It Figures

September 6, 2010

$412 Million

Dog bite claims cost the insurance industry $412 million in 2009, an increase of 6.4 percent from 2008. Dog bites account for more than one-third of all homeowners insurance liability claims paid out in 2009, according to the Insurance Information Institute (I.I.I.). The I.I.I. found that the average cost of dog bite claims was $24,840 in 2009, up slightly from $24,461 in 2008. Since 2003, the cost of these claims has risen nearly 30 percent. Additionally, the number of claims increased by 4.8 percent to 16,586 in 2009 from 15,823 in 2008. With more than 50 percent of bites occurring on the dog owner’s property, the issue is a major source of concern for insurers.

20

Survivors of a deadly tornado that roared across the northern Illinois village of Plainfield marked the storm’s 20th anniversary. About 200 people gathered Aug. 28 for a ceremony that was held near downtown Plainfield on a spot that was in the storm’s path. The Aug. 28, 1990, tornado killed 29 people and injured more than 300. The tornado damaged or destroyed more than 1,000 buildings and caused about $200 million in damage. The Will County communities of Crest Hill and Joliet also were affected. AP

10,000

As of late August, federal officials had received nearly 10,000 applications for disaster assistance from seven Illinois counties hit by flooding in July. The Federal Emergency Management Agency is urging residents and business owners to apply for aid if they sustained damage or losses. The counties of Carroll, Cook, DuPage, Jo Daviess, Ogle, Stephenson and Winnebago were hit by major flooding from July 22 through July 24. A federal disaster declaration means the counties are eligible to receive federal funds to help residents and municipalities to recover. Gov. Pat Quinn declared 12 counties state disaster areas on July 26, making the areas eligible for state assistance. AP

Topics Claims

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Insurance Journal Magazine September 6, 2010
September 6, 2010
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