Coalition for Competitive Insurance Rates
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.

The Facts

In 2016, Hurricane Matthew tragically claimed four lives in South Carolina and was the state’s deadliest hurricane in more than a decade. Loss estimates from that storm total $2.3 billion with international-based reinsurers expected to cover nearly half.

In the aftermath of the 2001 terrorist attacks on New York, international insurance and reinsurance firms paid 64 percent of the estimated $17 billion in US payouts for the claims.

International insurers and reinsurers paid 48 percent of Hurricane Sandy losses in 2012 – close to $20 billion.

An estimated 85 percent of privately insured crop losses resulting from the 2012 drought (approximately $1.2 billion) were paid by international reinsurers.

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