The topic of nuclear verdicts took center stage at this year’s Target Markets Annual Summit in Scottsdale, Arizona, where a panel of carriers and reinsurers discussed rising settlement costs amidst an uncertain litigation environment. Panelists representing Lloyd’s, Markel, MunichRe and …
Louisiana Senator Bill Cassidy released a report Thursday critical of the National Flood Insurance Program’s adoption of Risk Rating 2.0. The report, “The Flood Insurance Crisis: A Comprehensive Breakdown of Rising Flood Insurance Premiums,” found that the average flood insurance …
Texas Insurance Commissioner Cassie Brown issued an order this week disapproving Texas Windstorm Insurance Association’s proposed 10% increase to property and commercial rates. The Department Department of Insurance said in an Oct. 14 order that the rate filing met the …
On an early August morning, a roofing contractor arrived at a Lafayette, Louisiana couple’s house and requested permission to inspect the home’s roof. The roofer’s arrival wasn’t unexpected. The couple, who go by Jordan and Sarah, had been approached days …
More than a quarter million U.S. properties have repeated claims for federal flood insurance, costing the National Flood Insurance Program billions of dollars in claims, according to new federal data compiled by the National Resources Defense Council. Four states account …
Earlier this year CoVerica Insurance rolled out an employee-owned stock program, giving the agency’s staff an opportunity to become part-owners of the organization. That decision to become an employee-owned company gave CoVerica members an opportunity to buy into the company’s …
Safeco Insurance, a Boston-based Liberty Mutual Insurance company, said it has entered into a book transfer agreement with Columbia Insurance Group, a Central and Midwest regional carrier. Under the agreement, mutual insurer Columbia will transfer its entire personal auto and …
When Iowa mutual GuideOne Insurance began assessing ways to add an infusion of capital to strengthen its balance sheet, the company went to the usual places a mutual of its size might turn to for financial backing. “We were working …
The U.S. property/casualty mutual segment has leaned on investment income to maintain strong overall financial performance and grow surplus in the face of underwriting volatility and severe weather-related activity, according to an AM Best report. To combat underwriting losses and …
More than a quarter million U.S. properties have repeated claims for federal flood insurance, costing the National Flood Insurance Program billions of dollars in claims, according to new federal data compiled by the National Resources Defense Council. Four states account …
