The Triple-I, the trusted source for data driven insights on risk and insurance, today released its latest issues brief highlighting how excessive litigation is compounding a years-long problem of rising auto insurance costs. See also: Triple-I Issues Brief and Triple-I Blog.
The loss of personal data and operational obstacles caused by cybercrimes is a big concern to insurers. NAIC President Andrew Mais says cyber resilience should become part of the insurance industry’s matrix to protect consumers. See video: Cybercrimes & insurance protection; Articles: Cyber insurance can protect the future of your business or Cyber insurance: a key part of a robust business strategy.
To amplify the Triple-I commitment to Diversity, Equity, and Inclusion (DEI) in the workplace, Triple-I partnered with HBCU IMPACT®, whose mission is to increase the number of Black professionals in the insurance, risk management, financial services, and legal industries. View videos: HBCU Impact.
ADJUSTER- An individual employed by a property/casualty insurer to evaluate losses and settle policyholder claims. These adjusters differ from public adjusters, who negotiate with insurers on behalf of policyholders, and receive a portion of a claims settlement. Independent adjusters are independent contractors who adjust claims for different insurance companies.
CATASTROPHE DEDUCTIBLE- A percentage or dollar amount that a homeowner must pay before the insurance policy kicks in when a major natural disaster occurs. These large deductibles limit an insurer’s potential losses in such cases, allowing it to insure more property. A property insurer may not be able to buy reinsurance to protect its own bottom line unless it keeps its potential maximum losses under a certain level.See Full Glossary
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