A September 8 U.S. Senate Banking, Housing and Urban Affairs Committee hearing on current issues in insurance included useful discussion on some of the industry’s most pressing concerns. Comments from the committee’s members and from one witness, Maryland Insurance Commissioner …

On June 23, the U.S. Senate Banking, Housing, and Urban Affairs committee held a hearing to discuss legislative proposals to reform the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP). There were 17 proposals included in FEMA’s 104-page …

Florida’s homeowners insurance market is in a perilous, precarious position. Florida has not been struck by a hurricane since 2018, yet there have been seven Florida insurer insolvencies in the recent hurricane-free years, including three so far this year. Hurricane …

If the Florida homeowners’ insurance market were in a medical exam, the diagnosis would find the patient in dangerously poor condition. The patient’s vital signs—its financial results—are troubling. What is more, there are multiple co-morbidities. The welter of symptoms collectively …

Any major event or upheaval that affects the economy, the environment, technology, health or law somehow touches insurance. War is no exception. The repercussions of Russia’s unprovoked military invasion of Ukraine are already being felt in numerous corners of the …

The insurance industry is far from the economy’s most-admired sector. A Forbes survey found insurance ranking low in popularity in the public eye. Three main reasons are responsible for insurers’ relatively poor rating. First is the intangible nature of the …

Trial attorneys are on the move. Having won a victory in New York on New Year’s Eve, when Gov. Kathy Hochul signed legislation tipping the balance squarely in the plaintiffs’ favor, trial attorneys now have their sights set next door …

Unusual loss trends in 2021 called on the property & casualty insurance industry to play its role as the economy’s financial first responder. A look back at the most extreme loss patterns of 2021 sets the stage for the insurance-related …

A scene in The Wizard of Oz finds Dorothy, the Cowardly Lion and Scarecrow in a poppy meadow with snow coming down. The Cowardly Lion says, “unusual weather we’re having, ain’t it?” If Bert Lahr, who played Lion in the …

The 15 largest publicly-traded property and casualty insurers and reinsurers are all facing similar challenges as the year comes to a close. According to R Street’s review of Q3 2021 earnings calls, the top three difficulties are social inflation, climate …