Property and Casualty News

American International Group, Inc. announced that effective immediately Jon Hancock will take on additional responsibilities as it organizes its business…

Florida Insurance Commissioner Mike Yaworsky announced another property and casualty insurer approved to enter Florida—marking over 10 insurers entering the…

NC Insurance Commissioner Mike Causey announced that the N.C. Department of Insurance has ended its legal dispute with insurance companies about their proposed homeowners’ insurance rate increase filed in January 2024. The proposed rate increase presented by the insurance companies for Macon, Jackson, Clay and Cherokee counties was 8.2 percent over the…

Scott Wiener, D- San Francisco, in an effort to address California’ s home insurance crisis. California is at the forefront of climate change, grappling with increasingly severe and unpredictable weather disasters. A series of atmospheric rivers last year caused $4.5 billion in destruction across Northern California, according to the National Oceanic and…

January 22, 2025, 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…

Despite growing pains, there are early indications that insuring family pets is evolving into a meaningful niche business line for the U.S. inland marine insurance segment, according to a new AM Best report. While specific full-year results on pet insurance won’ t be available until March 2025, data available through the third quarter of 2024 indicates that the…

January 22, 2025, 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…

Carteret County homeowners need to prepare for sticker shock as they assess the anticipated rising cost of insurance and taxes that will begin in March with the arrival of new property valuations and again in June as new insurance rates become effective. Last week Carteret County homeowners received a warning for yet another financial hit with the…

LAUGHLIN— Struggles property owners throughout the Tri-state area are experiencing in finding fire insurance coverage have been brought to the forefront by the massive destruction caused over the past two weeks by the Southern California wildfires, which have displaced hundreds of thousands of people, destroyed an estimated 18,000 structures and…

Several lawmakers have also indicated their own plans to address the issue, as New Mexico has recorded its two largest wildfires in state history in the last three years— both in 2022.. It would function similarly to the state Workers' Compensation Administration, with initial state subsidies required to establish adequate funding reserves, Lujan Grisham…

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…