News
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 ...
Rapid Response Effort Initiated to Respond to Fraud After Wildfires
As wildfires continue to burn in Southern California, the state has ramped up fraud investigations to keep up with an uptick in crimes. Insurance Commissioner Ricardo Lara and Los Angeles County ...
Almost 50% of Insurance Consumers Okay With AI Weather Monitoring: Survey
A new survey highlights the rise in consumer acceptance when it comes to AI adoption in the property/casualty industry, as well as the ongoing frustration of rising insurance premiums. Cloud-based ...
Many Reasons Behind Certain Homes Left Standing After Wildfires
Emails and videos of burned buildings in Los Angeles next to those left standing have been flying back and forth among architects, builders and fire safety specialists around the world. For many ...
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 ...
Study Shows Some Buildings Along Miami Coastline Are Sinking
A study published last month revealed that 35 buildings along a Florida coastline are experiencing subsidence, a process where the ground sinks or settles, according to researchers at the University ...
P/C Insurance Market Profitability Expected to Continue Through 2026
A new industry report indicates the U.S. property/casualty (P/C) market in 2024 is forecast to have continued its trajectory of improving underwriting results, according to the Insurance Information ...
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 ...