Industry News
Homeowners’ Unexpected Repairs Doubled in 2024: Hippo
A new report by home insurance group Hippo finds that homeowners in the U.S are more proactive than ever when it comes to protecting their home against damage. The insurer released its third annual ...
P/C Insurers’ Stocks Drop as Los Angeles Wildfire Losses Mount
U.S. property and casualty insurance stocks slid in pre-market trading on Friday on worries over the billions of dollars in potential catastrophe-related claims from the wildfires menacing Los ...
Insured Losses From Los Angeles Wildfires Rising: $8B to $20B
With aerial firefighting returning as strong Southern California winds died down for a bit, damage assessments from a handful of destructive Los Angeles area blazes are sure to become ...
Los Angeles Fires Become Existential Test for California’s Stopgap Insurer
The conflagrations tearing across Los Angeles are on track to be among the most expensive wildfire disasters in U.S. history, draining insurance coffers and threatening California's massive ...
Insured Losses From Natural Disasters Hit $140B in 2024
Insurers saw the third most expensive year for natural catastrophe losses in 2024—reaching a total of $140 billion—as climate change "is showing its claws," according to Munich Re. Overall ...
California Wildfires Will Likely Lead to Large Economic and Insured Losses
Active wind-driven wildfires in Southern California that are estimated to have burned more than 1,000 properties and prompted evacuation orders for more than 80,000 residents will likely lead to what ...
Commercial Property Market Stabilizing, With Ample Capacity: USI
The commercial property market is showing signs of stabilization, and buyers with favorable risk profiles will see rate decreases or low-single-digit increases this year, according to USI Insurance ...
California Wildfires Declared Federal Disaster: FEMA
FEMA announced yesterday that federal disaster assistance is available to the state of California to supplement recovery efforts in the areas affected by wildfires and straight-line winds from Jan. ...