Property and Casualty News

In an effort to put a dent in the state's housing shortage, California is considering something unprecedented: getting into the construction insurance business. Recently, Assemblymember Buffy Wicks, an Oakland Democrat, and a bipartisan coalition of lawmakers raised the curtain on a long-awaited package of bills meant to push developers toward…

Candy Christiansen and her husband bought a vacation home about two years ago on Hilton Head Island. Our heart is on Ocean Lane,” she said. Hilton Head residents are often facing similar decisions: Go without flood insurance and risk their home or pay thousands in bills in insurance premiums.

The following information was released by the Tennessee Department of Commerce and Insurance:. The Tennessee Department of Commerce and Insurance announces 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'…

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….

RICHBURG, S.C.— It took less than three minutes for wind-whipped flames to go from licking the side of the house to shattering a window and working under the eaves to burn everything inside. The research is being done by workers at a remote site in South Carolina. The Insurance Institute for Business& Home Safety is a nonprofit created by insurers to make houses and…

The ceasefire between the U.S. and Iran is still in effect, but the maritime standoff between the two countries intensified this week. Iran attacked three cargo ships in the Strait of Hormuz, capturing two of them, as its blockade on the strait continues. The U.S. military also seized two tankers in the Indian Ocean, both associated with the smuggling of Iranian oil.

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….

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…