Property and Casualty News

During the event,“ AM Best’s Analytical Briefing- The State of Florida Property Market,” a panel of AM Best analytical staff and industry experts discuss the current state of the Florida property market ahead of the 2026 hurricane season. Lauren Magro, senior financial analyst, AM Best Chris Dittman, executive managing director, Aon Dave Newell, vice president of…

California takes legal action against State Farm after investigation finds widespread mishandling of LA wildfire claims. State Farm policyholders filed approximately 11,300 residential claims related to the Los Angeles wildfires, nearly one-third of the 38,835 claims filed across all insurers, according to the department's official claims tracker.

State Farm could face millions of dollars in penalties and a possible temporary suspension of its license in California as a result of hundreds of alleged law violations related to its handling of claims from the Los Angeles County fires last year. "Our investigation found that State Farm delayed, underpaid, and buried policyholders in red tape at the worst…

The California Department of Insurance is hoping to level penalties against State Farm after it found the insurance company excessively denied, delayed and underpaid claims filed by survivors of the 2025 Los Angeles wildfires. In a legal document filed against State Farm, the department seeks millions of dollars in financial penalties, as well as a…

The state Department of Insurance is seeking as much as $4 million in penalties from insurance giant State Farm due to its alleged mishandling of claims filed by survivors of the January 2025 wildfires that swept through the Los Angeles area. The regulators, who launched their investigation into State Farm last summer, also are considering a temporary…

The House Insurance Committee held a public hearing Monday, April 13, for a bill that aims to help homeowners handle insurance claims during disasters. David Casteel, R- High Ridge, would instate the "Missouri Disaster Mediation Act" and the "Missouri Stronger Homes Act," along with other changes to home insurance. "The bill is a comprehensive consumer-focused…

"For more than two decades, Congress has recognized the need for the Terrorism Risk Insurance Program. While making sure American businesses have access to this protection is an unfortunate necessity in today's world, it's critical that Congress extend the program, "said Senator Britt. In 2002, Congress first passed the Terrorism Risk Insurance Act to make…

U.S. Senators Catherine Cortez Masto, Dave McCormick, and Tina Smith introduced legislation to extend the Terrorism Risk Insurance Program for another seven years. "From the Super Bowl to the World Series of Poker to F1 races, the Silver State regularly hosts large gatherings," said Senator Cortez Masto. Extending the Terrorism Risk Insurance program would help…

Porch Group, Inc., a new kind of homeowners insurance company, today announced its upcoming investor event attendance. May 5, 2026: Stephens Inc. Non-Deal Roadshow May 6, 2026: Oppenheimer Non-Deal Roadshow May 14, 2026: 21 st Annual Needham Technology& Media Conference May 19, 2026: KBW Real Estate Finance& Technology Conference May 20, 2026: J.P.

Noozhawk republishes news articles from CalMatters on state and local policy issues that affect Santa Barbara County readers. Or perhaps they're trying to rebuild after last year's deadly Los Angeles County fires. For the past few years, insurance companies have paused writing homeowner policies or reduced their presence in California.

Once again, apparently in an effort to improve their bottom line to recover from a growing list of costly disasters, insurance companies licensed in the state proposed another outrageous rate increase, this time for insurance covering second homes and apartments- under the category of dwelling insurance. This followed a failed effort last year to do the same…

COLUMBIA— South Carolinians' cost for replacing cracked or broken windshields could change with legislation advancing in the Statehouse. As long as they have comprehensive coverage, South Carolina drivers don't pay out of pocket for windshield replacements. Still, there is no "free" glass coverage in South Carolina.

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of“ a” of Auto Club Insurance Association and its wholly owned subsidiaries and affiliates, which are collectively referred to as Auto Club Group. Concurrently, AM Best has affirmed the FSR of A- and the Long-Term ICRs of“…

American Club benefits from its membership in the International Group of Protection& Indemnity Club’ s pooling agreement and shared reinsurance program, which allows it to provide the large insurance cover limits required by ship owners. At year-end 2025, American Club reported an overall surplus of USD 65.5 million primarily driven by healthy investment…

The Pennsylvania Insurance Department announced that Pennsylvania's personal auto insurance market is stabilizing after several years of rising premiums, offering relief from premium increases for drivers across the Commonwealth. "We're happy to see stabilization of the personal auto insurance market in Pennsylvania, which signals a healthy,…

The team at Citrus Title Company in Inverness has distinguished itself, for the fifth year, as the Top Florida Agent for First American Title Insurance Company. Citrus Title is owned by local veteran Jen Duca. The award presentation was made recently by Bobbi Jo Alonso and David Roberts of First American Title Insurance, who said achieving top title agency…

The start of the 2026 Atlantic hurricane season is just a month away and the Insurance Information Institute is recommending homeowners, condo owners, renters and business owners prepare now. Led by Colorado State University senior research scientist Phil Klotzbach, Ph.D., a non-resident scholar at Triple-I, the CSU TC-RAMS Team forecasts“ a slightly below…

Newrez, a top five mortgage lender and servicer, today released findings from an analysis of roughly 1.2 million Newrez- serviced residential mortgage loans. According to the study, the average annual homeowners insurance premium increased 64% between year-end 2021 and year-end 2025 when the average premium grew from $1,597 to $2,625.

Hurricane season is just about ready to blow in, and that means it's a good time to go over your insurance policy and, if you don't have one, to get one. Obviously home insurance is big business in Florida where people pay almost as much attention to hurricane forecasts as their medical check- ups. Twin hurricanes in 2024 exposed a lot of problems with insurance— from…

The following information was released by the American Hotel and Lodging Association:. Today the American Hotel and Lodging Association issued the following statement in support of the U.S. Senate introduction of the Terrorism Risk Insurance Act extension:. AHLA thanks the bipartisan group of senators for introducing this incredibly important…