News
Liberty Mutual Canada becomes first insurer to join Climate Smart Buildings Alliance
11+ hour, 18+ min ago (457+ words) Liberty Mutual Canada has become the first insurer to join the Climate Smart Buildings Alliance (CSBA), adding an insurance perspective to a Canadian coalition focused on accelerating low-carbon and climate-resilient practices in the built environment. The move comes as insurers…...
Flash flooding: Why insurers are drilling down on this peril
5+ mon, 1+ week ago (771+ words) When torrential rains inundated Central Texas over the July 4 holiday, triggering what experts classified as a "1,000-year" rainfall event, the devastation was swift and staggering. The Guadalupe River surged to levels more than 30 feet above normal in hours, sweeping away…...
Flood risks rising fast: Aon Edge calls for smarter insurance as $500K limits fall short
5+ mon, 1+ week ago (646+ words) This article was created in partnership with Aon Edge." "Currently, flood risks in the US are something of a fractured environment," John Dickson, Aon Edge's president and CEO, told Insurance Business. "We have the National Flood Insurance Program (NFIP) that's…...
Travelers loses $27m battle over Maxus Metropolitan fire insurance claim
5+ mon, 2+ week ago (217+ words) A $27 million fire insurance fight between Maxus Metropolitan and Travelers Property Casualty has just given commercial insurers plenty to think about." The jury sided with Maxus, awarding $27,330,263.13 in damages, $546,905 for vexatious refusal to pay, and "reasonable attorneys" fees." The district…...
Insurers warn students face coverage gaps as tenant's insurance uptake remains low
5+ mon, 2+ week ago (215+ words) As students settle into a new academic year, insurers are raising concerns over the low number of young renters holding tenant's insurance." According to the Insurance Bureau of Canada (IBC), many students underestimate the financial risks of living away from…...
California judge orders open hearings, full disclosure in State Farm rate case
5+ mon, 2+ week ago (586+ words) A California administrative law judge has issued several rulings in State Farm's ongoing rate case, reinforcing transparency and consumer protections under Proposition 103. The decisions come as State Farm seeks a $1.19 billion rate increase for homeowners insurance, a move that has…...
Meadowview sues Federal Insurance over $16m condo water damage
5+ mon, 2+ week ago (533+ words) Meadowview Village Owners Association is suing Federal Insurance Company over a denied $16.3 million property claim for hidden water damage at a major condo complex. Meadowview sues Federal Insurance over $16m condo water damage Could this case reshape how insurers handle large…...
Viceroy Preferred Insurance approved as newest player in Florida
5+ mon, 2+ week ago (371+ words) Florida regulators have approved another entrant into the state's homeowners market, continuing a trend of new capital flowing into the sector following legislative reforms. The Office of Insurance Regulation cleared Viceroy Preferred Insurance'to launch as a new homeowners writer backed…...
Balancing oversight and opportunity in Canada's insurance sector
5+ mon, 2+ week ago (568+ words) Canada's insurance sector isn't struggling from weak fundamentals; it risks being choked by regulatory overload if current trends continue. That was the message from Celyeste Power (pictured), president and CEO of the Insurance Bureau of Canada, who warns that a…...
Maryland insurance regulator returns $42 million to policyholders in H1
5+ mon, 2+ week ago (286+ words) Maryland policyholders received more than $42 million in recoveries during the first half of 2025 through complaints, enforcement actions and fraud cases, according to a report from AM Best, citing the Maryland Insurance Administration (MIA)." The total already surpassed the $33.3 million recovered…...