News
California insurance risk skyrockets past Florida and Texas
16+ hour, 52+ min ago (221+ words) By Thomas Frank | 01/14/2026 06:30 AM EST The state insurer of last resort now has more than $700 billion in potential claims liability. An aerial view of houses being rebuilt in an area torched by the Palisades Fire in Los Angeles. Jae C. Hong…...
State Farm: Illinois tried to block other states from company data
3+ week, 1+ day ago (179+ words) By Saqib Rahim | 12/23/2025 06:15 AM EST The insurer, fighting to protect internal records, said the Illinois insurance regulator made "improper efforts" to push aside other state regulators. Illinois Insurance Director Ann Gillespie, shown in 2021 when she was in the Illinois Legislature,…...
Homeowners drop flood insurance as FEMA rates rise
4+ week, 2+ day ago (198+ words) By Thomas Frank | 12/16/2025 06:28 AM EST Withdrawals are increasing as the government hikes its premiums to in part compensate for damage associated with climate change. A neighborhood in Burlington, Washington, is flooded Friday. Stephen Brashear/AP Nearly a quarter-million households have…...
Weak hurricane season strengthens property insurers
1+ mon, 6+ day ago (165+ words) By Saqib Rahim | 12/08/2025 06:09 AM EST Premiums could drop in 2026, experts say, after years of increases caused by highly damaging storms and wildfires worldwide. Beachgoers enjoy good weather on the New Jersey shore. Hurricanes were minimal this year in the U.S., driving…...
New Hawaii property insurance program helps stabilize prices
1+ mon, 1+ week ago (186+ words) By Saqib Rahim | 12/02/2025 06:21 AM EST A state-chartered insurer has started a price war with private insurers that have been raising premiums for owners of condo buildings. Hawaii Gov. Josh Green (D) helped create a state-chartered property insurance program that officials say…...
Insurers earn record sums in disaster-free third quarter
1+ mon, 3+ week ago (183+ words) By Saqib Rahim | 11/21/2025 06:22 AM EST "Good fortune" with a lack of catastrophes helps seven major insurers earn more than $1 billion in underwriting, new analysis finds. Since the Los Angeles wildfires in January, insurers have benefited from no major disasters. A…...
An arcane type of property insurer is surging on the Gulf Coast
1+ mon, 3+ week ago (1154+ words) By Saqib Rahim | 11/21/2025 06:22 AM EST Policyholder-owned insurance exchanges are filling voids left by traditional insurers. But some are low on cash to pay excessive claims. Louisiana Insurance Commissioner Tim Temple, shown in 2019, said that policyholder-owned insurance "exchanges" may lack the…...
Insurance industry helps block Illinois premium controls
2+ mon, 1+ week ago (170+ words) By Saqib Rahim | 11/03/2025 06:09 AM EST The Illinois Legislature defeated a proposal aimed a minimizing property insurance premiums by strengthening state oversight of rates. Illinois Gov. JB Pritzker urged the state Legislature to strengthen insurance regulation. The Legislature defeated a bill…...
Why did State Farm hike rates in a state with no huge disasters?
2+ mon, 4+ week ago (152+ words) By Saqib Rahim | 10/17/2025 06:14 AM EDT The insurer blames inflation and intense storms. Illinois officials say the company exploited lax regulations to raise prices 27 percent. A sharp rate hike by Illinois" largest property insurer has drawn outrage from the state"s…...
Five insurers test California’s new fire insurance rules
3+ mon, 2+ week ago (215+ words) By Camille von Kaenel | 09/29/2025 06:16 AM EDT Gov. Gavin Newsom highlighted the filings during New York City's Climate Week. Five property insurers have requested rate increases so far under new California rules meant to entice companies back to the state. Jae…...