Tracy Barber moved to Pawleys Island six years ago for its community appeal and coastal charm. He now pays $2,650 a year in private flood insurance, although he hasn’ t had any flooding issues or claims. He switched agencies this year to avoid a jump to a $3,350 premium, but he’ s still shoveling out more than last year.
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Sasha Renée Pérez, D- Alhambra, said of the bill before it died in the Senate Insurance Committee. Seren Taylor, a lobbyist for the Personal Insurance Federation of California, an industry trade group, called the measure a“ direct threat to insurance solvency” because it would force companies to take on much more risk without requiring that their rates be high…
Hundreds of thousands of properties in Hawaii do not currently qualify for flood insurance, the report noted, and many remain uninsured or underinsured despite these growing environmental risks. Hawaii farmers, for instance, do not qualify for federal crop insurance since it is only available to large-scale, single-crop farms more commonly found on the U.S….
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of The Tokio Marine and Nichido Fire Insurance Company Limited. The outlook of these Credit Ratings is stable. The ratings also consider support from its parent, Tokio Marine& Nichido Fire Insurance Co., Ltd., which is the main insurance operating entity of Tokio…
AM Best has assigned a Financial Strength Rating of B+ and a Long-Term Issuer Credit Rating of“ bbb-” to Ocean Marine Indemnity Company. OMI is a Louisiana- domiciled ocean marine insurer that writes hull& machinery and protection& indemnity coverage for commercial maritime operators, primarily in Louisiana and the Gulf Coast. The company derives substantially…
Heightened killings by terrorists across Nigeria has made it imperative for the federal government to have a re-think on insurers' request for collaboration to provide terrorism insurance cover for Nigerians writes Ebere Nwoji. But Nigeria and some other countries were less concerned about what to do to prevent that from happening or to cover the damages…
Bar and restaurant owners would not have to carry a $1 million liquor liability insurance policy for one year under a proposal approved by the state Senate on Wednesday. The Senate during its annual budge debate voted to suspend the liquor liability law that passed last year in an effort to help bars stay open. The compromise between the House and Senate last…
Insurance Commissioner Mike Causey today announced that the N.C. Department of Insurance has settled a dwelling rate case with North Carolina insurance companies. The N.C. Rate Bureau, which is not a part of the N.C. Department of Insurance and represents property and casualty insurance companies writing premiums in North Carolina, had requested a statewide…
The Tennessee Department of Commerce& Insurance announced new guidelines for insurance carriers when using aerial imagery, including drone photography, when inspecting consumers' properties. "Our team is aware of incidents in other states where homeowners' insurance policies were not renewed or cancelled as a result of the use of aerial photography," said…
Alliant Insurance Services announces a series of strategic leadership appointments within its Property& Casualty operation: Bob Bennetsen has been named Senior Managing Director, National Sales& Recruitment, and John Harney will serve as Head of Alliant Americas. Additionally, Michael Cusack was recently appointed as President, Alliant P&C.
Alliant Insurance Services announces Michael J. Cusack has been appointed President, Alliant Property& Casualty. Cusack previously served as head of Alliant Specialty, responsible for overseeing 16 industry verticals and expanding Alliant’ s specialty business across the U.S. In his new leadership position, Cusack will manage the firm’ s $2.3 billion P&C…
The rise of deductible insurance
Why the next innovation will make coverage work again.
Governor Kathy Hochul today joined the New York Farm Bureau, Northeast Dairy Producers and farmers from Upstate to highlight her proposals to bring down auto insurance rates and tackle fraudulent claims across New York State. Additionally, Governor Hochul proposed $30 million in her FY27 Budget for direct "tariff relief" for New York farmers to offset…
At State Farm Insurance Agent Kathy Powell's office on Opelika Road in Auburn, the approach centers on adapting coverage to fit real life, not forcing customers into rigid policy boxes. Whether someone just moved to Lee County and needs car insurance Auburn residents trust, or a small business owner requires commercial insurance Alabama regulations demand,…
Using AI to elevate people, products and decisioning
Adopting agentic AI should be a top priority for any industry player serious about long-term success.
MSI™ today announced the launch of its canine liability insurance solution, a standalone product designed for residential landlords and property managers. Pet ownership in the United States continues to rise, increasing demand for pet-friendly rental housing while also heightening liability concerns for landlords. "Landlords want to welcome dog-owning…
Insurity, a leading provider of cloud-based software and analytics for property and casualty insurers, today released findings from its 2026 AI in Insurance Report, revealing a sharp shift in consumer support for artificial intelligence in P&C insurance compared to the prior year. New findings from Insurity’ s 2026 AI in Insurance Report show that 84% of…
Homeowners and renters insurance typically only covers jewelry in the case of theft inside the home and often caps payouts at $1,000-$2,500, which may not cover the full value of a luxury piece such as an engagement ring. BriteCo's October 2025 survey of more than 1,000 U.S. homeowners found that a large majority are opting to rely solely on homeowners…
With Connecticut ranking among the more expensive housing markets in the country on a price-per-square-foot basis, it follows that homeowners face a hefty insurance bill each year to guard against the unexpected. While storm-prone states like Florida are notoriously costly, where you own a home in Connecticut— especially along the coast— can still mean…
New York City Mayor Zohran Mamdani on Thursday announced a new insurance program that looks to reduce the cost of property and liability insurance for affordable housing and rent-stabilized housing. An inter-agency working group comprised of the New York City Economic Development Corporation, Housing Development Corporation and Housing Preservation…
