Even if states dont mandate it, most businesses end up getting liability insurance of some form, said Bob Hartwig, president and economist at the Insurance Information Institute, an industry nonprofit group. Liability coverage is among the most fundamental rules of risk management, he said.
Insurers declined to speculate on how much damage theyre expecting to cover due to Sandy, but Bob Hartwig, president of the Insurance Information Institute, said storm damages could compare to that of Hurricane Irene. Of the $15 billion in losses incurred during Irene, about $4.3 billion was privat
Date: Oct 30, 2012
Source: Google
Storm Surge Damage May Not Be Covered by Some Insurance
cane Katrina over whether damage was caused by flooding or wind. If it was wind, destruction was covered by standard policies. Bob Hartwig, president of the trade group Insurance Information Institute, says, that issue has been settled. There is no question that a storm surge is a form of flooding.
Date: Oct 30, 2012
Category: Business
Source: Google
Insurers' funny ads aren't paying off, so expect changes
jawboning may make little difference in the long run. While consumers may be shopping around more, Bob Hartwig, president of the Insurance Information Institute trade group, says only about one in 10 drivers actually switch policies, a level that's been consistent for a decade even with the big ad push. T
Date: Jul 25, 2012
Category: Business
Source: Google
Hurricane Irene update: Tallying up the cost of a major storm
"We're looking at a multibillion-dollar event; that's almost certain," Bob Hartwig, president of the trade association Insurance Information Institute, told NPR. "We're not looking at a hurricane that is as strong as a Katrina or a Hurricane Ike, but we are looking at a storm that will move over an