Property and Casualty News

MILTON, Fla.— More Milton residents are eligible to take advantage of the flood insurance discount, according to City of Milton officials. The discount now applies to policyholders inside and outside the Special Flood Hazard Area, meaning more Milton residents can benefit. strengthen our community's flood preparedness while also saving Milton residents…

SWBC is proud to announce that Joan Cleveland, President and CEO of SWBC Life Insurance Company and Executive Vice President of SWBC Property and Casualty Insurance Company, has been appointed by the Texas Commissioner of Insurance to the Texas Life and Health Insurance Guaranty Association Board of Directors. Joan Cleveland, President and CEO of SWBC Life…

In January 2023, Fatima V. Valenzuela of Reading filed an auto insurance claim alleging her husband’ s flatbed tow truck had been rear-ended by an SUV three months earlier on Route 222 near Kutztown. But an investigation by Three Insurance Co. revealed an identical claim involving the same vehicles and crash details had been filed just two months earlier with…

Hartford is home to the state government, some of the state's largest private sector employers and an abundance of cultural attractions. Members of the Vision Committee, a group formed last year that includes the CEOs of property and casualty insurer The Hartford and the Hartford HealthCare system, as well as the mayor of Hartford, held a press conference…

By T.L. Meyer, Livestock Systems Extension Educator. Recent wildfires in Nebraska have left many cattle operations facing urgent management decisions. Once humans are safe, producers should focus on three priorities: stabilizing livestock through health checks and access to clean water and feed, documenting losses and engaging with insurers and/or…

After years of struggling to bring down rates of homeowners’ insurance, Louisiana lawmakers have coalesced around one program that has proven to lower premiums: Building stronger roofs. Housing advocates have also called for a bigger state investment in the program, in hopes that fortifying a large swath of south Louisiana will bring widespread relief.

After years of struggling to bring down rates of homeowners' insurance, Louisiana lawmakers have coalesced around one program that has proven to lower premiums: Building stronger roofs. Insurance Commissioner Tim Temple said in an interview that his office has exhausted the $25 million allocated to the program over the last year, and he's asking lawmakers to…

Members of the Vision Committee, a group formed last year that includes the CEOs of property-and-casualty insurer The Hartford and the Hartford HealthCare system, as well as the mayor of Hartford, held a press conference Thursday to outline their goals for the city's revitalization. "We want to use our energies and resources to accelerate redevelopment,…

MEDFORD, Mass.& ASHBURN, Va.—- Agero, Inc., the leading white-label provider of digital driver assistance services and software for major automotive and auto insurance brands, today announced that it has entered into an agreement to acquire Urgent.ly, Inc., a U.S.- based technology focused provider of roadside and mobility assistance with innovative, tailored…

The following information was released by the office of the Governor of New York:. I've said it before, New York State pays some of the highest car insurance rates in America averaging $4,000 a year, about $1,500 more than the national average. " Earlier today, Governor Kathy Hochul and the Metropolitan Transportation Authority today announced a new MTA analysis…

The following information was released by the office of the Governor of New York:. Governor Kathy Hochul and the Metropolitan Transportation Authority today announced a new MTA analysis showing that the Governor's proposal to lower the cost of auto insurance would deliver $48 million in annual recurring savings for the authority. "New York's broken…

Pendleton Mayor McKennon McDonald said a bill that Rep. The Republican congressman from Ontario, who represents most of Oregon east of the Cascades, introduced the bill on March 9 to block what he calls an“ unnecessary and unconstitutional” requirement that the federal flood insurance program comply with Endangered Species Act protections for salmon and…

AM Best has affirmed the Financial Strength Rating of B++, the Long-Term Issuer Credit Rating of“ bbb” and the Mexico National Scale Rating of“ aa.MX” of Fianzas Avanza S.A de C.V.. The outlook of these Credit Ratings is stable. The company is Mexico- domiciled and began operations in 2017, initially underwriting fidelity insurance.

In an opinion filed March 3, U.S. District Judge Jeremy Daniel said a group of Allstate auto insurance customers accused the carrier of cooperating with AllCorp, which owns three Arity subsidiaries, in using a software development kit that tracked customers’ movements and phone usage. The lawsuit was first filed in Chicago federal court, but was quickly…

But State Farm, which commands about 10% of California's property insurance market, will have to partially refund premiums it charged rental dwelling and condo insurance customers under a previously approved interim rate increase. State Farm had requested a 38% increase for rental dwelling policies and 15% for condominium policies, according to an…

Members of the Vision Committee, a group formed last year that includes the CEOs of property-and-casualty insurer The Hartford and the Hartford HealthCare system, as well as the mayor of Hartford, held a press conference Thursday to outline their goals for the city's revitalization. "We want to use our energies and resources to accelerate redevelopment,…

AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of“ aa-” of Chubb Seguros de Vida Chile, S.A.. Chubb Vida Chile’ s sister company, Chubb Seguros Chile, S.A., focuses on property/casualty businesses. The company’ s operations grew in terms of premium volume, business lines and market share after its strategic alliance with…

Failing to notify insurers can result in denied claims, reduced liability coverage, higher deductibles, or even policy cancellation, according to a new Insurance Information Institute Outlook, Short-Term Rentals and Homeowners Insurance.. “It’ s important for homeowners to understand the potential for coverage gaps to arise when residential dwellings are…

Louisiana's nearly 50- year-old medical malpractice law could again be up for debate in this year's legislative session. At the center of both bills is Louisiana's $500,000 cap on damages for mistakes made by physicians or hospitals when treating patients. Physician groups are warning that altering the system could trigger sharp increases in insurance…

For example, 74% of those who filed insurance claims after the Marshall Fire— a costly wildfire that swept through the Boulder, Colorado, suburbs in December 2021— didn't have enough homeowners insurance to fully replace their home. Researchers at the University of Colorado found these homeowners were underinsured by an average of $139,000.