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Date: April 24, 2024 Wed
Time: 7:13 pm
Time: 7:13 pm
Results for insurance
3 results foundAuthor: Hartwig, Robert P. Title: Terrorism Risk: A Reemergent Threat: Impacts for Property/Casualty Insurers Summary: The cost of terrorism still looms large in United States history. After nine attack-free years, the $32.5 billion in losses paid out by insurers for the terrorist attack of September 11, 2001, places second in an Insurance Information Institute (I.I.I.) ranking of the most costly U.S. catastrophes – after just Hurricane Katrina (2005). Nearly 10 years on, 9/11 also remains the worst terrorist act in terms of fatalities and insured property losses. With a new decade underway, a number of converging factors point to the fact that terrorism is a reemerging threat. Failure to focus on and prepare for this threat will come at an enormous cost to the millions of individuals and businesses who rely on insurance contracts to offset the overall economic impact of a terrorist attack. For property/casualty insurers, the increasing share of losses that they would have to fund in the event of a major terrorist attack on U.S. soil suggests that now is the time to take stock of their terrorism exposures. Details: New York: Insurance Information Institute, 2011. Source: Internet Resource: Accessed April 26, 2011 at: http://insurancemarketreport.com/Portals/131/TerrorismThreat_042010.pdf Year: 2011 Country: United States URL: http://insurancemarketreport.com/Portals/131/TerrorismThreat_042010.pdf Shelf Number: 121498 Keywords: InsuranceTerrorism |
Author: Dionne, Georges Title: Does Opportunistic Fraud in Automobile Theft Insurance Fluctuate with the Business Cycle? Summary: The report analyzes the empirical relationship between opportunistic fraud and business cycle. The authors find that residual opportunisitc fraud exists both in the contract with replacement cost endorsement and the contract with no-deductible endorsement in the Taiwan automobile theft insurance market. These results are consistent with previous literature on the relationship between fraud activity and insurance contracting. The authors also show that the severity of opportunistic fraud fluctuates in the opposite direction to the business cycle. Opportunistic fraud is stimulated during periods of recession and mitigated during periods of expansion. Details: Montreal, Canada: CIRRELT, 2011. Source: Internet Resource: CIRRELT-2011-49, Accessed on December 6, 2011 at: https://www.cirrelt.ca/DocumentsTravail/CIRRELT-2011-49.pdf Year: 2011 Country: Canada URL: https://www.cirrelt.ca/DocumentsTravail/CIRRELT-2011-49.pdf Shelf Number: 123495 Keywords: Automobile TheftCanadaFraudInsuranceTaiwan |
Author: Kudla, Joe Title: Metal Theft Claims and Questionable Claims from January 1, 2009 to December 31, 2011 Summary: There were a total of 25,083 claims identified for the theft of copper, bronze, brass, or aluminum submitted to ISO ClaimSearch between January 1, 2009 and December 31, 2011. Of the 25,083 total claims, 96.1% pertained to the theft of copper. Fifty-five percent of the claims were on commercial policies, while 45% were on personal policies. When the number of metal theft claims per month and monthly average copper prices are compared, the number of claims filed is found to have a statistically significant correlation with the price of copper. From January 1, 2009 to December 31, 2011, there were 237 NICB Questionable Claims submitted involving the theft of copper, aluminum, brass, or bronze. Of the 237 total Questionable Claims, 94.5% pertained to the theft of copper. Sixty-six percent were on personal policies, while 31% were on commercial policies. Ohio was the loss state in the most metal theft claims in ISO ClaimSearch, with 19% more claims than Texas, the state with the 2nd largest number of claims. However, in Questionable Claims Ohio ranked 4th, while Illinois topped the rankings. Illinois had 62% more QCs than Texas, the 2nd ranked state in Questionable Claims. When ranked by number of ISO ClaimSearch metal theft claims per 10,000 residents, Rhode Island tops the rankings, followed by Ohio and Delaware. Rhode Island had 25% more metal theft claims per 10,000 residents than Ohio did. The number of claims per 10,000 residents by state was found to be correlated with estimated state drug abuse/dependence rates. The Chicago-Naperville-Joliet, IL-IN-WI Core Based Statistical Area (CBSA) had both the largest number of ISO ClaimSearch metal theft claims and NICB Questionable Claims. The New York-Northern New Jersey- Long Island, NY-NJ-PA CBSA ranked 2nd in ISO ClaimSearch metal theft claims, while Atlanta-Sandy Springs-Marietta, GA ranked 2nd in NICB Questionable Claims. Details: National Insurance Crime Bureau (NICB), 2012. 11p. Source: Data Analytics ForeCAST Report: Internet Resource: Accessed April 28, 2012 at https://www.nicb.org/File%20Library/Public%20Affairs/Metal-Theft-Claims.pdf Year: 2012 Country: United States URL: https://www.nicb.org/File%20Library/Public%20Affairs/Metal-Theft-Claims.pdf Shelf Number: 125086 Keywords: Copper TheftInsuranceMetal Theft |