Property and Casualty News

Mayor Cherelle Parker signed City Council legislation in June that required the LTO to procure $2 million worth of liability insurance for each lockout and an additional $4 million annual policy. In some cases, landlords may be required to restart the eviction process with the Sheriff's Office, the local court system said in a notice to attorneys.

A breakdown of insurance data for the Maui wildfires shows more than 10,033 claims representing an estimated $3.29 billion- plus in losses. Some $2.34 billion of the claims, or over 71%, were paid as of June 30, according to data released Monday by the state Insurance Division. The claims are estimated at more than $1.63 billion in total losses, of which $1.36…

July 19, 2024, 9:00 a.m. ET. Greg Toczydlowski- Executive Vice President and President of Business Insurance Jeff Klenk- Executive Vice President and President of Bond& Specialty Insurance Michael Klein- Executive Vice President and President of Personal Insurance Abbe Goldstein- Senior Vice President of Investor Relations. This transcript is a textual…

An alarming number of home insurance carriers are denying new applications in Nevada- a clear indicator that the Silver State is facing a growing crisis as climate change elevates wildfire risk, state officials said. "The rapid escalation of Nevada home insurance cancellations is an extremely concerning development for our residents and, certainly, for the…

In May, the National Oceanic and Atmospheric Administration predicted there would be up to 25 named storms between June 1 and Nov. 30, and as many as 13 of those storms are expected to become hurricanes. But do you need it in North Carolina? One of the best ways homeowners can prepare for floods is by purchasing flood insurance, Charlotte-Mecklenburg Storm Water…

Essent Group Ltd. is a Bermuda- based holding company that went public in 2013 and is traded on the New York Stock Exchange. Two primary operating companies: Essent Guaranty, Inc. and Essent Reinsurance Ltd.. Offers private mortgage insurance, reinsurance and title insurance and settlement services to serve the U.S. housing finance industry. Transformed…

July marks National Vehicle Theft Prevention Month and AAA is taking the opportunity to warn against the growing number of vehicle thefts plaguing the country. After exceeding the 1 million mark in 2022 for the first time in nearly 15 years, total vehicle thefts nationwide have continued to edge upward, according to data compiled by the National Insurance…

HONOLULU— A breakdown of insurance data for the Maui wildfires shows more than 10,033 claims representing an estimated $3.29 billion- plus in losses. Some $2.34 billion of the claims, or over 71 percent, were paid as of June 30, according to data released on Monday by the state Insurance Division. The claims are estimated at more than $1.63 billion in total losses, of…

The current and prior period comparative results for Sagen MI Canada Inc., reflect the consolidation of the Company and its subsidiaries, including Sagen Mortgage Insurance Company Canada. The Insurance Subsidiary is engaged in the provision of mortgage insurance in Canada and is regulated by the Office of the Superintendent of Financial Institutions as…

As the calendar turns to August, many of North Carolina's college students will be returning to school and moving into dorms, student housing or apartments this month. State Insurance Commissioner Mike Causey is offering tips to students who may not be aware of important insurance coverage options when it comes to save-guarding their possessions.

Allstate has asked the state to approve an average 34.1% homeowners insurance rate hike for this year, the Department of Insurance confirmed Thursday. State Farm, California's largest insurer, received approval earlier this year from the Department of Insurance for a 20% increase. The state is likely to approve many of the rate hike requests as it attempts to…

First American Title Insurance Company, a leading provider of title insurance and settlement services and the largest subsidiary of First American Financial Corporation, today announced that Justin Lischak Earley, vice president and chief innovation underwriter, was named among the winners of the 2024 HousingWire Insiders awards.

American International Group, Inc. today reported financial results for the second quarter ended June 30, 2024. Second quarter adjusted after-tax income per diluted share was $1.16, a 9% increase year-over-year, or 38% on a comparable basis†. The second quarter accident year combined ratio, as adjusted, of 87.6% improved 40 basis points year-over-year, or 170…

Ryan Specialty, a leading international specialty insurance firm, is pleased to announce that it is forming an exclusive relationship with MagMutual, the largest mutual insurer of physicians and hospitals in the U.S. This relationship is through Sapphire Blue, which specializes in developing sophisticated solutions to complex healthcare risks, and is a…

A hidden insurance market is costing American homeowners and drivers dearly. It's called reinsurance, and insurance companies buy this coverage to help them cover losses following catastrophic events. "Reinsurance capacity has become constrained, and the cost of reinsurance has increased," said Betsy Stella, vice president of carrier management and…

Project 2025, the presidential transition plan of the Heritage Foundation, calls for the federal government to end the National Flood Insurance Program. "When flood costs exceed NFIP's revenue, FEMA seeks taxpayer-funded bailouts," said the group in Project 2025' s book "Mandate for Leadership," in a chapter focused on dismantling the Department of Homeland…

Although you may not think of it as a retirement haven, a Bankrate analysis found Delaware strikes the best balance between affordability, climate and cultural amenities. "While Delaware is a pricier state to live in, the state's high-quality healthcare, light tax burden, affordable homeowners insurance and good weather propelled it to the top spot this year,"…

Michigan personal auto insurance affordability has improved markedly since the state enacted significant auto insurance reform in 2019, according to a new report, Personal Auto Insurance Affordability in Michigan, published by the Insurance Research Council, a division of The Institutes. Before the reforms, Michigan drivers were required to purchase…

Orion180, a leading innovator in the insurance industry, is excited to announce its continued geographical expansion with its homeowner’s insurance services and coverage offerings into the state of Ohio. Through Orion Select Insurance Co., Orion180’ s admitted insurance carrier, Ohio homeowners can now choose from a variety of customizable coverage…