Courtesy of iii.org HOLIDAY FIRE LOSSES Fireworks On Independence Day in a typical year, far more U.S. fires are reported than on any other day, and fireworks account for two out of five of those fires, according to the National Fire Protection Association (NFPA). Fireworks caused an estimated 17,800 reported fires, including 1,200 total structure …
Courtesy of iii.org It is a standard practice throughout the insurance world: As a convenience, a policyholder grants a third party – an auto glass repair company, a medical practitioner, a home contractor – permission to directly bill an insurer to settle a claim. That practice is called an assignment of benefits, usually known by …
Courtesy of iii.org The 2018 Atlantic hurricane season was less active than the 2017 season but still caused extensive property damage across the southeastern United States, according to the Insurance Information Institute (I.I.I.). The 2018 hurricane season officially concludes tomorrow (Nov. 30) and saw the formation of 15 named storms. Eight of the 15 became …
Courtesy of iii.org I came across this from Swiss Re around 2 a.m., which helps explain why it caught my (sleepy) eye: Consider these two facts: Firstly, two out of three man-made losses worldwide are due to human failure. Based on Swiss Re’s sigma research, this would mean that people trigger a loss volume of …
