Property and Casualty News

Pat Ravasio doesn’ t tiptoe around the topic of climate change. The 67- year-old mother of three adult daughters, who grew up in Terre Haute, serves as mayor of Corte Madera, California. On Tuesday, Jan. 7, wildfire devastated the Pacific Palisades sector of L.A.— one of three deadly, destructive fires that stormed through the Los Angeles metro area this month.

Recent technological advancements have spurred a major transformation in the modern insurance industry. The centuries-old sector has adopted technology at such a rapid rate that digital solutions now play a key role in everything from life insurance to casualty and property insurance, putting technology at the core of nearly every insurance business. The software has become a… […]

During a discussion about helping flood victims, Cocke County Mayor Rob Mathis and Commissioner Dan Bright expressed frustrations with each other. She said it was her understanding there were 70 applicants for Federal Emergency Management Agency assistance and 129 properties with loans that were covered by the National Flood Insurance Program that…

That's because the state's Department of Insurance doesn't collect the information, which advocates say is critical to getting a handle on what parts of Texas have the most immediate need for relief. Texas did participate but declined to request new information from insurers, including ZIP code-level data about where providers don't renew existing…

Thirteen U.S. property/casualty companies became impaired in 2023, 10 of which were placed into insolvent liquidation, according to an AM Best report. These 13 insurance company impairments identified in the U.S. property/casualty industry in 2023 follow six in 2022. A commercial multi-peril writer, primarily in California, that was impacted by adverse…

S-3ASR Table of Contents As filed with the Securities and Exchange Commission on January 31, 2025. THE SECURITIES ACT OF 1933. Approximate date of commencement of proposed sale to the public: From time to time after the effective date of this Registration Statement.

That was the message from insurance as well as state and federal emergency officials Thursday as they briefed state lawmakers five months after the fatal flooding in the Naugatuck Valley and southwestern Connecticut that caused about $300 million in damage, much of which was not covered by flood insurance. During a two-hour forum on the issue with members of…

NCDOI announced its settlement with the N.C. Rate Bureau, a firm that represents homeowners insurance companies across the state, in a Jan. 17 press release. In January 2024, the N.C. Rate Bureau proposed an average 42.2% statewide increase to take effect that year. With the legal settlement, the N.C. Rate Bureau has agreed to instead raise the statewide average of…

James Keating was sentenced to 20 months in prison on Tuesday after pleading guilty to defrauding his former employer Allied World Insurance of more than $1.4 million between 2017 and 2021.. Keating, 52, of Paoli, Pennsylvania, was an assis- tant vice president and surety bond claims handler at Allied World when he used a shell company to bill the company for“…

Expected claims payments to Los Angeles County wildfire victims appear to have exceeded $900 million for the state's insurers of the last resort, allowing it to tap into "reinsurance" payments from back-up providers. In earlier statements, the FAIR Plan said it can only tap into reinsurance– essentially insurance for insurance companies– once it pays its first…

Expected claims payments to Los Angeles County wildfire victims appear to have exceeded $900 million for the state "s insurer of last resort, allowing it to tap into“ re-insurance” payments from back-up providers. In earlier statements, the FAIR Plan said it can only tap into re-insurance- essentially insurance for insurance companies- once it pays its first…

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…

THE HARTFORD FINANCIAL SERVICES GROUP, INC.. Hartford Fire Insurance Company ratings are on positive outlook at Standard and Poor's and Moody's and on stable outlook at A.M. Best Hartford Life and Accident Insurance Company ratings are on positive outlook at Standard and Poor's and on stable outlook at A.M. Best and Moody's Navigators Insurance Company…

LOS ANGELES, Jan. 30, 2025/ PRNewswire-PRWeb/– As winter approaches, drivers face potential challenges like icy roads, freezing temperatures and reduced visibility. Mercury Insurance has compiled a list of essential winter car maintenance tips to help drivers navigate the season with confidence. "Winter weather brings unique hazards that can impact your…

We have come to an agreement with North Carolina homeowners’ insurance companies regarding a rate case that’ s been going on for more than a year. ment with the North Carolina Rate Bureau which is not a part of the Department of Insurance and represents homeowners’ insurance companies conducting business in North Carolina. The agreement provides for an average…

“Roofs are through-the-roof expensive,” said Paulet, owner of Rosemount’ s Insurance by Design, an independent agency, pointing to price tags climbing between $20,000 and $40,000.“ But that never, ever was the intention of homeowner insurance.”. In 2023, a single storm swept the Twin Cities and central Minnesota, leaving behind roughly $1 billion in claimed losses.

It should be read in conjunction with the documents that the Company files with the Securities and Exchange Commission pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934.. AXIS Capital Holdings Limited's underwriting operations are organized around its global underwriting platforms, AXIS Insurance and AXIS Re.

Intent to purchase travel insurance among Gen Z rose by 24% from 2023 to 2024. Gen Z was the only consumer segment surveyed that reported an increase in travel spend YOY, spending an average of more than $11,000 per trip in 2024. Gen Z is increasingly looking to destinations in South Asia as some of the preferred places to visit. 55% of Gen Z use social media as a key…

At 19 years old, Nadia Guillen is trying to get a second job to pay for her car insurance. Currently, Guillen pays around $280 a month for insurance on her 2005 Hyundai Tuscon with provider Mendota, which she says is her biggest expense. According to Insurify, Nevada has the No. 7 highest auto insurance rates in the country, with the cost expected to rise to over $3,000…