3+ day, 9+ hour ago   (277+ words) California is the largest insurance market in the United States, with nearly 40 million residents and an economy that would rank among the world’s top five nations. When liability trends shift here, they affect national and global carrier portfolios immediately. The…...

5+ mon, 1+ week ago   (471+ words) It’s been more than two years since I wrote an analysis based on Surplus Line Association of California insight and data for an Insurance Journal article forecasting that the state’s homeowners insurance market was entering a structural transition driven primarily…...

1+ mon, 3+ week ago   (292+ words) After 20 years in homeowner claims, I’ve heard the same assumption so many times it’s practically folklore: older homes cost more to insure because repairs cost more. That’s not entirely wrong, but the real story is more specific — and more useful…...

4+ mon, 1+ week ago   (460+ words) it has assigned an executive to handle customer relations for California. The statement notes that State...

5+ mon, 4+ week ago   (526+ words) As another wildfire season looms, insurance companies have abandoned some California neighborhoods at lower risk of burning, forcing tens of thousands of homeowners to obtain bare-bones coverage from the state’s insurer of last resort. “What we’re seeing is that the…...

8+ mon, 13+ hour ago   (346+ words) Never before has the insurance industry faced such big losses tied to floods, severe thunderstorms and wildfires, according to a fresh study that links rising temperatures to increasingly dangerous weather patterns. Insured losses for so-called non-peak perils — also sometimes referred…...

2+ mon, 4+ week ago   (255+ words) Liberty Mutual Insurance and space intelligence firm ICEYE have partnered to launch a parametric wildfire insurance coverage that works with satellites. ICEYE said its satellites capture high-resolution imagery through smoke, at night, and in all weather conditions to generate uninterrupted…...

2+ mon, 6+ day ago   (269+ words) Oklahoma’s attorney general sued Allstate Corp., alleging the insurer schemed to minimize payouts to homeowners for wind and hailstorm damage in order to boost its profits. The state’s top lawyer, Gentner Drummond, alleges that Allstate implemented an internal program to…...

5+ mon, 3+ week ago   (399+ words) The Brookings Institution’s Hamilton Project has released a proposal for a federal reinsurance backstop called US Re to leverage federal borrowing capacity and stabilize the country’s homeowners insurance market. “Properly constructed, US Re could improve resilience while maintaining the benefits…...

3+ week, 5+ day ago   (191+ words) One of the nation’s largest mortgage servicers is paying millions of dollars to settle charges it imposed insurance costs on borrowers who already had homeowners insurance policies. Forty-eight state financial agencies reached a $15.5 million settlement with NewRez LLC for improperly…...