Industry News
NOAA: High Tide Flooding Continues Breaking Records
Eight coastal communities along the East and West coasts reported record high tide flooding last year — a trend expected to continue in 2024, according to the National Oceanic and Atmospheric ...
NAIC to Collect Insurer Data to Understand Property Market Gaps
The National Association of Insurance Commissioners said at its Summer National Meeting that it plans to collect data from insurers in order to help insurance regulators better understand property ...
Not Your Grandpa’s Hard Reinsurance Market; Profits Return, Discipline Stays
The current property-catastrophe reinsurance market is one of the hardest in decades—and very different from previous ones, a new AM Best report notes, also predicting that underwriting discipline ...
Severe Weather Set to Boost U.S. Disaster Funding Needs, FEMA Says
Growing extreme-weather risks mean President Joe Biden's expected request for billions in extra disaster-relief funding might not be enough for the next fiscal year, FEMA head Deanne Criswell said. ...
Nationwide Tops J.D. Power Small Commercial List; Satisfaction Hits All-Time High
Despite rising interest rates and less than desirable business conditions, small business insurance consumers are increasing satisfied with the products and services offered by their insurance ...
Wright Launches New Residential Private Flood Insurance Option
FocusFlood, Wright National Flood Insurance Services' latest product and an extension of its ResiFlood program was announced today. Available in Florida, Texas, New Jersey, South Carolina and ...
Claims Pros Warned About Confirmation Bias and Inflated Line Items
GARDEN GROVE, California—The charred remains of a dog found among the ruins of a house that was destroyed in a sudden fire added an air of legitimacy to the insurance claim. For sure, homeowners ...
More Auto Parts Delays? U.S. Scrutinizing China Supply Chains
Electric vehicle batteries and other car parts are the latest products under scrutiny as part of Washington's effort to stamp out U.S. links to forced labor in Chinese supply chains, according to a ...