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California OKs Increase in FAIR Plan Commercial Property Coverage Limits

Insurance Journal

California Insurance Commissioner Ricardo Lara approved a filing from the California FAIR Plan Association to increase commercial property coverage limits. Related: New Fire Maps Put Nearly 4M Californians in Hazardous Zones The approval increases the FAIR Plan’s Division I Commercial

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Global Commercial Insurance Rates Drop in Q4 for 2nd Consecutive Quarter: Marsh

Insurance Journal

Global commercial insurance rates fell 2% in the fourth quarter of 2024 following a 1% decline in Q3 2024 marking the second consecutive quarterly decrease following seven years of rising rates, according to the Global Insurance Market Index published …

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Pirates Invade Tampa! Is an Invasion Covered Under a Commercial Insurance Policy?

Property Insurance Coverage Law

Is an Invasion Covered Under a Commercial Insurance Policy? where I gave a short explanation of the day: Tampas Mayor refused to hand over the keys to the city on Tuesday to … The post Pirates Invade Tampa! appeared first on Property Insurance Coverage Law Blog.

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Landlords Face a $1.5 Trillion Commercial Real Estate Maturity Wall

Insurance Journal

Landlords for offices, apartment complexes and other commercial real estate have $1.5 trillion of debt due by the end of next year, and about a quarter of that borrowing could be hard to refinance, according to Jones Lang LaSalle Inc.

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People Moves: Beazley Taps Generali’s Foucher as Head of Commercial Property, Europe; BMS Re Appoints Hughes and Bartell From Howden Re for Non-Marine Reinsurance

Insurance Journal

Beazley Taps Generali’s Foucher as Head of Commercial Property, Europe Beazley, the London-based specialty insurer, announced the appointment of … This edition of International People Moves details appointments at Beazley and BMS Re. A summary of these new hires follows here.

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Marsh: US Commercial Insurance Rates Up 3% on Hikes in Casualty

Insurance Journal

Commercial insurance rates during the third quarter in the U.S. According to Marsh’s Global Insurance Market Index — which noted the first decline in global commercial rates since the third quarter 2017 — … increased 3%, with casualty rates up 10%.

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Hub Acquires Pennsylvania Commercial Lines Agency IMC

Insurance Journal

Located in Erie, Pennsylvania, IMC provides commercial insurance and risk management services to commercial, industrial, institutional and construction risks, with offerings that complement Hub’s existing specialty …