Do you have fire or flood insurance for your home or business? In parts of California, fire insurance is no longer available. In Florida, insurance companies are closing up shop completely because of repeated and overwhelming hurricane costs.
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Milliman, Inc., the premier global consulting and actuarial firm, is providing auto insurers with access to CARFAX Vehicle Risk Scores as part of its Appleseed product. “We are leveraging Appleseed’ s state approval and distribution networks to get CARFAX Vehicle Risk Scores to market more quickly,” said Dan Hill, National Insurance Director for CARFAX.“ For…
The Blue Cross- Blue Shield insurer said it was dealing with a“ timing mismatch” between Medicaid rates and higher claims from its customers. The company dropped its forecast for 2024 adjusted earnings to approximately $33 per share after predicting at least $37.20 in July. Wall Street expects $37.25 per share, according to the data firm FactSet.
Strong third quarter net income of $1.260 billion and core income of $1.218 billion. Consolidated combined ratio improved 7.8 points from the prior year quarter to a strong 93.2%. Catastrophe losses of $939 million pre-tax, compared to $850 million pre-tax in the prior year quarter. Substantial net favorable prior year reserve development of $126 million…
The Travelers Companies, Inc. today reported net income of $1.260 billion, or $5.42 per diluted share, for the quarter ended September 30, 2024, compared to $404 million, or $1.74 per diluted share, in the prior year quarter. Core income in the current quarter was $1.218 billion, or $5.24 per diluted share, compared to $454 million, or $1.95 per diluted share, in the…
One of the things that we’ re seeing is the energy content that these systems can retain is significantly greater than it used to be,” said John Dickson, president of Aon Edge Insurance Agency, which specializes in flood coverage.“ The weather seems to be, in many cases, moving faster than we as a society are able to keep pace with it.”. In the last 45 years, and adjusted for…
Inszone Insurance Services, a rapidly growing national provider of commercial, personal, and benefits insurance, is pleased to announce its acquisition of MG Insurance Services, a well-established agency with a deep history in personal lines and contractor insurance. Founded in May 1988 by Michael Gondoli, MG Insurance Services began as a non-standard auto…
With some studies finding that home insurance rates have ballooned 44% in Montana over the past five years, the affordability and availability of insurance have become cornerstone issues in the state auditor election. Brown, a graduate of Beaverhead County High School in Dillon who maintains a law practice in Helena, highlights his rural Montana roots, small…
When a homeowner in Southwest Colorado types their address into an insurance company's quote generator, it's not uncommon to receive a notification that the insurer will not write a policy for that address. "Wildfire risk models are the bane of my existence right now– one of the banes of my existence right now," Colorado Insurance Commissioner Michael Conway…
Texas' chief insurance regulator has shot down a proposed 10% insurance rate hike for many Gulf Coast home and business owners. Texas Insurance Commissioner Cassie Brown on Monday rejected the increase for residential and business policyholders sought by the Texas Windstorm Insurance Association, the state's insurer of last resort for homes and…
Texas rejects insurance rate increase for coastal homeowners, businesses. Texas Insurance Commissioner Cassie Brown on Monday rejected the increase for residential and business policyholders sought by the Texas Windstorm Insurance Association, the state's insurer of last resort for homes and businesses on the Gulf Coast. Homeowners' insurance rates in…
Proposed Flood Hazard Determinations for Johnson County, Iowa and Incorporated Areas. The Department of Homeland Security's Federal Emergency Management Agency has issued a preliminary Flood Insurance Rate Map, and where applicable, Flood Insurance Study report, reflecting proposed flood hazard determinations within Johnson County, Iowa and…
Oct. 15— This November, Washington will elect a new insurance commissioner for the first time in more than 20 years. Patty Kuderer, D- Bellevue, and Sen. Phil Fortunato, R- Auburn, both said there are limitations to the office— many of the changes each would like to make to insurance practices in Washington would have to pass the state Legislature.
PEMBROKE, Bermuda—- Arch Capital Group Ltd. today announced it held a private memorial event to honor and celebrate the life of former CEO Dinos Iordanou on Oct. 14 in New York City. “Dinos was full of life, always generous and an inspirational role model,” said Nicolas Papadopoulo, CEO, President and Chief Underwriting Officer of Arch Capital Group Ltd.“ We were…
BOSTON, Oct. 15, 2024/ PRNewswire-PRWeb/– Bindable, a leading provider of insurance distribution technology and services, has announced today a new partnership with best-in-class pet insurance provider, Pets Best Insurance Services, LLC. According to the American Veterinary Medical Association, 62 million US households own at least one dog, while 37 million…
Allied Property and Casualty has filed court papers in U.S. District Court for the Southern District of Iowa, seeking a declaratory judgment that will determine what coverage, if any, should be afforded Carson Steffen of North Liberty under the terms of his family's insurance policy. She sued Steffen and Jacob Meloan, alleging the two sexually assaulted her and…
Over the past year, Embroker, the digital insurance company radically simplifying the insurance buying experience for businesses, has made significant strides in this mission, with new leadership appointments and introducing new AI-powered features to its ONE platform. The company has also expanded its vertical reach, including new comprehensive,…
AM Best and Fitch Ratings each issued reports last week warning that Milton could stretch liquidity of Florida- based insurers that are primarily focused on protecting in-state homeowners. "Hurricane Milton poses a significant threat to the Florida property insurers concentrated in the state that lack diversification and therefore are acutely…
To best support customers impacted by Hurricane Milton, GEICO insurance adjusters and support staff will be on-site at four insurance villages hosted by the Florida Department of Financial Services:. Starting Monday, Oct. 14– Bradenton, Fla.: 101 12th Street West Starting Tuesday, Oct. 15– Clearwater, Fla.: 1501 North Belcher Road Starting Tuesday, Oct. 15– Lakeland, Fla.:…
Houston, TX- El Dorado Insurance Agency, a leader in providing tailored insurance for high-risk industries, has issued a critical advisory to security guard firms nationwide about the risks of insufficient general liability insurance. El Dorado Insurance highlights that many general insurers may shy away from covering security firms due to the perceived…
