The Triple-I and The Institutes have announced that the two organizations would enter an affiliation whereby The Institutes would bring the Triple-I brand into The Institutes structure, making the two "better empowered to serve those interested in risk management and insurance.” Learn more
Though fireworks are legal in some form in most states, they can be very dangerous when not handled by professionals. According to the National Fire Protection Association, fireworks caused 19,500 fires in 2018. A recent wildfire in Utah that prompted the evacuation of 100 homes was attributed to fireworks. Video
The world’s 10 largest insurance markets are cumulatively expected to see gross domestic product (GDP) decrease by 4.9 percent in 2020 compared to 2019 because of COVID-19. “The most likely outcome for the rest of 2020 is a slow recovery, with multiple false starts and step backs, that does not stabilize until well into 2021,” according to Dr. Michel Léonard, Triple-I vice president and senior economist, author of the report. | Video
ANNUITIZATION- The conversion of the account balance of a deferred annuity contract to income payments.
ADVERSE SELECTION- The tendency of those exposed to a higher risk to seek more insurance coverage than those at a lower risk. Insurers react either by charging higher premiums or not insuring at all, as in the case of floods. (Flood insurance is provided by the federal government but sold mostly through the private market.) In the case of natural disasters, such as earthquakes, adverse selection concentrates risk instead of spreading it. Insurance works best when risk is shared among large numbers of policyholders.See Full Glossary
SACRAMENTO, Calif., July 2, 2020 /PRNewswire/ -- The cancellation of Independence Day professional fireworks programs this year could raise the risk of wildfires as more amateurs undertake their own pyrotechnic shows, according to four organizations who focus on risk mitigation. Read More
For immediate release MEDIA CONTACTS: Michael Barry, for the Insurance Information Institute firstname.lastname@example.org 917-923-8245 Vanessa Valore, for The Institutes Valore@TheInstitutes.org 610-644-2100, ext. Read More