The COVID-19 pandemic has changed a lot about the way we live and work. To further complicate things, weather forecasters are predicting an above average hurricane season in the Atlantic. So, while it’s tempting not to think about it – we want to make sure consumers and insurance companies are prepared. Commissioner Vicki Schmidt of the Kansas Department of Insurance and chairperson of the NAIC Property and Casualty Committee talks with Mike Consedine, NAIC CEO about how the NAIC and the states are helping consumers prepare while maintaining social distancing throughout the process.
If a Disability Were to Keep You From Earning a Living, How Would You Pay Your Bills?
Many people may not realize their most valuable asset is their ability to work. But if illness or injury left you disabled and kept you from earning a living, how would you pay your bills? According to the U.S. Social Security Administration, more than one in four of today's 20-year-olds will become disabled before reaching retirement age.
Pandemic Business Interruption Insurance Coverage: Insights from WSB Survey of Insurance Experts
WASHINGTON (May 17, 2020) - NAIC’s independent research division, the Center for Insurance Policy and Research (CIPR) partnered with the Wisconsin School of Business (WSB) Insurance Experts Panel to find out the extent to which insurance experts agree or disagree with recent major public policy issues related to business interruption (BI) coverage. More than 50 insurance experts on the WSB Insurance Experts Panel provided their insights. This independent research does not necessarily reflect the opinions of the NAIC or its Commissioners.
NAIC President Shares Disaster Preparedness Advice Ahead of Hurricane Season
WASHINGTON (May 15, 2020) - NAIC President and Director of the South Carolina Department of Insurance, Ray Farmer, did almost 30 television interviews this month to share disaster preparation advice with consumers. He also talked about the significance of flood insurance ahead of severe weather.
Do You Need Comprehensive Health Coverage During the Pandemic? You Have Options
Since the COVID-19 pandemic began, a record-breaking number of people lost their jobs. Many are worried about their health insurance plans. Others want to sign up for health insurance, but they are not sure if it is worth the expense. If you are uninsured, there are several options and ways you might qualify for help with insurance coverage costs.
WASHINGTON (May 11, 2020) − The NAIC encourages everyone to prepare for this year’s hurricane season which starts June 1, 2020 in the Atlantic Ocean region.
Few Americans plan how they would get out of town if they’re ordered to evacuate due to a natural disaster. Every year, thousands of people stay behind as hurricanes approach and the floodwaters rise, either unaware of or unwilling to believe they face danger.
An Ounce of Prevention Could Save Billions: Reduce your flood risks
WASHINGTON (April 29, 2020) -- In the last 10 years, flooding cost the U.S. $40.3 billion in damages. This does not include the damage associated with tropical cyclones, which represented an additional $431.3 billion, according to the National Oceanic and Atmospheric Association NOAA).
NAIC President and South Carolina Department of Insurance Director, Ray Farmer, is encouraging national residents to reduce their flood risk by leveraging flood loss avoidance
Special Event Insurance: Hunting for an event space? Before you say 'Yes' learn about your insurance options
You're in the throes of wedding planning, trying to find the right event space for your special day. Or, maybe you're looking to host that milestone birthday at the perfect venue. Before you sign on the dotted line, know your options if you need to cancel.
With many Americans cancelling or postponing their events due to the COVID-19 global pandemic, understanding your coverage is important.