It goes without saying that individuals and associations alike need to be properly covered by insurance; that’s just common sense. But the wide variety of choices can make obtaining that coverage a daunting process. To help boards and HOAs navigate these options with minimal hassle, the New York-based Insurance Information Institute (I.I.I.) has become a one-stop-shopping resource for information on all manner of insurance needs.

Purpose & History

With property and casualty premiums totaling a trillion dollars in 2012, plus an additional $643 billion more in life insurance premiums, insurance is a huge business with scores of companies offering competing services. I.I.I. exists to simplify, clarify and aid premium payers.

According to Michael Barry, vice president of media relations, “I.I.I. is an insurance trade association that is funded by property casualty insurance. We specialize in homeowners, automobiles, and business insurance, as well as life insurance and annuities. We’re here to communicate with the public on important issues related to insurance.”

The Institute’s main office in Manhattan was founded over 50 years ago, and it exists to provide aggregated information without bias. Throughout the group’s history, they have earned a reputation for fair reporting and accurate information, making them experts in the eyes of both state and federal governments, in addition to industry regulators and the public.

Barry says the I.I.I. maintains this reputation is by not allowing the operation to become a political lobbying concern, focusing instead on presenting facts as straightforwardly as possible.

As a result of this credibility, I.I.I. has nearly 90 member insurance organizations, and provides media services for many of them. Each year, the I.I.I. works on more than 3,700 news stories on insurance and handles more than 6,000 requests for information. Major insurance companies, including Allstate, State Farm Insurance, Nationwide, Allstate, Travelers and USAA Worldwide, are among its industry members.

Leadership & Outreach

Guiding the I.I.I. is Dr. Robert P. Hartwig, CPCU, who assumed the post in 2006. He joined the organization in 1998 as an economist and became the group’s chief economist a decade later. Since taking on the presidency, Dr. Hartwig has focused his work on improving understanding of key insurance issues across all industry stakeholders including media, consumers, insurers, producers, regulators, legislators and investors.

In support of these goals, the I.I.I. conducts programs, issues reports, provides statistics, and boils down complicated industry jargon into plain language for consumers, reporters, and others in the industry. By their own count, the I.I.I. receives over 50,000 questions from the public annually. It has numerous books and pamphlets available for the public and for companies, including 12 Ways to Lower Your Homeowners Insurance Costs and Settling Insurance Claims After a Disaster.

It maintains a National Insurance Consumer Helpline (800-942-4242), a telephone service designed to aid consumers with insurance needs, and I.I.I. is also accessible through various social media, like Twitter, Facebook, Google+, LinkedIn, YouTube and Flickr.

The I.I.I. over the years has responded to the ferocious storm seasons with numerous news releases focusing on hurricane-related insurance issues and seminars designed to inform consumers in high-risk storm areas on the East Coast about preparing for storm season, making use of new media and communications in emergency action plans, and minimizing homeowners’ exposure to storm-related damage.

I.I.I. Online

Visitors to the I.I.I. website can check out an exhaustive collection of data, resources and links—most of which are offered in both English and Spanish. For example, a new business can find a page asking basic questions starting with finding the right insurance agent, exactly what is covered with business owner policies, how to file claims, the need for workers compensation insurance and much more. The advice is practical and in clear, concise language. A separate glossary section helps decipher some of the terms that can bring a policy owner to tears.

One of the most useful tools on the site is a directory of companies in specific fields, making the search for qualified insurance agents an easier one. Homeowners and insurers alike can access articles and papers written about current issues that they would not necessarily have access to any place else—things like how your credit score impacts your insurance premiums, what types of dogs are considered most high-risk for biting, and more.

The I.I.I. also offers free downloadable software from its auxiliary site, www.knowyourstuff.org, that allows homeowners and renters to take inventory of their belongings. The website is also available as a mobile iPhone or Android app. Users can take digital photos of their insurable items and scan receipts for their records, which can speed the claims process and also insure that they get a really fair settlement.

In Real Time

Beyond the web, I.I.I. offers numerous books and pamphlets for consumers and businesses. The topics range from wood stove safety to fire safety tips for high-rise condo owners.

“We’ve also been very active in the neighborhood housing service,” Barry continues. “We have a nationwide network of organizations [in the directory] that try to help people who need affordable housing, and help them buy insurance and understand what they need to make their homes more insurable.”

As the legal system redefines liability issues or state laws change insurance requirements, I.I.I. will remain vigilant in their pursuit of timely information, taking some of the complexity out of a necessary part of life.     

Robert Greenberger is a freelance writer living in Connecticut. New England Condominium Executive Editor Debra A. Estock contributed to this article.