Property and Casualty News

—Hawaii lawmakers began a new legislative session Wednesday with a vow to try to stabilize the state's property insurance market as hurricanes, wildfires and other climate change-influenced disasters at home and elsewhere prompt insurance carriers to raise rates.. Hurricanes in Florida and North Carolina and wildfires in California affect the insurance…

A bill meant to help stabilize California’ s troubled insurance market has key early support as wildfires continue to cause devastation in and around Los Angeles. The measure, introduced by Democratic Assembly members Lisa Calderon and David Alvarez, provides a financial backup plan for the state’ s insurer of last resort in the event that it doesn’ t have enough…

In the wake of an event like the California wildfires, insurance companies are often demonized. Hurricane Andrew, a devastating Category 5 hurricane that hit southern Florida in 1992, caused insured losses of over $72 billion and drove eight insurers to insolvency. They were mostly state insurers that only operated in Florida and as a result were overly…

Cyber incidents such as data breaches or ransomware attacks, and IT disruptions, like the CrowdStrike incident, are the biggest worry for companies globally in 2025, according to the Allianz Risk Barometer.

Tampa General Hospital– Crystal River. Wollinka Wikle Title Insurance Agency. YMCA of the Suncoast– Citrus County Branch.

Rainbow, the digitally-enabled managing general underwriter building tailored small business insurance products, has announced raising $8 million in Series A funding, led by Zigg Capital. This insurance program is currently live in 24 states, and will see expansion into additional states including New York over the coming months. “As our firm refined its…

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…

With the California fires, consumer advocates have redoubled their atacks on the "greedy" insurance companies. California congressman John Garamende said from his eight-year experience as insurance commissioner that the insurance companies will "' lowball' and deny claims." Carmen Balber, executive director of Consumer Watchdog, adds that home insurers in…

The“ it” in this scenario is liquor liability insurance, and it’ s a topic that has increasingly been on the tongues of bar, restaurant and venue owners across South Carolina in recent years, as rates for the insurance have continued to climb. In the law’ s wake, restaurateurs say some insurers have left the market in South Carolina in the last several years, thereby…

Jan. 11— The devastating wildfires in California have brought reports that insurers had recently dropped the policies covering thousands of Los Angeles area homes to the forefront. According to Aaron VanTuyl, a public affairs manager at the Washington State Office of the Insurance Commissioner, Washington hasn't seen a similar mass cancellation of…

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…

The fires ravaging upmarket Los Angeles districts Pacific Palisades and Malibu will be the most expensive ever to hit California, according to experts, who expect premiums to rise in a region already abandoned by many insurers. Analysts at JPMorgan estimated that the total cost of damage and insured damage had doubled in less than 24 hours to $50 billion and…

Senate Bill 58, sponsored by State Senators Terry Johnson and Theresa Gavarone, prohibits requiring fees or firearms liability insurance for the possession of firearms, or fees for the possession of knives, and to enact the Second Amendment Financial Privacy Act. Senate Bill 158, sponsored by State Senator Jerry Cirino, adds a judge to the Adams County Court…

KBRA releases research assessing the impact of the Los Angeles wildfires on the California insurance market. Over the last several days, the Los Angeles area has experienced unprecedented wildfire activity, with multiple outbreaks across the region. The Los Angeles wildfires are expected to be a major catastrophe event for the insurance industry.

As filed with the Securities and Exchange Commission on January 10, 2025.. 1 Linkong Er Road, Shunyi District, Beijing. William S. Rosenstadt, Esq. Mengyi "Jason" Ye, Esq. Ortoli Rosenstadt LLP 366 Madison Avenue, 3 rd Floor New York, NY 10017 212-588-0022.

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…

The Fifth District Court of Appeal in Daytona Beach ruled that a "direction to pay" by a policyholder does not by itself represent an "assignment of benefits", upholding Senate Bill 2- A from 2023.. The bill's goal was to avoid third parties suing insurers just to make a profit— a practice that's been common in Florida over the past decades. According to a report by…

While we were merrily distracted, tens of thousands of Florida homeowners received letters bumping them into high-risk flood zones. The Federal Emergency Management Agency released its widely anticipated new flood risk maps on Dec. 20, and unsuspecting residents learned that they may now be required to buy flood insurance. In Palm Beach County alone, more…