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Facts + Statistics: Homeowners and renters insurance
April 12, 2024

... theft, accounted for 97.7 percent of homeowners insurance claims in 2021 (latest data available). Changes in the percentage of each type ... are two ways of looking at losses: by the average number of claims filed per 100 policies (frequency) and by the average amount paid for ...


Understanding your insurance deductibles
March 11, 2024

... you have an insured loss worth $10,000, you would receive a claims check for $9,500. Percentage deductibles generally only apply to ... special deductibles may apply for homeowners insurance claims when the cause of damage is attributable to a hurricane. Whether a ...


Understanding the insurance claims payment process
January 5, 2024

... and file for an additional amount. Most policies require claims to be filed within one year from the date of disaster; check with your ... backer is a co-insured, they will have to endorse the claims payment check before you can cash it. Depending on the ...   Next steps: We can't reinforce it enough - claims are easier to make when you have a home inventory ready ! ...


How legal system abuse drives social inflation
July 17, 2022

... practices which increase costs and time to settle insurance claims. While litigation is considered a policyholder’s last resort, legal ... has found. Legal system abuse refers to disputed insurance claims which could have been resolved without litigation. ...


Background on: Terrorism risk and insurance
April 18, 2024

... including commercial liability and group life insurance claims. 3 About two thirds of these losses were paid for by reinsurers, ... Furthermore, the range of possible severity of terrorism claims is much larger than in other lines of insurance. Acts of terrorism ...


Facts + Statistics: Auto insurance
April 18, 2024

... with a $500 deductible for collision and comprehensive claims. These figures are not comparable with the National Association of ... Tables //--> Auto claims Liability insurance pays for the policyholder’s legal ... (1) For all limits combined. Data are for paid claims. (2) Excludes Massachusetts and most states with no-fault automobile ...


Background on: Reinsurance
November 24, 2020

... to ensure it will be able to pay all potential future claims related to the policies it issues. This requirement protects consumers ... can reduce its responsibility, or liability, for these claims by transferring a part of the liability to another insurer, it can lower ...


Spotlight on: Dog bite liability
April 8, 2024

... a muzzle, chain or cage. Homeowners insurance liability claims Liability claims related to dog bites and other dog-related injuries cost homeowners ...


Triple-I: Dog-Related Injury Claim Payouts Hit $1.12 Billion in 2023
April 8, 2024

... insurers paid out $1.12 billion in dog-related injury claims in 2023 according to the Insurance Information Institute (Triple-I) ... that in 2023, the number of dog bite and related injury claims was 19,062, an increase of more than 8% from 2022 and a 110% increase ...


Triple-I: 2024 Atlantic Hurricane Season Forecast to be ‘Very Active’
April 4, 2024

... possessions and your home’s exterior, which will ease the claims-filing process. Preparing a  hurricane emergency kit with a ... an Effective Evacuation Plan Settling Insurance Claims After a Disaster Spotlight on Flood Insurance Facts ...