Property and Casualty News

Arrests reported by Marshall police. Roshunn Rondell Powell Jr., 22, of Marshall was arrested and charged with forgery of a financial instrument, tamper/fabricate physical evidence with intent to impair, theft of firearm, first no liability insurance, unrestrained child under 8 years old, no valid driver's license and vehicle registration on Friday.

State insurance regulators recently approved rate increases for two of USAA's largest subsidiaries. USAA is the sixth-largest home insurer in California. The California Department of Insurance approved USAA's request for a 16% increase to homeowners policy rates and a 31% increase to condo owners insurance policies.

A new study from the Insurance Research Council, an affiliate of The Institutes, shows that the processes to achieve approved rate filings for personal auto insurance throughout the U.S. has become more cumbersome since 2010, negatively impacting market performance. Key findings from IRC’ s study, Rate Regulation in Personal Auto Insurance: Comparison of…

Shares of Loews Corporation (NYSE: L) traded at a new 52-week high today and are currently trading at $84.22. So far today, approximately 37,207 shares have been exchanged, as compared to an average 30-day volume of 614.05k shares. Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers […]

Soon after auto accident attorney Steven Gursten wrote a critical blog post earlier this year about fast-growing CURE Auto Insurance, he received a stern letter by certified mail from the insurance company's own lawyer. For Gursten, who owns Farmington Hills- based Michigan Auto Law and who has blogged for years about driver's safety and auto insurance…

AM Best has maintained its market segment outlook for the global reinsurance segment at positive, citing robust underwriting returns and the potential for solid full-year 2024 results despite an active Atlantic hurricane season. However, concerns remain about adverse development in the U.S. casualty segment, with many reinsurers re-evaluating their…

Embroker, the digital insurance company radically simplifying the insurance buying experience for businesses, today released its“ 2024 Cyber Risk Index: Startup Edition.” The findings show a consistent year-over-year increase in cyber insurance adoption– with a greater focus on simplicity, resilience, and investor appeal in a rapidly evolving cyber risk…

Porch Group, Inc., a homeowners insurance and vertical software platform, today announced Porch Group Media, the data and marketing subsidiary of Porch, has signed an agreement to license non-exclusively its unique Home Factors insights to California- based insurance MGA, Bamboo Ide8 Insurance Services, LLC.. These insights have already demonstrated strong…

Andrew J. Hoffman, University of Michigan. Home insurance rates are rising in the United States, not only in Florida, which saw tens of billions of dollars in losses from hurricanes Helene and Milton but across the country. Despite these rising rates, Jacques de Vaucleroy, chairman of the board of reinsurance giant Swiss Re, believes U.S. insurance is still priced…

Home insurance rates are rising in the United States, not only in Florida, which saw tens of billions of dollars in losses from hurricanes Helene and Milton, but across the country. When home insurance averages $2,377 a year nationally, and $11,000 per year in Florida, this is a blow to many people. Despite these rising rates, Jacques de Vaucleroy, chairman of the…

This hurricane season has given U.S. Sen. Cassidy has been at the forefront of this issue in Congress, leading conversations to ensure the health of the NFIP and rising premiums are not ignored in Washington. This summer, Cassidy delivered a speech on the U.S. Senate floor urging his colleagues to address NFIP affordability.

CONNECTIONS CONFERENCE– Guidewire will showcase its commitment to improving risk selection and pricing, indemnity management, and claims efficiency in property and casualty insurance at its annual customer conference, Connections. The event will unveil future underwriting and claims application capabilities enhanced by AI, introduce Claims Intel*, a…

Insurance Commissioner Ricardo Lara announced the California Department of Insurance has submitted the final wildfire catastrophe modeling regulation to the Office of Administrative Law for approval. This "first-of-its-kind in California's history" regulation strengthens Prop. 103 by establishing unprecedented coverage commitments from…

Nov. 15— Insurance Commissioner Ricardo Lara announced on Thursday afternoon that the California Department of Insurance has submitted the final wildfire catastrophe modeling regulation to the Office of Administrative Law for approval. "As California experiences more intense climate impacts, technology will tell us where the risks truly are and…

AM Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of“ aa+” of the life/health subsidiaries of Delphi Financial Group, Inc.: Reliance Standard Life Insurance Company and First Reliance Standard Life Insurance Company. AM Best also has affirmed the FSR of A++ and the Long-Term ICRs of“ aa+” of DFG’ s property/casualty…

These companies represent the key life/health insurance subsidiaries of Ameriprise Financial, Inc. and are collectively known as Ameriprise Financial Group. Concurrently, AM Best has affirmed the FSR of A and the Long-Term ICR of“ a+” of Ameriprise Captive Insurance Company, a property/casualty subsidiary of Ameriprise. In addition, AM Best has affirmed the…

Luvera Law Firm has earned two tier-one designations in the 2025 U.S. News– Best Lawyers“ Best Law Firms” rankings for excellence in Personal Injury Litigation– Plaintiffs and Medical Malpractice Law– Plaintiffs for the 15th consecutive year. In 2023, the firm secured a verdict of more than $102 million against Nationwide Insurance for egregious misconduct…

As the housing market continues to evolve and mortgage rates remain elevated, many U.S. homeowners are choosing to invest in their current properties rather than enter the uncertain market for a new home.