Property and Casualty News
Property and Casualty News RSS Get our newsletter

Thomas and Eileen Schoenberg had to get a new homeowners insurance policy when purchasing their St. Lucie County condominium in December 2019. Capital Insurance Agency, Inc., had offered them a yearly rate around $1,100, Thomas Schoenberg said. The couple successfully found a cheaper alternative, a roughly $1,700 annual policy with Florida Peninsula…

The archdiocese hopes to raise enough money, including through insurance payouts, to settle the bankruptcy case involving more than 400 people who allege they were victims of clergy sexual abuse, with some claims dating back decades.

Thomas and Eileen Schoenberg had to get a new homeowners insurance policy when purchasing their St. Lucie County condominium in December 2019. Capital Insurance Agency, Inc., had offered them a yearly rate around $1,100, Thomas Schoenberg said. The couple successfully found a cheaper alternative, a roughly $1,700 annual policy with Florida Peninsula…

INDIANAPOLIS, Indiana, Feb. 24– The National Association of Mutual Insurance Companies issued the following news release on Feb. 23, 2022:. Pandemics are inherently uninsurable events, the National Association of Mutual Insurance Companies told members of Congress. Andrew Pauley, NAMIC's public policy counsel, explained at a virtual roundtable hosted by Rep….

–Liberty Mutual Holding Company Inc. and its subsidiaries reported net income attributable to LMHC of $722 million and $3.068 billion for the three and twelve months ended December 31, 2021, increases of $560 million and $2.310 billion over the same periods in 2020, respectively. "We had a strong finish to the year with net income attributable to LMHC of $722…

–Despite optimism at the outset of the quarter, property and auto insurance shopping trended below 2020 levels at the end of 2021. TransUnion’ s latest Personal Lines Insurance Shopping Report found auto insurance shopping was down an average of 12.5%, while property insurance shopping dropped an average of 3.4%, compared to the same time period in 2020..

In North Carolina, the worries about climate change often focus on more frequent storms with heavier rainfall, but a new federal report points to an equally potent danger– the seeping effect of sea level rise. The report released by the National Oceanic and Atmospheric Association as part of a multi-agency project shows that sea levels along U.S. coastlines…

California is implementing a three-pronged approach dubbed "Safer from Wildfires" to reduce the wildfire risk of older homes, including measures to harden homes, their immediate surroundings and the communities they are in. California has existing wildfire building standards for homes built after 2008. California coastal blaze a grim omen for 2022…

Pay close attention, this is a very serious issue for Florida homeowners. Florida homeowner insurance is double the national average and it's not because of weather, it's "lawsuit abuse." Between 2013 and 2020, Florida's property insurers paid out $15 billion in claims costs, but only 8% of that was paid to the homeowner, while 71% was paid to attorneys.

The pandemic has introduced a discomfiting element of gambling to travel planning. Megan Moncrief, chief marketing officer for travel insurance aggregator Squaremouth, said CFAR has become the go-to plan for more travelers. A travel insurance plan from TravelEx for a $12,000, nine-day, two-person trip to Canada, Italy or France in June costs $522, including…

Jessica Long, 29, was in standstill traffic in her vehicle on Interstate 95 in Jacksonville on Dec. 15, 2018, when Virjona Gjuraj, driving a Honda, collided with the back of her car. After a lengthy legal battle that began in October 2019, a Duval County jury awarded Long a $16.4 million settlement against her insurance company, Travelers Home and Marine Insurance.

Feb. 16— The man in charge of paying claims to PG&E Corp.' s wildfire victims just engineered a massive stock sale, unloading $483 million worth of the utility's shares to raise money for thousands of Northern Californians in need. It was the first sale of PG&E stock since the trust was established, and it underscored a problem that's been clouding the lives of…

Officials in the U.S. state of California have issued a series of recommendations for homeowners to better protect themselves and their communities from devastating wildfires. California routinely deals with wildfires, and state officials said since 2017, the fires have destroyed nearly 50,000 homes. Some information for this report came from The…

But state Auditor and Insurance Commissioner Troy Downing said regulatory authority over bondsmen is limited to insurance matters, and a bigger fix is needed for "wide open" fugitive recovery tactics in Montana "ripe for abuse." As it stands, he told The Montana Standard, there are virtually no regulations on what bondsmen and bounty hunters can and can't do in…

A proposal to allow insurance companies to cover only part of the cost to replace damaged older roofs advanced in the state Senate on Wednesday, but time is running out for the House to take action on a needed companion bill. Also advancing was a proposal to prohibit customers of state-run Citizens Property Insurance Corp. from renewing their policies unless…

Feb. 15— An AARP survey of Jackson County residents 45 and older found that many suffered financial blows plus physical and mental health impacts from destructive 2020 wildfires. In late 2021, AARP surveyed 910 residents via phone and text. However, only 17% whose mental health suffered sought professional help, AARP said.

Feb. 15— State regulators rolled out a "Safer from Wildfire" program Monday to encourage rural residents and business owners to gird their properties as a way of fixing the insurance crisis that's plagued the Sierra foothills and other fire-prone areas of California the past few years. A year in the making, Lara's plan was designed in consultation with Cal Fire,…