Markets
NY Proposes Plan to Stabilize Broken Taxi Insurance Market
New York Governor Kathy Hochul proposed measures to stabilize the city's taxi and rideshare insurance industry, which is reeling from the insolvency of its largest provider American Transit Insurance ...
Treasury’s FIO Releases ‘Flawed’ Homeowners Insurance Report, Industry Says
The U.S. Treasury's Federal Insurance Office last week released what it called the "most comprehensive data on homeowners insurance in history." Weeks after a U.S. Senate committee released a study ...
The Latest LA Wildfire Loss Estimates: Verisk’s Range Is $28B-$35B
The Extreme Event Solutions group at Verisk has estimated that insured industry losses to property for the Palisades and Eaton fires together will fall between $28 billion and $35 billion. Verisk's ...
FEMA Transfers $758M in U.S. Flood Program Risk to 27 Private Reinsurers
The Federal Emergency Management Agency (FEMA) said its reinsurance renewal for the National Flood Insurance Program (NFIP) included the transfer of nearly $758 million to the private market through ...
Mercury General Gives Reinsurance Update: One or Two Events Still TBD
Mercury General provided updated information about its reinsurance program yesterday, reporting that whether losses from the Palisades and Eaton wildfires burning in California will be treated as one ...
Moody’s RMS Adds to LA Fires Insured Loss Estimates With Range of $20B-$30B
A day after risk modeler CoreLogic put out a statement indicating a $35 to $45 billion range of insured losses for two major fires in California, Moody's RMS has published a lower range for five ...
Smoke, Coverage Issues Cloud Wildfire Forecast: $35-$45B Losses Insured
CoreLogic announced a preliminary range of insured loss estimates for the Eaton and Palisades Fires in Los Angeles, Calif., of $35 to $45 billion, but there are a lot of factors that could change the ...
As Climate Drives Rising Costs, Hawaii Lawmakers Vow to Stabilize Property Insurance Market
Hawaii lawmakers began a new legislative session Wednesday with a vow to try to stabilize the state's property insurance market as hurricanes, wildfires and other climate change-influenced disasters ...