insurance for this type of event, the real number of incidents is likely much higher. 

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I.I.I. Glossary

UMBRELLA POLICY- Coverage for losses above the limit of an underlying policy or policies such as homeowners and auto insurance. While it applies to losses over the dollar amount in the underlying policies, terms of coverage are sometimes broader than those of underlying policies.

CONTINGENT LIABILITY- Liability of individuals, corporations, or partnerships for accidents caused by people other than employees for whose acts or omissions the corporations or partnerships are responsible.

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Two of our top five #mostpopular articles in "The Daily" came from A.M. Best Company this week. If you want to get "The Daily" emails, send us a message. TIME Reuters Washington Post

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Which critters caused the most damage to motor vehicles from 2014-17? The latest #IIIBlog entry has the answer (and other wild facts that will make you say “oh, deer!”). Check the link in the comments for more information from National Insurance Crime Bureau. #animals #insurance

On May 11-16 a series of #wind, #hail and #rain storms struck most states east of the #RockyMountains. One catastrophe modeling firm estimates that the storms will cost insurers $2.5 billion: #IIIBlog

Parks Associates Research indicates that almost 60% of U.S. #broadband households with #insurance are likely to buy #smarthome devices: Verisk Verisk - insurance solutions Pixabay Electronic House

The National Oceanic and Atmospheric Administration (NOAA) has just released their #hurricaneseason forecast for 2018 and it calls for the highest likelihood of a near-normal season: 10-16 named #storms, 5-9 #hurricanes and 1-4 major hurricanes. Check the link in the comments for more information. NASA - National Aeronautics and Space Administration U.S. National Weather Service (NWS) NOAA NWS National Hurricane Center FEMA Federal Emergency Management Agency #HurricanePrep

#TBT to the 2018 P/C #Insurance Joint Industry Forum. The I.I.I. were honored to host #PCForum2018, where leaders from insurance and other fields gathered to discuss how economic and political disruption, innovation and government affairs would shape our industry--today and in the future. Thanks to all who joined us--and stay tuned for news about #PCForum2019! #insurance #forum Terrell Davis

The unfolding outbreak of the #Ebola virus in the Democratic Republic of #Congo may activate pandemic #catastrophe bonds, said a recent Artemis.bm - Catastrophe bonds, ILS, reinsurance convergence #blog post. Check the link in the comments for more information. #IIIBlog

On average, it costs > 40% more to repair #petdamage to furniture than #damage due to other causes, according to Safeware: via West Unified Communications Services #pets

Need information on the rapidly growing #insurance industry? Download our #FactBook2018 at the link in the comments:

#Coveragegaps are a topic discussed by many but understood by few. With the approach of #hurricane season, this is an ideal “teachable moment:" via The Palm Beach Post & I.I.I.'s Sean Kevelighan FEMA Federal Emergency Management Agency National Flood Insurance Program #hurricaneprep

Thought Leadership

I.I.I. News Wire

Register for the Property/Casualty Industry’s 2017 Financial Results Webinar

FOR IMMEDIATE RELEASE I.I.I. New York Press Office: (212) 346-5500; media@iii.org  NEW YORK, May 10, 2018 —The Insurance Information Institute (I.I.I.), Verisk Analytics (ISO), and the Property Casualty Insurers Association of America (PCI) … Read More

MEDIA ADVISORY: I.I.I. Can Provide Information On Insurance Issues Raised By This Week’s Wildfires In Colorado, Kansas, Oklahoma, And Texas

FOR IMMEDIATE RELEASE New York Press Office: (212) 346-5500; media@iii.org Kim Kirchner, Coburn Communciation: (212)-536-9837; Kim.Kirchner@coburnww.com   New York, April 20, 2018—Thousands of residents and firefighters in four U.S. Read More

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Events Calendar

I.I.I. June Communications Committee Meeting
June
13
2018
For additional information, please contact Katrina Cheung at katrinac@iii.org.
I.I.I. June Board Meeting
June
14
2018
For additional information, please contact Valerie Germain at valerieg@iii.org
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