Property and Casualty News

Tennis at The Ocean Club. Your reduction is particularly due to Peter Kory, a Key Biscayne resident who served as the project coordinator. "Actually, it's almost incidental that we get credits leading to insurance premium reductions," Kory said a few days after presenting the floodplain management plan to the Village Council.

The U.S. war with Iran has added a new layer of uncertainty to the global economy. But disruptions from the conflict in Iran aren't likely to raise insurers' costs by that magnitude. If Americans drive 10% fewer miles in 2026, the average annual car insurance premium could fall to $2,209 by year's end.

Californians with Trupanion, Figo, and PetPartners will see their insurance rates increase between 7.9% and 28.1% when their policies next come up for renewal. The California Department of Insurance approved a 28.1% rate increase request from American Pet Insurance Company, which underwrites Trupanion pet insurance in California. Independence American…

Hundreds of thousands of properties in Hawaii do not currently qualify for flood insurance, the report noted, and many remain uninsured or underinsured despite these growing environmental risks. Hawaii farmers, for instance, do not qualify for federal crop insurance since it is only available to large-scale, single-crop farms more commonly found on the U.S….

Hundreds of thousands of properties in Hawaii do not currently qualify for flood insurance, the report noted, and many remain uninsured or underinsured despite these growing environmental risks. Hawaii farmers, for instance, do not qualify for federal crop insurance since it is only available to large-scale, single-crop farms more commonly found on the U.S….

The Hartford today announced financial results for the first quarter ended March 31, 2026. The Hartford’s Chief Financial Officer Beth Costello said,“ Business Insurance delivered another strong quarter, with 6 percent written premium growth and an underlying combined ratio of 89.2. In Personal Insurance, the underlying combined ratio improved 4.7 points,…

Tracy Barber moved to Pawleys Island six years ago for its community appeal and coastal charm. He now pays $2,650 a year in private flood insurance, although he hasn’ t had any flooding issues or claims. He switched agencies this year to avoid a jump to a $3,350 premium, but he’ s still shoveling out more than last year.

Sasha Renée Pérez, D- Alhambra, said of the bill before it died in the Senate Insurance Committee. Seren Taylor, a lobbyist for the Personal Insurance Federation of California, an industry trade group, called the measure a“ direct threat to insurance solvency” because it would force companies to take on much more risk without requiring that their rates be high…

Hundreds of thousands of properties in Hawaii do not currently qualify for flood insurance, the report noted, and many remain uninsured or underinsured despite these growing environmental risks. Hawaii farmers, for instance, do not qualify for federal crop insurance since it is only available to large-scale, single-crop farms more commonly found on the U.S….

AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of The Tokio Marine and Nichido Fire Insurance Company Limited. The outlook of these Credit Ratings is stable. The ratings also consider support from its parent, Tokio Marine& Nichido Fire Insurance Co., Ltd., which is the main insurance operating entity of Tokio…

AM Best has assigned a Financial Strength Rating of B+ and a Long-Term Issuer Credit Rating of“ bbb-” to Ocean Marine Indemnity Company. OMI is a Louisiana- domiciled ocean marine insurer that writes hull& machinery and protection& indemnity coverage for commercial maritime operators, primarily in Louisiana and the Gulf Coast. The company derives substantially…

Heightened killings by terrorists across Nigeria has made it imperative for the federal government to have a re-think on insurers' request for collaboration to provide terrorism insurance cover for Nigerians writes Ebere Nwoji. But Nigeria and some other countries were less concerned about what to do to prevent that from happening or to cover the damages…

Bar and restaurant owners would not have to carry a $1 million liquor liability insurance policy for one year under a proposal approved by the state Senate on Wednesday. The Senate during its annual budge debate voted to suspend the liquor liability law that passed last year in an effort to help bars stay open. The compromise between the House and Senate last…

Insurance Commissioner Mike Causey today announced that the N.C. Department of Insurance has settled a dwelling rate case with North Carolina insurance companies. The N.C. Rate Bureau, which is not a part of the N.C. Department of Insurance and represents property and casualty insurance companies writing premiums in North Carolina, had requested a statewide…

The Tennessee Department of Commerce& Insurance announced new guidelines for insurance carriers when using aerial imagery, including drone photography, when inspecting consumers' properties. "Our team is aware of incidents in other states where homeowners' insurance policies were not renewed or cancelled as a result of the use of aerial photography," said…

Alliant Insurance Services announces a series of strategic leadership appointments within its Property& Casualty operation: Bob Bennetsen has been named Senior Managing Director, National Sales& Recruitment, and John Harney will serve as Head of Alliant Americas. Additionally, Michael Cusack was recently appointed as President, Alliant P&C.

Alliant Insurance Services announces Michael J. Cusack has been appointed President, Alliant Property& Casualty. Cusack previously served as head of Alliant Specialty, responsible for overseeing 16 industry verticals and expanding Alliant’ s specialty business across the U.S. In his new leadership position, Cusack will manage the firm’ s $2.3 billion P&C…

Governor Kathy Hochul today joined the New York Farm Bureau, Northeast Dairy Producers and farmers from Upstate to highlight her proposals to bring down auto insurance rates and tackle fraudulent claims across New York State. Additionally, Governor Hochul proposed $30 million in her FY27 Budget for direct "tariff relief" for New York farmers to offset…

At State Farm Insurance Agent Kathy Powell's office on Opelika Road in Auburn, the approach centers on adapting coverage to fit real life, not forcing customers into rigid policy boxes. Whether someone just moved to Lee County and needs car insurance Auburn residents trust, or a small business owner requires commercial insurance Alabama regulations demand,…