The Terrorism Risk Insurance Act (TRIA) expires at the end of 2020 but insurers are already grappling with the possibility of a world without TRIA. While the private market for terrorism insurance has grown, there are doubts whether the industry can write terrorism insurance without a federal backstop.
In the event of a fire or other disaster, would you be able to remember all your possessions? Having an up-to-date home inventory will help you get your insurance claim settled faster, verify losses and help you purchase the correct amount of insurance.
Rating variables are an indispensable tool for setting the cost of insurance and restricting their use can have unintended consequences, according to a new paper released jointly by the Casualty Actuarial Society (CAS) and the Insurance Information Institute.
GAP INSURANCE- An automobile insurance option, available in some states, that covers the difference between a car’s actual cash value when it is stolen or wrecked and the amount the consumer owes the leasing or finance company. Mainly used for leased cars. (See Actual cash value )
MARINE INSURANCE- Coverage for goods in transit, and for the commercial vehicles that transport them, on water and over land. The term may apply to inland marine but more generally applies to ocean marine insurance. Covers damage or destruction of a ship’s hull and cargo and perils include collision, sinking, capsizing, being stranded, fire, piracy, and jettisoning cargo to save other property. Wear and tear, dampness, mold, and war are not included. (See Inland marine insurance, Ocean marine insurance )See Full Glossary
For immediate release New York Press Office: (212) 346-5500; email@example.com NEW YORK, September 20, 2019—The Resiliency Innovation Challenge will conclude on Wednesday, Sept. Read More
For immediate release New York Office: (212) 346-5500; firstname.lastname@example.org NEW YORK, September 17, 2019—Four student entries were given top honors this month at a competition aimed at improving individual and community resilience to natural disasters and co-sponsored by the Insurance Informat… Read More