Overview

Besides the tragic loss of human life, the economic costs of terrorism are immense: increased security and anti-terrorist expenditures, consumer and investor uncertainty, supply chain and business continuity disruptions, industry retrenchment – all and more can have negative impacts on economic growth.¹

Overview

Distracted driving remains a major roadway safety threat, involving behaviors such as talking or texting on mobile devices, eating, conversing with passengers, and other diversions while operating a vehicle.

The use of mobile phones and other electronic devices while driving has emerged as one of the leading causes of distracted driving related crashes. However, research shows that many types of distracted driving may lead to crashes and near crashes.

How big is the distracted driving problem?

Overview

Reinsurance is insurance for insurance companies. It’s a way of transferring some of the financial risk insurance companies assume in insuring cars, homes and businesses to another insurance company, the reinsurer.

Overview

About 65 million U.S. households own dogs, according to the American Pet Products Association’s 2022-2023 Pet Owners Survey. The American Veterinary Medical Association states there are nearly 90 million dogs living in U.S. households. About 4.5 million people are bitten by dogs each year, most of them children.

Overview

The term “catastrophe” in the property insurance industry denotes a natural or man-made disaster that is unusually severe. An event is designated a catastrophe by the industry when claims are expected to reach a certain dollar threshold, currently set at $25 million, and more than a certain number of policyholders and insurance companies are affected.

What are insurance scores? 

Insurance scores, which are also referred to as credit-based insurance scores, are ratings based fully or partially on a consumer's credit information. Insurers use credit information with other factors to help underwrite and price policies. These confidential ratings are typically used for personal lines such as homeowners and personal automobile insurance. 

What is workers compensation?

Workers compensation insurance provides for the cost of medical care, rehabilitation, and wage replacement for injured workers and death benefits for the dependents of persons killed in work-related accidents. In recent years, it has been the most profitable property/casualty line of business.

Overview

Insurance is generally bought directly through an insurer or through independent agents and commercial brokers who provide access to the products of several insurers. Direct writers dominate auto and homeowners insurance sales, while commercial insurance is more commonly purchased through independent agents or brokers.

Insurance distribution channels and processes are being transformed by technology advances and market pressures such as changing buyer behavior; new products; consolidation; expense pressures; growth challenges; and new non-traditional entrants.

Overview

No-fault auto insurance laws require every driver to file a claim with their own insurance company after an accident, regardless of who was at fault. In states with no-fault laws, all drivers are required to purchase personal injury protection (PIP), as part of their auto insurance policies.

In its strictest form, the term no-fault applies only to state laws that both provide for the payment of no-fault first-party benefits and restrict the right to sue, the so-called “limited tort” option.