homeowners insurance News

Homeowners Insurtech Openly Expands Into Tennessee

Openly Inc., an insurtech backed by Gradient Ventures, Google’s AI-focused venture fund, has gone live in Tennessee. The addition of Tennessee comes on the heels of the company’s launch and funding announcement in late 2019, along with a recent expansion …

Delaware Court Says Insurance Doesn’t Cover Attacker in School Fight

Delaware’s Supreme Court has overturned a judge’s ruling that an insurance company must extend liability coverage to a teenager who was convicted of criminally negligent homicide after a school bathroom attack that left a 16-year-old girl dead. Wednesday’s ruling reverses …

Branch Launches in Missouri, Offering Home, Auto Insurance

Columbus, Ohio-based Branch has launched statewide in Missouri, offering home and auto insurance. Branch said using technology and automation it has developed a way to bundle home and auto insurance with just two questions, name and address. Now customers can …

California Department of Insurance Issues Revised Plan of Operation for FAIR Plan

Editor’s note: This story has been updated with comments from a FAIR Plan official. The battle between the California Department of Insurance and the FAIR Plan will continue to rage on in the wake of two severe wildfire seasons. The …

As California Thins Forests to Limit Wildfire Risk, Some Resist

Buzzing chainsaws are interrupted by the frequent crash of breaking branches as crews fell towering trees and clear tangled brush in the densely forested Santa Cruz Mountains south of San Francisco. Their goal: To protect communities such as Redwood Estates, …

FedNat Completes Acquisition of 1347 Property Insurance Homeowners Operations

FedNat Holding Company (FNHC), an insurance holding company, has completed its acquisition of the homeowners insurance operations of 1347 Property Insurance Holdings, Inc. (PIH), consisting of Maison Insurance Co., Maison Managers, Inc., and ClaimCor LLC (collectively, Maison), in a cash …

Up-Market Home Insurtech Openly Opens for Business in 2 States After Raising $7.6M

The tech-enabled high-end home insurance provider Openly announced it has begun selling in Illinois and Arizona at the same time it announced a $7.65M seed round of funding led by Gradient Ventures, Google’s AI-focused venture fund. Openly’s first product is …

California Commissioner Issues Emergency Notice to Expedite Wildfire Claims

California Insurance Commissioner Ricardo Lara on Wednesday issued an emergency notice to all property/casualty insurers doing business in California requesting they expedite claims handling for wildfire survivors to help them begin the recovery and rebuilding process more quickly. “I have …

A.M. Best Says Insurers Challenged by ‘New Normal’ of California Wildfires

While the number of burned acres in 2019 is still well below the number reported last year through October, experts predict the greatest fire potential will occur from now through December as the Santa Ana winds pick up, A.M. Best …

Another $550M in Properties at Immediate Risk in 3 California Blazes, Report Shows

A catastrophe modeler released figures on Wednesday showing how costly ongoing California blazes could potentially be as blustery winds make for increasingly dangerous fire risk up and down the state. Damages from the fires burning across California stand at $25.4 …