Property and Casualty News

The governor said there have now been more than 11,400 families register for individual help from the Federal Emergency Management Agency, and that FEMA has handed out more than $4.7 million thus far. In addition, there have been more than 11,600 insurance claims filed in the storm-ravaged area of western Kentucky. Through the Western Kentucky Toy Drive,…

In the spring of 2019, the Michigan Legislature passed a law that would reduce care for catastrophically injured people. The law was scheduled to go into effect on July 1, but Teresa Hughes, a Middleville resident, didn’ t have any concerns. When July 1 came, Teresa watched Troy, like thousands of people across the state of Michigan, lose their quality of care as…

"The impact of the recession on the small business community was severe, and small business tends to be overrepresented in the hardest– hit sectors of the economy, such as retail, hospitality, and food services," said Alan Walters, a Vice President, Insurance Research at Conning. The Conning study, " Small Commercial Insurance: Weathering the Pandemic Storm," analyzes…

Homeowners in Carteret and the other 19 coastal counties received good news in late November with the announcement that North Carolina Insurance Commissioner Mike Causey denied a proposed insurance premium increase that would have raised homeowner's insurance up to 25% and instead negotiated a rate increase that tops out at 9.9%. While this is good news…

Dec. 27— When Steve Kenny first received a check from his insurer for Hurricane Ida damages, he thought finally he'd have the money to repair his St. Charles Parish home. But one step remained: his mortgage company needed to endorse the check. "They're acting like this is their money," Kenny said earlier this month, standing on concrete floors in his Destrehan home,…

On Dec. 11, the rural western Wisconsin county dotted with picturesque farms and bountiful forestland, was blanketed with 7 to 8 inches of snow— fairly normal for this time of year. In Wisconsin, Dec. 15 was the first time a tornado watch has ever been issued anywhere in the state during the month of December, according to the National Weather Service.

Derek McMains couldn't shake a feeling of dread. In the 14 years he and his family had lived on their rural homestead outside Plattsmouth, they'd never left to escape a storm— even though their living quarters lack a basement. It was one of dozens of tornadoes on a record-setting Dec. 15.

The ASPCA recently commended New York State lawmakers and Governor Kathy Hochul for enacting critical legislation to prohibit insurance companies from utilizing the breed of a dog in determining homeowner insurance coverage. With this new law, which goes into effect 90 days after enactment, New York joins Nevada as the only two states that have enacted laws…

–Companjon, Europe's leading tech company specializing in embedded insurance, today announced the findings of its Q4 2021 survey of consumer behaviors and demands toward travel, transportation, ticketing and events, banking and fintech services. In partnership with world-leading data& insights company Dynata, the survey involves a large sample size of…

Insurance giant Travelers Cos., which employs thousands in downtown Hartford, is delaying indefinitely its broad-based return to the office as concerns grow about the COVID-19 omicron variant and a recent spike in infection rates. The Hartford insurer had planned a return to downtown offices beginning Jan. 18. Travelers, the property-casualty insurer,…

In response to tornadoes and storms that struck several Midwest and Southern states, New York Life announced today a pledge of $150,000 in corporate grants to disaster response organizations supporting Arkansas, Illinois, Kentucky, Mississippi, Missouri, and Tennessee and $100,000 to New York Life’ s Emergency Assistance Fund. New York Life will match…

Dec. 17— Federal prosecutors eliminated one of four mail fraud charges against Dayton businessman Brian Higgins in his insurance fraud case, according to a fourth superseding indictment filed this week in U.S. District Court in Dayton. The counts in the updated indictment replace those in three earlier indictments of Higgins, 50, of Dayton, who pleaded not…

A Louisiana licensed insurer plans to acquire all policies from Access Home Insurance Co. and State National Fire Insurance Co.,…

—California regulators approved a settlement Thursday placing more than half a billion dollars in fines and penalties on the utility Southern California Edison for its role in five wildfires in 2017 and 2018.. The Thomas fire, which burned in Ventura and Santa Barbara counties, is the eighth largest fire in California history, burning more than 439 square…

CHICAGO, Dec. 16, 2021 (GLOBE NEWSWIRE) — Over the past two years, the global pandemic accelerated consumer acceptance of digitization…

Customers of Citizens Property Insurance Corp., Florida’ s insurer of last resort, will pay hundreds of dollars more a year after Aug. 1 if state regulators OK the 11% and 12% statewide maximum allowable rate increases approved by the company’ s Board of Governors on Wednesday. If the proposed increases are approved by the Office of Insurance Regulation, all…

Fitch Ratings-New York/Chicago-15 December 2021: U.S. property/casualty insurers have modestly increased allocations to higher yielding alternative investments as they continue…

–Chubb has launched a new insurance offering to help protect companies from the financial costs associated with employment-related lawsuits filed for a range of issues, including wrongful termination, breach of contract, retaliation and otherwork-related issues. The Chubb Primary SM Employment Practices Liability Insurance policy provides coverage…