Personal Lines
Global Natural Disasters Cost Insurers $34B in H1 2022: Munich Re
Global natural disasters during the first half of 2022 cost insurers about $34 billion, which covered a little more than half of the overall $65 billion in losses from floods, earthquakes and storms ...
Florida Regulators Unveil Ratings Crisis Solution: Let Citizens Reinsure Carriers
Florida's insurance commissioner announced Wednesday that his office has found an "unprecedented solution" to the looming property insurer rating crisis — let Citizens Property Insurance Corp. ...
Overdue or Overboard? Florida Divided on Demotech’s Planned Downgrades
The property insurance community has divided into two camps after the firestorm that erupted over the potential financial rating downgrades for 17 Florida insurance carriers. One camp argues that the ...
Natural Disasters Cost Insurers $39B During H1 2022, 18% More Than Average: Aon
Insured losses from global natural disaster events were estimated at $39 billion during the first half of 2022, 18 percent higher than the 21st century average of $33 billion, driven by persistent ...
FEMA Report: Flood Insurance Hikes Will Drive 1 Million From Market
When questioned by members of Congress, the Federal Emergency Management Agency said its new update to the nation's flood insurance program will prompt more people to sign up for coverage, even ...
Florida Regulators, FAIA Slam Demotech for Reported Plans to Downgrade 17 Carriers
Florida's top insurance regulators and the Florida Association of Insurance Agents on Thursday blasted the Demotech financial rating firm after the organization reportedly notified 17 insurers that ...
Opposing Stories from Insurers, Consumer Groups On Smoke Damage
Insurers and consumer advocates are conveying conflicting messages as both try to focus public attention on smoke damage claims. Mercury Insurance issued a press release Friday warning that an ...
Wildfire Victims, Environmental Groups to Developers: Stop Building
Preston Brown knows the risk of wildfire that comes with living in the rural, chaparral-lined hills of San Diego County. He's lived there for 21 years and evacuated twice. That's why he fiercely ...