American businesses and consumers rely on the availability of insurance services provided at competitive rates. The Coalition for Competitive Insurance Rates is made up of business organizations, consumer advocacy groups, insurers and their associations advocating for continued and increased competition within the insurance industry.





 

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International insurance companies are expected to pay nearly 50 percent of the losses incurred from Hurricane Sandy in currently estimated at $9 billion but potentially reaching $12 billion. An estimated that 85 percent of privately insured crop losses resulting from the 2012 draught (approximately $1.2 billion) will be paid by international reinsurers. In the aftermath of the 2001 terrorist attacks on New York, international insurance and reinsurance firms paid 64 percent of the estimated $27 billion in US payouts for the claims.