New Era of Risk

Not only are floods, wildfires, severe storms, hurricanes, and other natural catastrophes happening more often, more people are flocking to the areas where these extreme events occur. None of us can control the weather, but insurers can educate policyholders and policymakers about the ways disaster preparedness and stronger building codes can make us all safer in the future.

It is undeniable that everything we buy is more expensive. It also means that everything that is damaged is more expensive to fix and, therefore, more expensive to insure. NAMIC is working to ensure that people can choose where and how their property is repaired and that insurance carriers can provide fair pricing to the policyholders they promise to protect.

Frivolous lawsuits that lead to astronomical judgments are running rampant in the American court system. When plaintiffs, their attorneys, and even third parties, look at these inflated judgments as ways to make money or “punish” insurance companies, they are actually punishing other policyholders. NAMIC is fighting to ensure that injured parties are made whole without making insurance protection more expensive for others.

The insurance industry is already one of the most heavily regulated industries in the country. Lately, though, governmental and regulatory bodies – some that aren’t even insurance-related – have been attempting to impose even more regulation that will likely increase the cost of insurance to those they are trying to protect. NAMIC advocates are working to ensure that these bodies work with the industry, rather than against it, to protect and serve consumers.