News
Florida OIR orders company with $2.2 million warranty premium to end unlicensed business
8+ hour, 52+ min ago (331+ words) Florida OIR orders company with $2.2 million warranty premium to end unlicensed business'Insurance Business Florida OIR orders company with $2.2 million warranty premium to end unlicensed business American Dreams Auto Protect had nearly 900 in-force contracts and more than $2.2 million in unearned written…...
California moves to set first smoke damage standards for wildfire claims
2+ day, 13+ hour ago (474+ words) California lawmakers are weighing legislation that would set the country's first formal standards for handling smoke damage to homes, a move that could reshape wildfire-related claims and remediation practices for property insurers in the state. According to a report from…...
Iowa court upholds insurer's two-year deadline, rejects independent agent policy request
5+ day, 8+ hour ago (191+ words) An Iowa appeals court has backed an insurer on strict contractual suit deadlines, ruling that policy requests to independent agents don't bind the insurance carrier. A recent Iowa appellate ruling offers a reminder to insurance professionals about the importance of…...
Porch sheds underwriting risk, keeps revenue as reciprocal model takes hold
5+ day, 11+ hour ago (531+ words) Porch Group posted a 27% gross loss ratio for 2025 in its homeowners' insurance reciprocal exchange, sharply outperforming an industry that averaged 65% in 2024 and deteriorated to nearly 79% in the first half of 2025 amid severe storms and California wildfires. The Seattle-based company reported…...
Oklahoma adopts 2025 Valuation Manual for life and health insurers
5+ day, 13+ hour ago (294+ words) Oklahoma adopts 2025 Valuation Manual for life and health insurers'Insurance Business Oklahoma adopts 2025 Valuation Manual for life and health insurers The notice is directed to all life and accident and health insurers and follows earlier guidance from the NAIC In a…...
MS Amlin erases wildfire hit in record time as combined ratio outpaces Lloyd’s
5+ day, 13+ hour ago (454+ words) MS Amlin reported an insurance service profit of "183 million (around $249 million)for the nine months ended September 2025, rebounding strongly from California wildfire losses that added 10 percentage points to its first-half combined ratio The Lloyd's syndicate's combined ratio improved to 86.1% for…...
Liberty Mutual Canada becomes first insurer to join Climate Smart Buildings Alliance
6+ day, 11+ hour 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, 2+ 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, 2+ 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…...