By Loretta Worters, Vice President – Media Relations, Triple-I When you think about domestic violence, insurance typically isn’t top of mind. But financial security and access to resources can make all the difference to victims when deciding to leave an abusive relationship. And insurance is an important component of financial planning that can help survivors … Continue reading As COVID-19 Drives Rise in Domestic Abuse, Insurers Seek to Empower Victims→
A new survey from the Insurance Research Council (IRC) finds that two-thirds of respondents worked from home at least part of the time during the COVID-19 pandemic. The survey, conducted in October, also reveals half expect to continue working from home entirely or alternate between working and not working from home in the future. Many … Continue reading Insurance Will Face COVID-19 Side-effects Even After Pandemic Ends→
The vast majority of Americans believe COVID-19 relief should come via public policy solutions — and not litigation — according to polling released last week by the American Tort Reform Association (ATRA). Key takeaways from the poll include: 59% say those harmed by the pandemic should get assistance from policies passed by elected officials, versus … Continue reading Study: Most Americans disapprove of COVID-19 lawsuits, prefer government aid for small businesses→
So far, the impact of COVID-19 on workers compensation has not been as great as first feared. The National Council on Compensation Insurance (NCCI) reported that as of the second quarter 2020, out of every 100,000 active workers comp claims, COVID-19 medical claims accounted for only about 200, depending on the jurisdiction. Still, the pandemic … Continue reading What COVID-19 means for workers comp claims→
More people died in New York City automobile accidents in 2020 than in 2019, despite greatly reduced driving as a result of the COVID-19 pandemic and subsequent economic slowdown. The local trend is consistent with broader ones recently referenced by Triple-I senior vice president and chief actuary James Lynch. As of this morning’s reporting on … Continue reading Will PandemicDriving Trends PersistAfter COVID-19 Passes?→
Anticipation that a COVID-19 vaccine – combined with social distancing, mask wearing, and other protective measures – may soon lead to increased travel revives our need to think about travel insurance. Even before COVID-19, travel insurance purchases were on the rise, but primarily for trip cancellation coverage – the very product that wound up disappointing … Continue reading Travel Risk: It’s NotAll About COVID-19→
Drivers seem to have become more comfortable in the past year with the idea of giving up their data to help insurers more accurately price their coverage. In May 2019, mobility data and analytics firm Arity surveyed 875 licensed drivers over the age of 18 to find out how comfortable they would be having their … Continue reading Usage-Based Insurance Gets Confidence Boost During COVID-19 Pandemic→
The COVID-19 pandemic has disproportionately affected minority communities across the United States. A less reported but no less significant part of that story has been the disease’s impact on tribal populations. According to the Center for American Progress, the Navajo Nation has one of the highest infection rates in the country – and they’re not … Continue reading Tribal Communities Disproportionately Hurt by COVID-19→
At a recent webinar hosted by the American Tort Reform Association (ATRA), Cary Silverman, a partner at the law firm of Shook, Hardy & Bacon, presented a breakdown of COVID-19-related litigation drawn from his firm’s research. The charts below are based on 4,283 complaints that – while not comprehensive – provide a useful snapshot of … Continue reading COVID-19-Related Litigation: A Snapshot→
The pandemic affected almost every link in the property/casualty value chain, but the industry weathered the stress well, according to Triple-I’s chief actuary, James Lynch. “The U.S.’s property/casualty (P/C) insurers provided premium relief, retained employees, and weathered a capital market downturn while navigating this year’s COVID-19 pandemic,” he said at the Casualty Actuarial Society’s (CAS) … Continue reading Triple-I’s Chief Actuary: Insurers Are Navigating COVID-19’s Economic Fallout→
