Property and Casualty News

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,…

New offering provides audit-ready SOC 2 foundation and up to $100,000 in cyber liability insurance credit with qualifying compliance purchase. In addition to the controls library, Koop is introducing Universal Cyber Protection, a cyber liability insurance credit of up to $100,000 that can be applied toward qualifying Koop compliance subscriptions.

Now, a proposed settlement means some State Farm policyholders whose premiums rose won't see additional increases, and others should even get refunds. State Farm, the largest insurer in the state with about 20% market share, received approval for https://calmatters.org/economy/2025/05/state-farm-rate-hikes-decision "> unprecedented emergency…

2026 MAR 10– By a News Reporter-Staff News Editor at Insurance Daily News– According to news reporting originating from Washington, D.C., by NewsRx journalists, a trademark application has been made for“ MUFG COMMITTED TO EMPOWERING A BRIGHTER FUTURE.” by Caroline E. Bryce Sheridan Ross P.C., representing Mitsubishi UFJ Financial Group, Inc. This application was…

In the settlement announced last week, State Farm agreed not to pursue a 30% hike it sought last year to cover a landslide of claims following the deadly wildfires that devastated several Los Angeles County communities. Last May, state Insurance Commissioner Ricardo Lara approved a 17% emergency rate hike for State Farm homeowners, a 15% increase for renters…

Cases that end in an "A" were filed in the 188th District Court; "B" in the 124th District Court; and "Ccl2" in the County Court at Law 2:. 2025-1409- B-1, Ricardo Rodriguez vs AIG Property and Casualty and Arthur J Gallagher Risk Management Services, LLC, Workers' Compensation. 2026-296- B, Larry Long vs Ronnie Pate d/b/a Maness Furniture, Breach of Contract.

According to insights from the 19th Annual Emerging Risks Survey, economic and geopolitical risks were identified as the most impactful near-term risks in 2026.

This Virginia Flood Awareness Week, the City of Alexandria encourages residents to learn about flood risk and the importance of flood insurance. On February 28, 2026, the City of Alexandria recognized Virginia's Flood Awareness Week with a proclamation at the City's legislative meeting. The City acknowledges the potential for future flood risks caused by…

One U.S. property/casualty company became impaired in 2024, compared with 13 in the previous year, according to an AM Best report. The report, titled,“ 2024 US Property/Casualty Impairments Update,” states that the lone 2024 insurance company impairment was a small automobile physical damage-only carrier geographically concentrated in the Chicago, IL,…

There’ s been a distinct trend in Florida’ s property insurance market, one that’ s been abetted by the complacency of Gov. Ron DeSantis and the state Legislature. But as the Sun Sentinel’ s Ron Hurtibise discovered, there is very little that can be described as honest or open about the way state regulators and insurance companies interact.

Today, Congressman Cliff Bentz introduced legislation to stop application of the provisions of the Endangered Species Act to the National Flood Insurance Program. Congressman Bentz's legislation amends the National Flood Insurance Act of 1968 so that the insurance program remains focused on its intended purpose: protecting property and human life from…

A new estimate prepared jointly by AM Best and Guy Carpenter projects that the ILS market reached USD 120 billion at year-end 2025, which was up from USD 107 billion at year-end 2024, according to the report. The 144 A property catastrophe bond market reached USD 57 billion outstanding as of year-end 2025; the year-over-year increase from 2024 is nearly USD 12…

Visitor Guard ® has introduced specialized 2026 FIFA World Cup visitor insurance plans for fans traveling to the United States, Canada, and Mexico. GLEN ALLEN, Va., March 9, 2026/ PRNewswire-PRWeb/– Visitor Guard ®, a leading provider of travel insurance solutions for international visitors, announces visitor insurance plans tailored specifically for fans…

The passage of medical malpractice reform is the most important public policy success in New Mexico in more than a decade. In addition to the medical malpractice bill, the Legislature entered New Mexico into the national doctor compact and enacted a $10,000 tax credit for physicians. It is cause for celebration, but please don't misunderstand, New Mexico still…