Property and Casualty News

Now that state-owned Citizens Property and Casualty Insurance Corp. is seeking to reduce premiums in South Florida and other parts of the state, customers of private market insurers are likely wondering if their policies will get cheaper as well next year. Others are likely to follow, driven by the same market factors behind the Citizens reductions: fewer…

Calling rising wildfire insurance rates an“ urgent challenge,” a Headwaters Economics and Columbia Climate School report released this month points to potential approaches to address the financial burden on Montana property owners. Montana policy holders paid a little more than $4 billion in premiums in 2013, that number in 2022 was almost $7.4 billion,…

The Northbrook- based company had also made a regulatory filing in January to increase homeowners insurance rates in Illinois by 14.3%. "State Farm and Allstate have close to half of the market share in Illinois so it's already impacting hundreds of thousands of consumers in Illinois," Scarr said.Most mortgage loans require homeowners insurance and an…

2025 DEC 22– By a News Reporter-Staff News Editor at Insurance Daily News– New research on Environment- Environmental Compliance is the subject of a report. According to news reporting from Tuscaloosa, Alabama, by NewsRx journalists, research stated,“ This study examines the effect of a pollution liability insurance mandate on corporate environmental…

Can your auto insurance policy be canceled in the first 60 days? When a driver secures a new auto insurance policy, they expect immediate, reliable coverage. Cheap Insurance explains how this window is essential, as omissions, errors, or undisclosed risks related to the driver or vehicle can lead to policy cancellation, often without the extensive advance notice…

WEST ATLANTIC CITY, N.J., Dec. 22, 2025/ PRNewswire-HISPANIC PR WIRE/— The Great Bay Insurance Group, the leading provider of coastal homeowners’ insurance in New Jersey, today announced the following leadership changes. Brian S. Schleider., has been named as Executive Vice President and Chief Financial Officer of the Group and Sharon Karlsson-Simons has been…

Consumer advocates and Democrats warned at the time that the state could expect mass cancellations of policies, exacerbating a crisis that has already hammered Louisiana homeowners. Insurance executives and Republicans, meanwhile, argued the change was needed to bring Louisiana more in line with other states and to invite competition into the market.

A few months after State Farm shocked Illinoisans and angered Gov. Combine those two increases, and Allstate is nearing State Farm territory. Allstate "s two hikes also are more on a dollar basis than the State Farm increase because State Farm’ s rates were lower on average than Allstate’ s before these most recent rounds of price hikes.

In an accompanying petition for intervention filed in Oklahoma County District Court, Drummond asserts that while State Farm marketed its policies as providing full replacement-cost coverage, the company predetermined claim outcomes to meet corporate savings targets rather than honoring policy promises. Drummond is asking the court to award…

Sonoma County’ s median rate for home insurance premiums shot up more over the past decade than in any other part of the nine-county Bay Area, while Lake and Mendocino counties, where wildfires have exacted a wider if not deeper toll, have seen rates climb even faster and higher. The median cost in Marin County in 2024 was highest in the North Bay at $2,658 but the 10-…

Across the United States, climate change is driving more intense and frequent flooding, putting millions of homes and neighborhoods at growing risk. In our new study, "Effects of Risk-Based Pricing Reform on Flood Insurance Uptake," published in the Journal of Catastrophe Risk and Resilience, my coauthors Max Snyder, Carolyn Kousky, and I examine how the National…

State rules on auto insurance nonrenewal notice. When the mail arrives carrying a letter from a car insurance provider, the natural inclination is often to toss it into the "later" pile. In this article, Cheap Insurance explores the legal foundations protecting consumers and reveals the varying deadlines that insurers must abide by across the country.

The following information was released by the American Medical Association:. Researchers detail what happened in Illinois and Georgia after their state courts knocked down limits on noneconomic damages in med-mal cases. In what's believed to be a first-of-its-kind study, researchers discovered "large and persistent increases in malpractice insurance…

The following information was released by the National Association of Insurance Commissioners:. Last week, the National Association of Insurance Commissioners' 2025 Fall National Meeting showcased the collaboration and coordination at the heart of the U.S. state-based insurance regulatory system. On Dec. 10, the Task Force adopted the principles…

The following information was released by Pennsylvania House of Representatives, Republican Caucus:. The House has unanimously passed legislation authored by state Rep. Kerry Benninghoff that would make government more efficient for consumers who attempt to change auto insurance carriers.

PORT CLINTON— An Oak Harbor woman currently serving time in prison for stealing over half a million dollars while working at a local travel agency is challenging the amount that the Pittsburgh- based insurance company claims she still owes. On Oct. 8, the National Union Fire Insurance Co., of Pittsburgh, filed a lawsuit against Michelle Ireland, 55, of the 400 block…

AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of“ a-” of Bahamas First General Insurance Company Limited and Cayman First Insurance Company Limited, the property/casualty operating subsidiaries of Bahamas First Holdings Limited. The outlook of these Credit Ratings is stable. Like most Caribbean insurance…

As rising premiums and tightening coverage options continue to strain household budgets, millions of U.S. homeowners are grappling with the growing challenge of affording and maintaining adequate insurance protection. The U.S. homeowners segment is projected to post double-digit net written premium growth in 2025, with a return to overall…