AM Best expects insured losses from the California wildfires to be significant, with more-concentrated individual insurers likely to be more negatively impacted. “California residents have dealt with an increasing variety of severe weather events in recent years such as wildfires, along with a prolonged drought and multiple flooding events caused by…
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My book“ Delay, Deny, Defend: Why Insurance Companies Don’ t Pay Claims and What You Can Do About It” was thrust into the spotlight recently, after UnitedHealthcare CEO Brian Thompson was shot and killed in what authorities say was a targeted attack outside the company’ s annual investors conference. Investigators at the scene found bullet casings inscribed with…
“After this, who knows if I’ m insurable anymore,” Scanlon said while resting beside his house, well within the fire evacuation zone.“ If we can’ t get insurance up here, our property values will plummet, and in California, that’ s our nest egg.”. After years of skyrocketing rates, a deluge of policy cancellations and insurer departures from the California market, some expect…
California property insurers are acting as financial first responders to help their impacted customers recover from the wildfires devastating the metro Los Angeles area, according to the Insurance Information Institute. Please note that California regulations require property insurers to immediately pay policyholders a minimum of one-third of the…
Wildfires rage as insurers weigh risk; Liberty Mutual to reduce coverage
These latest California fires hit at a time when property insurers have been canceling coverage in the Golden State, leaving thousands of property owners at risk.
Members of the 1975 Winter Wonderland Ball Court at Columbus High School were Tammy Dartt, Mary Miller, Debbie Voss, Mary Tobison, Colleen Powers, Pat Daley, Joel Wolfgram, Pat Hickey, Jim Hein, and Phil Jaeger. Ron and Marcella Steindel were made employees of the city of Columbus and would be covered by city liability insurance coverage. Duff Bros. is a family business…
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of South China Insurance Co., Ltd.. The company’ s adjusted capital and surplus, including special reserves provisioned for the non-compulsory auto liability insurance business, expanded by 23% to TWD 8,458 million in 2023. South China Insurance has maintained…
Colo. lawsuit: Does Hertz qualify as an insurer?
A rental car accident spurs the question of whether Hertz qualifies as an insurer. The Colorado Supreme Court is due to take up the case.
Mercury Insurance, a leading provider of property and casualty insurance, announced today that the company will begin writing new homeowners insurance policies in the town of Paradise, California. Mercury is the first major insurance company to begin offering policies to Paradise homeowners since the town was engulfed by the Camp Fire in November 2018.
Everest Group, Ltd., a global underwriting leader providing best-in-class property, casualty and specialty insurance and reinsurance solutions, today announced that Jim Williamson, Executive Vice President and Group Chief Operating Officer, has been named Acting CEO, and accordingly has joined Everest’ s Board of Directors, both with immediate effect.
A high-level overview designed with students, new employees and prospects in mind, the guide furthers the magazine’s mission to inform readers about the workings of the insurance industry, particularly in the United States. “AM Best: Social Inflation, Driver Shortage, Inexperience Compound Commercial Auto Difficulties” analyzes previous years of…
Simplex 3 D, a leading global platform provider for urban planning, announced its expansion into the United States, and a strategic relationship with First American Title Insurance Company, one of the largest title insurers in the nation and the principal subsidiary of First American Financial Corporation. Simplex 3 D offers one of the world’ s…
Filed Pursuant to Rule 424 Registration No. 333-278539 PROSPECTUS SUPPLEMENT $25,000,000 Common Stock ___________________________ We have entered into a sales agreement, or the Sales Agreement, with Janney Montgomery Scott LLC, or the Agent, relating to the sale of shares of our common stock offered by this prospectus supplement and the accompanying…
Two years ago, with insurance costs skyrocketing, Florida legislators called a special session, vowing to provide relief. The Republican lawmakers who control the state had spent years ignoring warnings from industry experts who had begged them to spend serious time on this complicated issue, opting instead to wage culture wars with everyone from Disney to…
—Oregon homeowners who live in certain high-risk wildfire areas defined by the state must now meet new building codes and reduce vegetation around their homes under new“ wildfire hazard maps” unveiled Tuesday. The state-developed maps— which will not affect homeowners’ insurance rates, under Oregon law— create new rules for those living in the most fire-prone…
Innovative City Planning and State Officials' Leadership Pave the Way for Mercury Insurance to Begin Offering Homeowners Coverage to Paradise Residents in the Wake of Catastrophic Wildfire. PARADISE, Calif., Jan. 7, 2025/ PRNewswire-PRWeb/– Mercury Insurance, a leading provider of property and casualty insurance, announced today that the company will begin…
AmTrust Title Insurance Company, a wholly owned subsidiary of AmTrust Financial Services, Inc., today announced the appointment of Steven Presley, Esq., as Florida State Counsel to support AmTrust Title’ s continued expansion in the Florida market. “Steven’ s deep understanding of Florida real estate law and his commitment to agent education and support align…
The Nevada Division of Insurance is proud to announce that its Consumer Services section has recovered a total of $9,400,385.97 for Nevada consumers during Calendar Year 2024. "Their dedication to resolving consumer issues has resulted in recoveries that surpass previous Fiscal Year records, further highlighting the Division's unwavering commitment…
My book "Delay, Deny, Defend: Why Insurance Companies Don't Pay Claims and What You Can Do About It" was thrust into the spotlight recently, after UnitedHealthcare CEO Brian Thompson was shot and killed in what authorities say was a targeted attack outside the company's annual investors conference. Investigators at the scene found bullet casings inscribed with…
A Southern California homeowner is suing Liberty Mutual Insurance Co. for canceling her longstanding insurance policy, accusing the company of dropping her for bogus reasons. In the proposed class-action lawsuit, Maria Badin said she had been a Liberty Mutual customer since 1993, when she bought her home in Poway. "Driven by a desire to maximize profits,…
