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Update: Fannie Mae Guidelines Raise Concerns, Could Bar ACV Coverage for Homes
May 7 2024 // An updated guideline from Fannie Mae, if it stands, could throw a wrench into the property-casualty insurance industry’s move toward actual cash value for more homeowners and condo coverage. A Fannie Mae spokesperson...
Berkshire’s ‘Most Important’ Biz Drives Q1 Results; GEICO Still Behind on Tech
May 6 2024 // Berkshire Hathaway continued to deliver eye-popping results for its insurance and reinsurance operations during the first quarter of 2024, with underwriting profits for personal auto insurer GEICO and reinsurance...
Florida Saw Jump in Workers’ Comp Cost per Claim in 2022-23, WCRI Report Shows
May 6 2024 // Call it the effects of wage creep during the pandemic, along with a little bit of creep in the duration of benefits. Employers and insurers in Florida saw a 7% increase in total cost per workers’ compensation claim...
Business Moves
May 6 2024 // National Strategic Risk Solutions, Garnet Captive Insurance Services Strategic Risk Solutions (SRS) reported it has agreed to acquire Garnet Captive Insurance Services, a Philadelphia, Pennsylvania, firm that partners with...
Florida’s Heritage Insurance Sees More Profits in Q1 This Year
May 3 2024 // Heritage Insurance Holdings Inc. (HRTG) on Wednesday reported earnings of $14.2 million in its first quarter of this year, about the same as earnings for Q1 of 2023, but down from the $31 million in net income reported for...
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