Beyond the immediate costs of recovery efforts and infrastructure repair, the collapse raises crucial questions about public liability and the broader economic implications for Baltimore.
The tragic collapse of the Francis Scott Key Bridge Tuesday morning will eventually trigger insurance claims that will likely cost billions, AM Best said.
Roberts Lee, president of Meadors, Adams& Lee Insurance Inc., urged lawmakers to make a decision soon during its presentation to the Arkansas Legislative Council's executive subcommittee. Most school districts in the state are insured either through a program managed by the Arkansas School Boards Association or a separate program managed by the state…
Apartment building insurance has gone up 20 percent every year for the last two years. "Insurance is skyrocketing, umbrella insurance, all types of insurance is skyrocketing," said John Simone, managing director at Brownstone Agency. "And that is due to a lot of reinsurance problems that are going on right now.
The city of Fernandina Beach participates in FEMA's National Flood Insurance Program, which provides flood insurance access to property owners, renters and businesses of participating communities. The new rating is based on the efforts of city staff and its Program for Public Information Committee members, including realtors, insurance agents, mortgage…
Beyond the immediate costs of recovery efforts and infrastructure repair, the collapse raises crucial questions about public liability and the broader economic implications for Baltimore.
The Department of Insurance wants companies to be able to raise their prices for home and auto policies more quickly in the state. “As currently drafted we do not believe there’ s anything in these proposed regulations that is helpful in addressing the insurance market crisis,” said Seren Taylor, a lobbyist with the Personal Insurance Federation of California.“…
The tragic collapse of the Francis Scott Key Bridge Tuesday morning will eventually trigger insurance claims that will likely cost billions, AM Best said.
Ron DeSantis, the chairman of the U.S. Senate Budget Committee has ratcheted up a request for financial information about Florida's Citizens Property Insurance Corp.. "The bottom line is that, according to Florida's own governor, Citizens faces a major solvency crisis and would be unable to pay out all claims and expenses should a major storm hit Florida,"…
—Florida insurance companies made money last year for the first time in seven years, thanks to investment income and a mild hurricane season, according to an analysis conducted by S&P Global Market Intelligence. The group excluded state-backed Citizens Property Insurance Corp., which is the insurer of last resort for Florida homeowners unable to get a policy…
State Farm is scheduled to argue for a partial summary judgment Thursday before a federal judge in Illinois as it defends another class-action lawsuit over vehicle loss assessments.
As home insurers flee California, the state's last-resort insurance plan is warning that it's being pushed toward insolvency, forced to cover a rapidly growing number of properties that have lost traditional coverage and unable to collect enough in premiums to cover potential losses. The number of homes and commercial properties in high-risk wildfire…
Mar. 24— Question: Is the state aware of the soaring insurance premiums condominiums in Hawaii are facing? Question: Is the state aware of the soaring insurance premiums condominiums in Hawaii are facing? There are only three or four companies that underwrite master policies in Hawaii.
Florida is not alone when it comes to property insurance. One in 13 homeowners across the U.S. are uninsured, according to a recent study by the Consumer Federation of America. A growing number of homeowners in and out of Florida simply can't afford insurance.
State Farm, California "s largest insurer, announced that it will discontinue coverage for 72,000 homes and apartments starting this summer, a move likely to sharply inflate housing costs for affected residents in a state that" s reeling from a series of destructive recent wildfires. The Illinois- based insurance giant, which accounts for a fifth of the…
In early January, just a couple weeks before his winery’ s insurance was set to end, Eric Hays received an email from his broker. He opened it while at the modest business, called Chateau Davell, a few miles east of Placerville. That is not a given for properties in the Sierra Nevada foothills, much of which is considered at high risk for wildfires.
"Nebraska is pretty exemplary of the region," said Chase Gardner, Insurify's head of data research. "The typical U.S. homeowners are going to pay something like $1,800 for an insurance policy and residents in Nebraska are paying over $3,500 on average." "I've been in this industry for 33 years and I have never seen it as challenged as it is right now," said Mark Walz,…
According to a press release from the Santa Rosa Island Authority, Pensacola Beach has retained its Class 5 rating in the National Flood Insurance Program's Community Rating System. The Federal Emergency Management Agency's website states that communities can be eligible for flood insurance discounts depending on how many points they receive.
Sheldon Whitehouse says that the president of Citizens Property Insurance Corp., Florida "s state-owned" insurer of last resort, "has" failed to cooperate with "an investigation that Whitehouse announced in November. The letter, the release said, "follows new comments from Florida Gov. Citizens has tripled in size as Florida has experienced an insurance crisis.