Property and Casualty News

Property-and-casualty insurer Travelers is expecting a significant financial impact from the devastating wildfires this month in Los Angeles County, while executives indicated Wednesday that the company born in Hartford plans to continue providing homeowners' coverage in California. "The California wildfires that began earlier this month are going…

For the last several weeks, Saiki has served as a special assistant with the Department of Commerce and Consumer Affairs, which has a mandate to protect Hawaii consumers. Saiki's 30 years of experience in the House includes seven years as speaker, when he worked with the rest of the state Legislature and Hawaii's governors, navigated property insurance…

NORTHWEST FLORIDA— Gene Valentino is a name familiar to many in Escambia County where he once served on the county commission. The 71- year-old Pensacolan is now running for Congress. Valentino said in District 1, he will work to acquire Amtrak service, expand the Port of Pensacola, handle the homeowners' insurance crisis and promote economic development.

SPEARFISH— The city of Spearfish participates in the Federal Emergency Management Agency' s Community Rating System; on Tuesday the council approved the recertification of Spearfish's CRS 9 rating. By participating in CRS, the city earns a 5 percent discount on the National Flod Insurance offered by FEMA. "Any resident can get flood insurance… they do not have to…

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. I recently signed a settlement 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.

Todd Jackson, the chairman of the Independent Insurance Agents and Brokers of America, discusses likely scenarios for home and auto insurance in 2025.. Q: Consumers have seen premiums for homeowners and auto insurance rise sharply in recent years.What’ s behind the increases? A: There are several factors.

As wildfires are once again top of mind to many Californians, Senate Republicans are reflecting on past efforts to try to tackle this issue. Over the past two decades, Senate Republicans have worked to lower the risk of wildfires in California, to try to prevent the inevitable tragedies like what is now consuming vast swaths of Los Angeles County.

We consider this settlement a big win for both homeowners and North Carolina. " In addition, the agreement prohibits the N.C. Rate Bureau from undertaking an effort to increase rates again before June 1, 2027, ensuring stability in premiums for the next several years. "North Carolina homeowners will save approximately $777 million in insurance premiums over the…

Cooper and her husband are retired, have high credit scores, and have cement siding on their waterfront home in Lakebay, she told The News Tribune. Pierce County has its own share of areas where wildfires have occurred or could occur, The News Tribune reported, and KING 5 reported in August 2024 that there was a spike in insurance companies dropping Washington…

Jan. 22— Property-and-casualty insurer Travelers is expecting a significant financial impact from the devastating wildfires this month in Los Angeles County, while executives indicated Wednesday that the company born in Hartford plans to continue providing homeowners' coverage in California. Several of the company's top executives gave an initial…

TALLAHASSEE— Proposed rate increases that could have taken effect Jan. 1 for customers of the state's Citizens Property Insurance Corp. remain unresolved— with any hikes now unlikely to hit customers' bills for months. The Florida Office of Insurance Regulation has not ruled on the proposal, which the Citizens Board of Governors approved in June.

January’ s Best’ s Review includes the following exclusive rankings:. World’ s Largest Insurance Companies– 2025 Edition Ranked by 2023 net nonbanking assets. Ranked by 2023 net premiums written. Top 25 US Holding Companies– 2025 Edition Ranked by 2023 total assets. Ranked by 2023 total revenue. Top Global Brokers– 2025 Edition Top 25 US Property/Casualty Companies–…

For the last several weeks, Saiki has served as a special assistant with the Department of Commerce and Consumer Affairs, which has a mandate to protect Hawaii consumers. Saiki’ s 30 years of experience in the House includes seven years as speaker, when he worked with the rest of the state Legislature and Hawaii’ s governors, navigated property insurance…

Parting ways with the Eighth Circuit’ s frequently-cited opinion denying coverage for institutions that negligently fail to prevent sexual abuse, a Minnesota state trial court has denied a motion for summary judgment by the United States Fire Insurance Company seeking to avoid coverage for stipulated judgments obtained by nine survivors of the former…

According to the report, through the first nine months of 2024, the U.S. property/casualty industry reported significantly improved direct underwriting results, driven by increased earned premiums, which have outpaced the rise in incurred loss and loss adjustment expenses, and other underwriting expenses. “Despite four hurricanes making landfall in the…

The devastating wildfires in Los Angeles have made one threat very clear: Climate change is undermining the insurance systems American homeowners rely on to protect themselves from catastrophes. This breakdown is starting to become painfully clear as families and communities struggle to rebuild. But the scale and intensity of the Southern California…

Leading Food Business Insurer Releases Second Annual Analysis of Market Trends and Statistics of the Food-Related Small-business Industry. NEW YORK, NY- January 23, 2025- Food Liability Insurance Program, a national insurance program designed for small to mid-sized operators in the food industry, released today its second annual "Food& Beverage Industry…

Texas Attorney General Ken Paxton is suing Allstate and its data analytics subsidiary, Arity, for allegedly violating the state's data and privacy security act by illegally collecting driver data from more than 45 million Americans. It also alleges Allstate bought driver data from Toyota, Lexus, Mazda, Chrysler, Dodge, Fiat, Jeep, Maserati, and Ram.

Jan. 23— President Donald J. Trump's pick to lead housing development intends to lean into the Opportunity Zones program created in Trump's first term, which dangled big tax incentives for developers and saw mixed results in Connecticut. "Connecticut is just stuck in a rut," a ranking Republican said. Video game retailer GameStop suddenly closes at least five…