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News
European wildfires likely to increase insurance demand, Swiss Re says
3+ hour, 54+ min ago (134+ words) ZURICH, July 28 (Reuters) – The ongoing wildfires in France and Spain are likely to increase insurance demand, Swiss Re said on Tuesday. Wildfire losses are generally not covered by national insurance pools in southern Europe, meaning homeowners have to opt for…...
Sicily’s Cyclone Harry tests Italian mandatory insurance plan
5+ day, 9+ hour ago (929+ words) CATANIA, Italy, July 23 – A cyclone that wreaked more than €1 billion ($1.14 billion) in damage along Sicily’s coast has also exposed a flaw in Italy’s push to expand mandatory insurance against natural disasters. Businesses were insured, but not for the risks they…...
Oklahoma sues Allstate, says insurer underpays damages claims
2+ week, 6+ day ago (241+ words) July 7 (Reuters) – Allstate was sued on Tuesday by Oklahoma, which accused the insurer of underpaying or denying claims for damage from wind and hailstorms over several years. Oklahoma accused Allstate of having since at least 2020 “secretly” required restrictive standards in…...