Property and Casualty News

A retainer agreement between the Lawton Economic Development Authority and the Center for Economic Development Law prompted a question of whether LEDA is adequately insured. In the agreement, which extends from July 1, 2026, through June 30, 2027, the Oklahoma City legal firm agrees "to maintain in force and effect a professional liability insurance policy"…

Louisiana may soon get a massive influx of money for a widely touted solution to ever-rising home insurance rates: Fortified roofs. State lawmakers appear poised to pass a bill that would add significantly more money to the grant program that gives Louisiana homeowners $10,000 each toward a new fortified roof. The cash would come from excess funds collected…

CEDAR RAPIDS— A Cedar Rapids man is accused of theft and insurance fraud after investigators said he submitted life insurance claims for three children whose deaths could not be substantiated. Thompson Nagbe Jr., 37, made two fraudulent life insurance claims on policies he enrolled in through his employer, according to a Linn County criminal complaint.

"The availability of insurance is based on the perception of the risk, and the cost of insurance is directly tied to the cost of claims, and those can be two totally separate things," said Senior Property and Casualty Policy Advisor David Forte from the Washington State Office of the Insurance Commissioner. According to Forte, costs have increased in tandem with…

JB Pritzker kicked off a campaign for tighter insurance regulation in Illinois. Now, the whirlwind of negotiations, proposals, and failed legislation that ensued could be nearing an end as two bills recently passed out of the Senate. Kevin Martin, executive director of the Illinois Insurance Association, warned that excessive regulation could drive insurers…

AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a+” of Ping An Property& Casualty Insurance Company of China, Ltd. The outlook of these Credit Ratings is stable. In 2025, the company’ s C&S increased by 7.0%, reaching RMB 146.2 billion by year-end.

OKLAHOMA CITY— Insurance Commissioner Glen Mulready made the following statements regarding legislation signed into law and the announcement of a public hearing regarding homeowners market status:. The department has already begun preparing for this new file and use process, which will become effective on July 1, 2027. For too long, trial lawyers have…

When do you need travel insurance? Plus how to get it. Ask Sofia Calvin, a travel advisor with Storied Travel, and she'll tell you that purchasing travel insurance coverage is a smart investment.

Neptune Insurance Holdings, Inc., the largest private flood insurance provider in the United States, today announced the nationwide launch of Atlas+, Neptune’ s new AI-powered platform experience for insurance agents. Atlas+ is designed to help agents become flood insurance sales experts by bringing generative AI directly into the Neptune Agent Portal.

Church Mutual Insurance Company, S.I. 1 today shared 2025 financial results for the Church Mutual family of companies at its annual policyholder meeting, reflecting continued financial strength and disciplined performance. Policyholder surplus of $805.5 million, an increase of $91.1 million from year-end 2024 Combined ratio of 99% Gross written premium…

AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of“ bbb” of Nacional de Seguros S.A. Compañía de Seguros Generales. Nacional de Seguros began operations in 2014 after acquiring Ecoseguros S.A., a company in voluntary liquidation, with fulfillment and liability insurance licenses granted by the…

Insurity, a leading provider of cloud-based software and analytics for property and casualty insurers, today released new findings from its 2026 AI in Insurance Report examining consumer attitudes toward artificial intelligence in severe weather monitoring and catastrophe response. The data suggests consumers are increasingly open to insurers using…

Severe weather and car insurance claims: What causes the most damage and what to do about it. When storms strike, car damage from hail, wind, flood or falling debris can be costly. *Since insurers place binding restrictions on policy changes once a storm is named, add comprehensive coverage to your policy before hurricane season begins on June 1.

The insurer— which is backed by six standard insurance companies for wildfire damage only— first sought a 35.8% hike to keep it from slipping into financial trouble, Michael Soller, spokesman for the state "s Department of Insurance, said Wednesday, May 20 via email. As of year-end 2025, about four in five of the plan’ s more than 668,600 homeowner policies in…

Severe weather and car insurance claims: What causes the most damage and what to do about it. When storms strike, car damage from hail, wind, flood or falling debris can be costly. *Since insurers place binding restrictions on policy changes once a storm is named, add comprehensive coverage to your policy before hurricane season begins on June 1.

St. Martinville– The St. Martinville City Council authorized Mayor Jason Willis to enter into an intergovernmental agreement to clean Willis Canal, a parish-owned canal just behind some apartments on Willis Drive, contingent on approval of the agreement by City Attorney Allan Durand. Willis said the parish is willing to do the work but requires the…

Porch Group, Inc., a new kind of homeowners insurance company, today announced that Homeowners of America has launched in Michigan, marking the 22nd state in which HOA operates. “We’ re pleased to bring HOA’ s homeowners insurance offering to Michigan and expand our ability to serve independent agents and policyholders in another important market,” said Matt…

Extreme weather, amplified by climate change, has raised insurer risks and insurance rates for U.S. homeowners, especially in the last decade. Florida, for example, sustained a staggering $237 billion in disaster damage from 2020 through 2024— increasing non-renewal rates and stoking the state's insurance crisis. California has its own insurance crisis…

AM Best will participate in a panel discussion at the Casualty Actuarial Society’ s Seminar on Reinsurance, which will take place May 31- June 2, 2026, in Philadelphia, PA.. Greg Dickerson, director, AM Best, will join a session on Tuesday, June 2, titled,“ Rating Agency Update,” which will provide an update on the U.S. property/casualty and global reinsurance segments.