Property and Casualty News

Traditional homeowners' and renters' insurance policies that are not accompanied by separate flood insurance would not cover claims for damage or destruction caused by floodwaters that came "from the ground up," said Sam Thomsen, investigations branch chief for the state Department of Commerce and Consumer Affairs. Homeowners could be compensated for…

The following information was released by the Insurance Information Institute:. MALVERN, Pa., April 1, 2026 Legislative reforms targeting legal system abuse and claim fraud in Florida have continued to help stabilize the Sunshine State's property/casualty insurance market, contributing to rate-filing reductions by dozens of property and auto insurers…

AM Best has assigned a Financial Strength Rating of B++ and a Long-Term Issuer Credit Rating of“ bbb” to Aseguradores Argentinos Compania de Reaseguros S.A.. ACR is a reinsurance company founded in 2012 in Buenos Aires, Argentina, and ranks among the country’ s top reinsurance companies based on gross premiums market share. As of June 2025, property/casualty…

The following information was released by Public Citizen:. The announcement, made during the NAIC 2026 Spring National Meeting, came shortly after Public Citizen, joined by a coalition of 49 consumer protection, climate, and housing justice groups backed by nearly 20,000 activists, called on regulators to make critical insurance data public outside of the…

The release of another new study on the impacts of natural disasters in California may not normally get more than a shrug of wider public attention. After a decade of ever more devastating and deadly wildfires in the state, California suffered its costliest firestorm again last year in the January 2025 wildfires that destroyed more than 16,000 structures in…

AM Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of“ aa+” of Berkshire Hathaway Homestate Insurance Company and its property/casualty affiliates. These companies collectively are referred to as Berkshire Hathaway Homestate Companies. The positive rating factors are offset to a degree by challenging market…

The following information was released by the Oklahoma House of Representatives:. The Oklahoma House of Representatives has unanimously passed House Bill 3802, authored by Rep. Chris Sneed, R- Fort Gibson, to protect surviving spouses from auto insurance rate increases following the loss of a spouse.

New Method Addresses the $25 Billion Blind Spot in U.S. Auto Insurance

Travel insurance is often viewed as an optional extra, particularly for cost-conscious Australians planning holidays on a budget. However, choosing the cheapest policy without understanding what it covers can quickly become an expensive mistake. Medical emergencies, trip cancellations, lost luggage, and travel delays can cost thousands of dollars if you…

INSURANCE: A bill giving the Illinois Department of Insurance authority to review and regulate premiums for both auto and homeowners insurance passed the House March 19 and now awaits Senate action. Insurance industry advocates contend the proposal would end up harming Illinois consumers, stating it represented "one of the most sweeping and harmful…

And contra Ronald Reagan, in this case there's reason to think the government truly can help. To address soaring insurance premiums and coverage gaps in an age of worsening climate-fueled disasters, the Brookings Institution has proposed creating a federal reinsurance company to cover U.S. home insurers. It would be, as proposal co-author Benjamin Keys of the…

The following information was released by the U.S. Government Accountability Office:. The Federal Emergency Management Agency administers three primary programs that mitigate flood risk for properties insured by the National Flood Insurance Program. A small number of these propertiesknown as repetitive loss properties, which have flooded and received…

Decluttering is beneficial for the good of the mind and, according to Dante, obligatory for the good of the soul. An early one, "Case& Comment, The Lawyers Magazine," had timely articles entitled "Malpractice Crisis: Fact or Fiction" and "Medical Malpractice Insurance Crisis" in its July- August 1975 issue. The first item, written by a law professor at George Washington and…

–Colorado is projected to have the sixth-highest home insurance rates in the country this year, according to a new report. In Denver County, the average homeowner premium is $3,040, with an average of $1,547 due to hail. Matt Brannon, a senior economics analyst with Insurify, said Colorado“ wasn’ t always as big of an outlier in the region.”.

Decluttering is beneficial for the good of the mind and, according to Dante, obligatory for the good of the soul. An early one, "Case& Comment, The Lawyers Magazine," had timely articles entitled "Malpractice Crisis: Fact or Fiction" and "Medical Malpractice Insurance Crisis" in its July- August 1975 issue. The first item, written by a law professor at George Washington and…

W. R. Berkley Corporation will release its first quarter 2026 earnings after the market closes on Tuesday, April 21, 2026. Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty insurance business: Insurance…

The following information was released by the National Association of Insurance Commissioners:. During the National Association of Insurance Commissioners' 2026 Spring National Meeting, state insurance regulators announced they have issued a nationwide data call to insurance companies to better understand homeowners insurance markets across the…

The combined bill now awaits Senate approval before being sent to Gov. Pritzker initially called for rate review authority over homeowners insurance last summer after Bloomington- based State Farm Insurance announced it was raising rates in Illinois an average 27.2%, citing losses it had incurred from weather-related disasters in the state.

AM Best has removed from under review with positive implications and affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of“ aa-” of Sompo Japan Insurance Inc. and its subsidiaries. The acquisition of Aspen is expected to increase SJ’ s business scale and specialty line capabilities, materially enhancing its presence in the…