Dollars & Sense

25%

The percentage increase in premiums for vacation and rental homes in the National Flood Insurance Program, effective Jan. 1. Properties that have suffered repeated losses or substantial damage over the years will also see a gradual 25 percent rate increase, beginning Oct. 1.

12

The number of individual endorsements revised by ISO’s 2013 CGL filing in 2013. ISO made mass changes to 24 additional insured endorsements and 34 professional service endorsements. Additionally, six new CGL endorsements are introduced in this filing.

$16 Billion

The record amount that farmers will be paid in crop insurance claims for 2012 because of the widespread drought. It is the second year in a row that U.S. farmers have received record crop insurance payments as flooding and drought in 2011 was followed by an even worse drought last year. Last year’s loss represents at least a 47 percent increase from the $10.8 billion record loss in 2011.

134 Million

The number of people expected to live on the U.S. coast if the current population trends continue. The already crowded U.S. coast will see population grow from 123 million people to nearly 134 million people by 2020, putting more of the population at increased risk from extreme coastal storms like Sandy and Isaac, which severely damaged infrastructure and property last year, according to a report done by researchers at the National Oceanic and Atmospheric Administration (NOAA), with input from the Census Bureau.

24%

The percentage of wedding claims reported by Travelers related to vendor problems. Claim data found that vendor problems resulted in the most frequent causes of wedding day mishaps. Illness and injury accounted for 19 percent of the total wedding claims, with 15 percent attributed to venue issues. Wedding day mishaps associated with weather accounted for 14 percent of claims.