20+ hour, 39+ min ago (333+ words) 24th November 2025 - Author: Saumya Jain - Farmers Insurance, the largest property casualty insurer headquartered in California, has decided to eliminate the cap on the number of homeowners insurance policies it offers in the state, including Farmers Smart Plan Home, Farmers Smart Plan Condominium, and Farmers Smart Plan Renters policies, effective immediately. This move is motivated by the firm's belief in an improved Californian homeowner insurance market, driven by the adoption of Insurance Commissioner Ricardo Lara's Sustainable Insurance Strategy. Farmers had continuously offered homeowners insurance to consumers in the state, which had been capped at 9,500 new policies per month. Additionally, Farmers has filed a new rating plan aligning with key elements of the Sustainable Insurance Strategy and is expected to add at least several thousand new policies in areas identified as distressed by the California Department of Insurance. To ensure a successful follow-through…...

1+ week, 1+ day ago (315+ words) 17th November 2025 - Author: Saumya Jain - As part of the strategic participation in the Citizens take-out program, Tampa-based property and casualty insurance holding company, American Integrity Insurance Group, has assumed 7,087 policies from Florida's insurer of last resort. This adds approximately $25.8 million of annualised written premium at an average premium of $3,640 to the firm's overall underwriting income. It marks another significant step in the carrier's disciplined, profitable expansion strategy and underscores its position as one of the most active private-market participants in Florida's improving insurance landscape. American Integrity said, "This November assumption continues a series of strategic depopulations over the past two years." Through its assumption of policies during 20242025, American Integrity has transitioned nearly 100,000 homeowners back into the private market, driven by Florida's legislative reforms. The state's reforms, particularly those enacted in 2022 and 2023, continue to reduce litigation, streamline claims activity, and stabilise the…...

1+ week, 4+ day ago (264+ words) 14th November 2025 - Author: Taylor Mixides - ShoreOne Insurance Managers, Inc., a provider of specialised insurance solutions for homeowners and agencies, has launched its residential homeowners policy in Rhode Island, now including comprehensive flood insurance coverage. The policy combines home and flood protection under a single plan, offering one deductible and a unified claims process. This product, already available in New Jersey, New York, South Carolina, and Massachusetts, aims to address a longstanding market gap where homeowners often require separate policies for property and flood insurance, which can lead to higher costs and limited coverage. Cameron Rhodes, President of ShoreOne, commented on the launch: "Agents across the state have been eager for ShoreOne's arrival, and we're thrilled to finally deliver this all-in-one protection to their clients." ShoreOne recently appointed Frank Berry as Regional Director for Massachusetts and Rhode Island. Rhodes noted: "Frank's deep…...

1+ week, 4+ day ago (451+ words) 13th November 2025 - Author: Kassandra Jimenez-Sanchez - UK-based flood science specialist JBA Risk Management has launched a high-resolution US inland flood model, as new data reveals that almost one in three US properties " 38.6 million buildings " are at risk of flood. JBA has launched this new model in response to rising demand from the reinsurance and risk management sectors for insight into increasing flood risk. The specialist's analysis also suggests the US government significantly underestimates the threat from flood, with over three quarters of properties at fluvial risk (78%) falling outside of the Federal Emergency Management Agency's (FEMA) official high-risk flood zones. This potentially undermines the effectiveness of the country's National Flood Insurance Program (NFIP), the firm stated. The US Inland Flood Model covers all 48 lower US states and is built on JBA's 5-metre resolution flood maps. This high-level detail, which is fully hydro-dynamically modelled…...

1+ week, 6+ day ago (414+ words) 12th November 2025 - Author: Kane Wells - Tampa-based property and casualty insurance holding company, American Integrity Insurance Group, has disclosed gross premiums written of $239.1 million in Q3 2025, an increase of 48.5% compared to the same quarter of 2024. Meanwhile, gross premiums earned in Q3 2025 rose 34.2% to $221.9 million from $165.4 million a year earlier, while net premiums earned increased 28.5% to $52 million from $40.5 million. According to the firm, these increases were driven primarily by new and renewal policies written through the voluntary market and from its strategic participation in the Citizens Property Insurance Corporation take-out program. American Integrity's losses and loss adjustment expenses for Q3 2025 increased 18.5% to $29.7 million compared to $25 million for the same quarter of 2024, reportedly driven primarily by higher gross premiums earned. The loss ratio was 54.1% for the third quarter of 2025, compared to 59% for the third quarter of 2024. However, the firm's combined ratio was 78.9% in Q3 2025, greatly improved compared to…...

2+ week, 4+ day ago (249+ words) 7th November 2025 - Author: Taylor Mixides - Global Insurance Law Connect (GILC), an international network of law firms specialising in insurance and reinsurance, has published its inaugural Property Catastrophe and Climate Governance Report, drawing on contributions from 23 member firms worldwide. The report examines the evolving landscape of natural catastrophe risks, the pressures facing property owners and insurers, and the innovative solutions required to reduce the growing protection gap. GILC's research underscores the increasing impact of climate change on both insured and uninsured losses and emphasises the importance of government schemes and insurance innovations in strengthening resilience. The analysis highlights how rising costs from catastrophic events, driven by more frequent and severe weather, urban expansion, and shifting land use'are creating significant strains on property insurance markets globally. Gillian Davidson, Chair of GILC, said: "Our new property catastrophe report captures the urgency of the protection…...