Business Insurance

Protect your business with customized insurance solutions. Cover your assets, employees, and operations against potential risks and liabilities.

Extreme Weather’s Seasonal Severity Impacts Rates, Regardless of Inflation, Price Gouging

June 28, 2021

Extreme Weather’s Seasonal Severity Impacts Rates, Regardless of Inflation, Price Gouging

Tweet Losses from the winter storm that swept through the southern United States earlier this year continue to loom large among the concerns of property and casualty insurers, even a

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IRC: Homeowners Insurance Affordability Worsens Nationally, Varies Widely by State

May 14, 2024

IRC: Homeowners Insurance Affordability Worsens Nationally, Varies Widely by State

Tweet By Max Dorfman, Research Writer, Triple-I Average U.S. homeowners insurance premiums have increased at a rate that has outpaced household income from 2001 to 2021, accor

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Relocated Due to Ida? You Might Be Covered for Additional Living Expenses

September 8, 2021

Relocated Due to Ida? You Might Be Covered for Additional Living Expenses

Tweet Standard homeowners and renters insurance policies include additional living expenses (ALE) coverage. ALE pays the costs of living away from home—above and beyond your custom

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Despite High-Profile Events, U.S. Wildfire Severity, FrequencyHave Been Declining

December 12, 2023

Despite High-Profile Events, U.S. Wildfire Severity, FrequencyHave Been Declining

Tweet With record-breaking wildfires making headlines in recent years, it may be surprising to learn that U.S. wildfire frequency and severity for in 2023 are on track to be the lowe

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FEMA Reauthorization Session Highlights Importance of Risk Transfer and Reduction

January 30, 2024

FEMA Reauthorization Session Highlights Importance of Risk Transfer and Reduction

Tweet If there was a recurring theme in last week’s Senate Banking Committee hearing on reauthorization of FEMA’s National Flood Insurance Program (NFIP), it was the need for

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Dog bite claims fell 4.6 percent in 2020 despite pandemic pet adoption surge

April 8, 2021

Dog bite claims fell 4.6 percent in 2020 despite pandemic pet adoption surge

Tweet Pandemic-related lockdowns have led many people to bring new furry friends into their homes. A survey from the Insurance Research Council (IRC), found that 21 percent of ho

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Buyer beware: In Barry’s wake, flooded cars are about to hit the used car market, NICB warns

July 17, 2019

Buyer beware: In Barry’s wake, flooded cars are about to hit the used car market, NICB warns

Tweet Getty Images Hurricane Barry made landfall on July 13 as the first hurricane of the 2019 season, dumping heavy rain on parts of Louisiana, Mississippi and Arkansas. Unfortunately, w

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Swiss Re: A Katrina-like hurricane could cause up to $200 billion in damage today

August 18, 2020

Swiss Re: A Katrina-like hurricane could cause up to $200 billion in damage today

Tweet A memorial cross for the victims of Hurricane Katrina stands in the water near the bank of the Mississippi River Gulf Outlet on August 22, 2019 in Shell Beach, Louisiana. Accordin

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Floods, Freezing, Other Extreme Weather Highlight Need for Planning and Insurance

March 4, 2021

Floods, Freezing, Other Extreme Weather Highlight Need for Planning and Insurance

Tweet Recent flooding in Kentucky “is going to be one that goes into the record books,” the state’s Emergency Management Director Michael Dossett said in a news conference this

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Legal Reforms Boost Florida Insurance Market; Premium Relief Will Require More Time

May 8, 2024

Legal Reforms Boost Florida Insurance Market; Premium Relief Will Require More Time

Tweet Legislative reforms put in place in 2022 and early 2023 to address legal system abuse and assignment-of-benefits claim fraud in Florida are beginning to help the state’s

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Miami-Dade, Fla., Sees Flood-Insurance Rate Cuts, Thanks to Resilience Investment

January 19, 2024

Miami-Dade, Fla., Sees Flood-Insurance Rate Cuts, Thanks to Resilience Investment

Tweet Miami-Dade County, Fla., has become the latest jurisdiction in the hurricane- and flood-prone state to benefit from participation in FEMA’s Community Rating System (CRS

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Lightning SparksMore Than $1 Billionin Homeowners ClaimsOver Five Years

June 21, 2022

Lightning SparksMore Than $1 Billionin Homeowners ClaimsOver Five Years

Tweet By Loretta Worters, Vice President, Media Relations, Triple-I  More than $1 billion in lightning-caused U.S. homeowners insurance claims were paid out in 2021 to 60,000-p

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House approves TRIA, NFIP extensions as part of $1.4 trillion spending package

December 18, 2019

House approves TRIA, NFIP extensions as part of $1.4 trillion spending package

Tweet On Tuesday, December 17, the House approved a package of bills that includes a seven-year reauthorization of the Terrorism Risk Insurance Act (TRIA) and funding for the National Flo

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Californians Warned About Mudslide Riskas Winter Bears Downon Wildfire Areas

January 27, 2021

Californians Warned About Mudslide Riskas Winter Bears Downon Wildfire Areas

Tweet California Insurance Commissioner Ricardo Lara is alerting citizens to review their insurance policies in order to protect themselves and their assets in anticipation of winter

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Homeowners Premiums Rise Faster Than Inflation; Expect This to Continue

December 30, 2021

Homeowners Premiums Rise Faster Than Inflation; Expect This to Continue

Tweet Homeowners insurance premium rates are rising faster than inflation, S&P Global Market Intelligence data shows, and Triple-I’s chief insurance officer says they’re like

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Florida Homeowners Premium Growth Slowsas Reforms Take Hold, Inflation Cools

June 26, 2024

Florida Homeowners Premium Growth Slowsas Reforms Take Hold, Inflation Cools

Tweet Homeowners insurance premium growth in Florida has slowed since the state implemented legal system abuse reforms in 2022, according to a Triple-I analysis. As shown in the c

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Removing Incentivesfor Development From High-Risk Areas Boosts Flood Resilience

October 14, 2024

Removing Incentivesfor Development From High-Risk Areas Boosts Flood Resilience

Tweet (Photo by Jonathan Sloane/Getty Images) By Lewis Nibbelin, Contributing Writer, Triple-I Withdrawing federal subsidies in climate-vulnerable areas can deter development a

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I.I.I. Media Tour: What You Need to Know and Do as Hurricane Season Peaks

August 10, 2020

I.I.I. Media Tour: What You Need to Know and Do as Hurricane Season Peaks

Tweet The Insurance Information Institute (Triple-I), along with Colorado State University’s atmospheric research scientist Dr. Phil Klotzbach, will be conducting a satellite media to

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Fraud, Litigation Push Florida Insurance Market to Brink of Collapse

June 23, 2022

Fraud, Litigation Push Florida Insurance Market to Brink of Collapse

Tweet With its abundance of unneeded new roofs on homes – and flashy lawyer billboards at every turn claiming massive settlements on claims – Florida’s insurance market is on t

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IBHS Ranks Building Codes as Above-Average Hurricane Season Approaches

June 7, 2021

IBHS Ranks Building Codes as Above-Average Hurricane Season Approaches

Tweet Building codes are critical to disaster mitigation, as well as to enabling families, communities, and businesses to bounce back from natural and man-made catastrophes.  The In

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Triple-I Brief Explains Rising Homeowners’ Insurance Premium Rates

February 3, 2022

Triple-I Brief Explains Rising Homeowners’ Insurance Premium Rates

Tweet Homeowners’ insurance premium rates have risen significantly since the pandemic and are likely to keep increasing. It’s important for consumers and policymakers to understa

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Cost of Lightning-Caused Claims Soared Due to 2020’s U.S. Wildfires

June 17, 2021

Cost of Lightning-Caused Claims Soared Due to 2020’s U.S. Wildfires

Tweet By Loretta Worters, Vice President, Media Relations, Triple-I For the fourth consecutive year, the number of lightning-caused U.S. homeowners insurance claims decreased in

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Lightning: Quantifying a Complex, Costly Perilto Support Resilience

June 19, 2023

Lightning: Quantifying a Complex, Costly Perilto Support Resilience

Tweet By Loretta L. Worters, Vice President, Media Relations, Triple-I Fire historically has been the main risk associated with the peril of lightning strikes. But as urban densit

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Insurer Declined to Renew your Homeowners Policy? You Have Options

September 16, 2021

Insurer Declined to Renew your Homeowners Policy? You Have Options

Tweet By Maria Sassian, Triple-I consultant In high-risk areas like the West Coast with its wildfires and Florida with its hurricanes and floods, insurance non-renewals are on the

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