Loss of use

Triple-I Offers Reminders on Insurance Claim Filings for Consumers Impacted by California Atmospheric River Damages

Retrieved on: 
Friday, February 9, 2024
Professional Services, Consumer, Women, Insurance, Seniors, Men, Insurance Information Institute, Policy, Use, Weather, ALE, Loss, Loss of use, BOP, CMP, Lightning, Wind, Rain, Tree, FEMA, NFIP

The Insurance Information Institute (Triple-I) is reminding homeowners, renters, businesses, and vehicle owners impacted by severe weather related to the West Coast Atmospheric River of what’s covered under standard insurance policies and how the insurance claim filing process works.

Key Points: 
  • The Insurance Information Institute (Triple-I) is reminding homeowners, renters, businesses, and vehicle owners impacted by severe weather related to the West Coast Atmospheric River of what’s covered under standard insurance policies and how the insurance claim filing process works.
  • Your insurance professional will report the loss immediately to your insurer or to a qualified adjuster.
  • Property damage caused by windstorms, hail, and lightning is covered under standard homeowners, renters, and business insurance policies.
  • It is a standard coverage in homeowners and renters insurance policies but ALE is not incorporated into FEMA NFIP policies.

New Report Shows Resilient Construction Offers Strong Return on Investment

Retrieved on: 
Wednesday, October 12, 2022
Loss of use, Insurance, Risk, A High Wind in Jamaica (novel), Silver, Insurance Institute of Canada, Insurance Information Institute, IBHS, Program, University, Gold, Lists of disasters, University of Alabama in Huntsville, Tornado, Tropical cyclone, Pacific typhoon season, Weather, Commercial property, Uranium, Risk management, Business, Research

TUSCALOOSA, Ala., Oct. 12, 2022 /PRNewswire/ -- The Alabama Center for Insurance Information and Research (ACIIR) at the University of Alabama's Culverhouse College of Business today released a report analyzing the return on investment for resilient construction of multifamily properties. The study, which measured the economic value of using FORTIFIED Multifamily™, a voluntary beyond-code construction and re-roofing method developed by the Insurance Institute for Business & Home Safety (IBHS), found the return can be as high as 72 percent.

Key Points: 
  • TUSCALOOSA, Ala., Oct. 12, 2022 /PRNewswire/ -- The Alabama Center for Insurance Information and Research (ACIIR) at the University of Alabama's Culverhouse College of Business today released a report analyzing the return on investment for resilient construction of multifamily properties.
  • "Our study found that resilient construction can provide an impressive return on investment, both in coastal and inland areas," says ACIIR Director and Senior Research Professional Dr. Lars Powell.
  • "Our research clearly demonstrates that a significant amount of storm damage can be avoided simply by investing in resilient construction, and this new study shows it's financially beneficial to do so."
  • "This study by the University of Alabama shows even before that happens, it literally pays to build resilient multifamily communities."