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We are the Insurance Information Institute. Since 1960, the "Triple I" has had a single mission: To improve public understanding of insurance—what it does and how it works. We are here to serve everybody: consumers; students and educational institutions; insurance professionals; government and regulatory organizations; and the media. Learn More
Insurance Industry Inflation watch - October 2017

According to the latest data from the Bureau of Labor Statistics, both current and expected near-term general inflation continue to be low by historical standards, but there are pockets of rising inflation. The CPI-U rose by 2.0 percent in October 2017 vs. October 2016, before seasonal adjustment. Core inflation rose 1.8 percent for the 12 months ending October 2017. 

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New and Trending

Auto Background on: Drunk driving

All states and the District of Columbia defined impairment as driving with a BAC (blood alcohol concentration) at or above 0.08 percent.  In March 2017 the governor of Utah signed a bill, effective December 30, 2018, that lowered the limit defining impaired driving for most drivers to 0.05 percent BAC, the lowest in the nation.

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Insight + Analysis

Insurance Industry Employment Trends: 1990-2017 (September 2017)

According to the U.S. Labor Department’s Bureau of Labor Statistics, for the 12 months ending September 2017, P/C carrier employment rose by 15,500 (+2.8 percent) to 572,800. Click here for updated multi-decade trend data in chart form.

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I.I.I. Glossary

UMBRELLA POLICY- Coverage for losses above the limit of an underlying policy or policies such as homeowners and auto insurance. While it applies to losses over the dollar amount in the underlying policies, terms of coverage are sometimes broader than those of underlying policies.

DEDUCTIBLE- The amount of loss paid by the policyholder. Either a specified dollar amount, a percentage of the claim amount, or a specified amount of time that must elapse before benefits are paid. The bigger the deductible, the lower the premium charged for the same coverage.

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Best wishes for a peaceful, safe, and happy #Thanksgiving from everyone at the Insurance Information Institute.

Something to think about for Small Business Saturday: Your #business is your dream—and cyber #insurance is continually evolving to protect #entrepreneurs from online fraud and other #cyberthreats. Find out more:

Renting a car this #Thanksgiving weekend? Here's what you need to know about #insurance coverage: https://bit.ly/2jbLUuU

A Small Business Saturday fact: The average cost of a #cybersecurity breach at a US-based #SMB is $35,967. Learn more about #cyberthreats and how to protect your business.

Flying away this #Thanksgiving holiday? Don't take off without checking into travel #insurance to cover unplanned trip disruptions. https://bit.ly/2zU8PWk

Small and midsize businesses are as (or even more) vulnerable to #cyberthreats. Cyber insurance policies typically cover costs arising from either a #cyberattack or a data breach, such as responding to lawsuits, repairing damaged infrastructure, and paying ‘ransom’ demanded by cyber extortionists, among other potential exposures, such as business interruption expenses. Our new white paper, “Protecting Against #Cyberfail: Small Business and Cyber Insurance,” details how insurers are working to create coverage products to serve SMBs against these threats. https://bit.ly/2Al1BHr

“How can I protect my small/midsize business from #cyberfail?” The latest I.I.I. white paper on #cyberinsurance has the answers. https://bit.ly/2Al1BHr #SMB

Here are 3 key steps you can take to simplify the #insurance claims process for #wildfire damage: https://bit.ly/2ms7tfS

Drive it like it's Ho-Ho-Hot? National Insurance Crime Bureau releases its annual Holiday Vehicle Theft report. The surprising results (and more) are here. https://bit.ly/2zHQyv6

Thought Leadership

I.I.I. News Wire

Insurers Increasingly Protect U.S. Businesses and Customers From Cyberattacks and Data Breaches

FOR IMMEDIATE RELEASE I.I.I. Press Office: (212) 346-5500; media@iii.org NEW YORK, October 30, 2017—More than half of U.S. Read More

The Road to Recovery: Three Important Steps California Wildfire Victims Need to Know to Get the Claims Process Started

FOR IMMEDIATE RELEASE New York Press Office: (212) 346-5500; media@iii.org California Press Office: (707) 490-9365; janetr@iii.org   SACRAMENTO, CALIFORNIA, October 17, 2017 — Insurance adjusters, catastrophe personnel and mobile claim centers have been deployed to staging areas in Norther… Read More

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Events Calendar

The Power of Food: José Andrés on Puerto Rico Relief Efforts
November
30
2017
Please join the Atlantic Council’s Adrienne Arsht Center for Resilience and the Adrienne Arsht Latin America Center on Thursday, November 30 from 2:00 – 3:00 pm at the Atlantic Council for a talk with José Andrés about #ChefsForPuertoRico and their work on the island.  Chef Andrés will share his first-hand insights on building community resilience in Puerto Rico, lessons learned for future disasters, and how organizations like World Central Kitchen can help strengthen communities throughout the Caribbean and Latin America.  Event website 
I.I.I. Market Report Webinar, “Protecting Small Business Against #cyberfail.”
December
11
2017
Join leading experts from CNA Insurance, Verisk, The Institutes and the Small Business Administration for the Insurance Information Institute’s Market Report Webinar: Protecting Small Business Against #cyberfail.    America’s 28 million small businesses have virtually the same exposure to hackers and other cyberthreats as America’s largest companies, but they might not realize it. While the billion-account hacks get all the attention, small businesses are far more likely to be crippled or put out of business in the wake of a cyberattack.    In the I.I.I. Market Report Webinar experts from the insurance, risk management and business communities will discuss the commercial cyber risk landscape and how small business leaders can effectively use insurance products, risk management best practices and other tactics to protect their firms. Event Website 
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