Senate Says Climate Is Causing Insurance ‘Crisis’; Industry Strikes Back December 19, 2024 By Chad Hemenway The U.S. Senate Budget Committee on Wednesday held a hearing to release a study they said confirms climate change is...
Millions of Homeowners May Be Underinsured Due to Secondary Structures: ZestyAI December 18, 2024 Millions of U.S. homes are underinsured, not because of any added value in the homes, but because additional structures on...
Advocacy Groups Ask FIO to Release Homeowners Insurance Data Collected by NAIC December 17, 2024 By Chad Hemenway A coalition of consumer, environmental, and fair housing groups have called upon the Treasury’s Federal Insurance Office to release homeowners...
Oregon Lawmakers OK $218M in Emergency Wildfire Funding December 17, 2024 By Claire Rush Oregon lawmakers approved $218 million in emergency wildfire funds during special session that was convened to address unpaid bills stemming...
International, Domestic Insurers Push Into Catastrophe-Hit US Property Markets December 16, 2024 By Carolyn Cohn and Noor Zainab Hussain International and domestic insurers are pushing into the U.S. market for hard-to-protect homes, charging high premiums and enjoying strong profits...
California Commissioner Announces Regulation to Enable the Use of Modeling in Rates December 13, 2024 California Insurance Commissioner Ricardo Lara on Friday announced what he’s calling “first of its kind” catastrophe modeling and ratemaking regulation...
Firefighters Getting Handle on California Blaze That Threatened Malibu December 13, 2024 Firefighters are getting a better handle on a California wildfire that was threatening the city of Malibu as the winds...
Malibu Firefighters Make Gains on Blaze as Wind Warnings Persist December 11, 2024 By Lauren Rosenthal and John Gittelsohn Firefighters made some gains containing a raging wildfire that threatens Malibu, California, even as the burn area doubled in size...
Farmers Now Eyeing California Favorably and Will Expand Its Coverage Options December 11, 2024 Farmers Insurance said on Wednesday it will resume offering coverage for multiple lines of insurance in California to new customers....
Malibu Fire Explodes in Size, Forces Thousands to Evacuate December 10, 2024 A Southern California wildfire whipped by “particularly dangerous” winds destroyed homes, shut schools and spurred the evacuation of thousands of...