Property and Casualty News

In an accompanying petition for intervention filed in Oklahoma County District Court, Drummond asserts that while State Farm marketed its policies as providing full replacement-cost coverage, the company predetermined claim outcomes to meet corporate savings targets rather than honoring policy promises. Drummond is asking the court to award…

Sonoma County’ s median rate for home insurance premiums shot up more over the past decade than in any other part of the nine-county Bay Area, while Lake and Mendocino counties, where wildfires have exacted a wider if not deeper toll, have seen rates climb even faster and higher. The median cost in Marin County in 2024 was highest in the North Bay at $2,658 but the 10-…

Across the United States, climate change is driving more intense and frequent flooding, putting millions of homes and neighborhoods at growing risk. In our new study, "Effects of Risk-Based Pricing Reform on Flood Insurance Uptake," published in the Journal of Catastrophe Risk and Resilience, my coauthors Max Snyder, Carolyn Kousky, and I examine how the National…

State rules on auto insurance nonrenewal notice. When the mail arrives carrying a letter from a car insurance provider, the natural inclination is often to toss it into the "later" pile. In this article, Cheap Insurance explores the legal foundations protecting consumers and reveals the varying deadlines that insurers must abide by across the country.

The following information was released by the American Medical Association:. Researchers detail what happened in Illinois and Georgia after their state courts knocked down limits on noneconomic damages in med-mal cases. In what's believed to be a first-of-its-kind study, researchers discovered "large and persistent increases in malpractice insurance…

The following information was released by the National Association of Insurance Commissioners:. Last week, the National Association of Insurance Commissioners' 2025 Fall National Meeting showcased the collaboration and coordination at the heart of the U.S. state-based insurance regulatory system. On Dec. 10, the Task Force adopted the principles…

The following information was released by Pennsylvania House of Representatives, Republican Caucus:. The House has unanimously passed legislation authored by state Rep. Kerry Benninghoff that would make government more efficient for consumers who attempt to change auto insurance carriers.

PORT CLINTON— An Oak Harbor woman currently serving time in prison for stealing over half a million dollars while working at a local travel agency is challenging the amount that the Pittsburgh- based insurance company claims she still owes. On Oct. 8, the National Union Fire Insurance Co., of Pittsburgh, filed a lawsuit against Michelle Ireland, 55, of the 400 block…

AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of“ a-” of Bahamas First General Insurance Company Limited and Cayman First Insurance Company Limited, the property/casualty operating subsidiaries of Bahamas First Holdings Limited. The outlook of these Credit Ratings is stable. Like most Caribbean insurance…

As rising premiums and tightening coverage options continue to strain household budgets, millions of U.S. homeowners are grappling with the growing challenge of affording and maintaining adequate insurance protection. The U.S. homeowners segment is projected to post double-digit net written premium growth in 2025, with a return to overall…

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of“ a-” of Hagerty Reinsurance Limited and its reinsured affiliate, Drivers Edge Insurance Company. Hagerty Re and Drivers Edge are both wholly owned subsidiaries of Hagerty Insurance Holdings Inc..

MetLife Pet Insurance today announced a new exclusive collaboration with Petstablished, the industry-leading provider of management software for animal welfare organizations, to offer pet insurance quotes directly within the adoption and registration process on the Petstablished platform, which supports over 1,000 AWOs and facilitates more than…

State Farm has good news and bad news for Louisiana policyholders. State Farm is the largest personal auto and homeowners insurer in Louisiana. More than 1,066,000 State Farm personal auto insurance policyholders will receive an average rate decrease of 5.9%, starting on Jan.1, 2026..

Should you be able to buy homeowners insurance during a blizzard? For example, one insurer's website states, "No new homeowners or auto policies may be bound in Florida counties under a hurricane warning. "If let that happen unchecked, then they get flooded with immediate claims from the highest-risk folks," Adam Dayan, attorney and founder of Consumer Law Group LLC,…

The following information was released by the Insurance Information Institute:. As rising premiums and tightening coverage options continue to strain household budgets, millions of U.S. homeowners are grappling with the growing challenge of affording and maintaining adequate insurance protection. The Insurance Information Institute's latest Issues…

Supply chain snags spike total auto loss claims. The automotive past offered predictability. The rising frequency of total loss claims is a key driver behind increasing auto insurance premiums, a trend analyzed closely by resources such as Cheap Insurance.

PointBridge, a leading managing general underwriter specializing in professional liability insurance, announced today the launch of a new admitted physicians medical malpractice program in partnership with Aspen, an AM Best A rated global specialty lines company. "We’re excited to partner with Aspen to bring a fresh approach to physicians professional…

Insurance Business America has named Danette Beck from Astrus Insurance Solutions as a 2026 Hot 100 Award winner. Beck was named a 2020 Woman to Watch by Business Insurance and a Risk& Insurance Power Broker in 2015, 2016 and 2018.. “For the third consecutive year, Danette’ s recognition as a Hot 100 Award winner is a testament to her unparallelled commitment to…

OKLAHOMA CITY— A comprehensive package of legislative policy proposals designed to provide Oklahomans with stronger consumer protections, enhanced transparency, and relief from rising homeowners insurance premiums, was announced recently by the state Insurance Department. Insurance Commissioner Glen Mulready said the proposals reflect ongoing…