Property and Casualty News

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.

Insurity, a leading provider of cloud-based software and analytics for property and casualty MGAs, syndicates, and brokers, will host its London International Conference on 25 March 2026, bringing together insurance and technology leaders from across the London market to examine the trends, technologies, and market dynamics shaping the future of insurance.

The cost of gas isn’ t helping, either; it’ s gone up at least 50 cents a gallon since President Trump’ s war on Iran. But in cost-burdened South Florida, we’ ll take it. As of 2022, Floridians were paying the highest car insurance rates in the nation, according to a 2025 report by the nonprofit Florida Policy Project.

Neptune Flood today announced the launch of its digital flood insurance app in ChatGPT. The new app enables property owners to receive real-time preliminary Neptune flood insurance quotes directly within ChatGPT. “Flood insurance should be easy to understand and easy to buy,” said Trevor Burgess, Chairman and CEO of Neptune Flood.“ Our app in ChatGPT allows us to…

SALEM— Opposition from the insurance industry doomed a bill intended to reward Oregon with more affordable insurance rates if they take wildfire mitigation steps. Jeff Golden, D- Ashland, said he was disappointed the bill ended up dying in committee, as lawmakers in Oregon modeled the proposal on legislation on which the insurance industry was neutral in…

Hundreds of tankers and container ships are idling in the Arabian Sea and the Gulf of Oman because they are unwilling to pass through the Strait of Hormuz without naval escorts or insurance coverage. Dozens of other merchant vessels also remain trapped in ports inside the Persian Gulf because they can’ t get out of the“ kill zone” of the strait after Iran announced…

The following information was released by the Insurance Information Institute:. 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…

The following information was released by the Michigan House of Representatives, the Republicans:. Address: 57900 Van Dyke Ave, Washington Township. Over the past several months, I have heard from many residents who are concerned about what a hyperscale data center could mean for Washington Township, including the potential impacts on electricity demand,…

Michael Watson has joined the Board as Executive Chairman, Mark Flaherty joins as an Independent Director, and existing board member Bart Hedges has been named Lead Independent Director. “These appointments reflect where Openly is today and where we’ re headed,” said Ty Harris, CEO and Co-Founder of Openly.“ Michael, Mark, and Bart are exactly the kind of experienced,…