Insurance Journal

JANUARY 22, 2025

Treasury’s Federal Insurance Office last week released what it called the “most comprehensive data on homeowners insurance in history.” ” Weeks after a U.S. Senate committee released a study and held a hearing on the affect of climate change …

Insurer 277

Insurer Insured Insurance Casualty Insurance 277

Insurance Journal

JANUARY 15, 2025

California Insurance Commissioner Ricardo Lara expanded emergency insurance protections for Southern California homeowners, adding new ZIP Codes to those already under a mandatory one-year moratorium on insurance non-renewals and cancellations. The expanded order shields those within the perimeters or adjoining …

Insurer 317

Insurer Insured Insurance Protection 317

Insurance Journal

JANUARY 9, 2025

history, draining insurance coffers and threatening California’s massive state-sponsored insurance program. Losses from the fires “could push insurance markets over the … The conflagrations tearing across Los Angeles are on track to be among the most expensive wildfire disasters in U.S.

Insurer 317

Insurer Insured Insurance Property Insurance 317

Insurance Journal

JANUARY 24, 2025

The impact of the historic Los Angeles-area wildfires is being broadly examined and continually refined, with updates almost daily on insured losses, total economic losses damages, credit ratingsand lately worrying outlooks for the effect of the fires on insurance rates.

Damage 290

Damage Insurer Insured Insurance 290

Insurance Journal

FEBRUARY 14, 2025

California Insurance Commissioner Ricardo Lara did not approve an emergency, interim 22% rate request from State Farm, instead calling a meeting with the carrier to get some answers about the carrier’s financial situation and more. State Farm General earlier this …

Insurer 278

Insurer Insured Insurance 278

Insurance Journal

JANUARY 14, 2025

Polo Insurance Managers (PIM), the Guernsey based insurance manager business within the PoloWorks group, announced the launch of Clockwork Re a newly established Category 4 Commercial General Reinsurer in Guernsey. Clockwork Re has been formed to access superior insurance …

Commercial 274

Commercial Insurer Insured Insurance 274

Insurance Journal

FEBRUARY 10, 2025

A pilot program in China that allows insurers to buy gold for the first time could free up billions of dollars of investment in the metal, adding further impetus to a record-setting rally. Ten insurance … Prices hit a fresh peak.

Insurer 285

Insurer Insured Insurance 285

Insurance Journal

JANUARY 9, 2025

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 clearerlikely pushing up billion-dollar-plus insured loss estimates put forth from fires …

Damage 325

Damage Insurer Insured Insurance 325

Insurance Journal

FEBRUARY 7, 2025

Crest Insurance announced the acquisition Horizon Insurance Services, a full-service insurance agency based in Houston, Texas. The move marks Crest’s 20th office nationwide and its second in the state of Texas. With the addition of the Houston office, Crest continues …

Insurance Agency 245

Insurance Agency Insurer Insured Insurance 245

Insurance Journal

JANUARY 14, 2025

Wildfires that have ravaged swaths of Los Angeles could result in losses of as much as $30 billion for the insurance industry as the blazes rage on almost a week after they ignited. The new estimates from Wells Fargo & …

Insurance Industry 328

Insurance Industry Insurer Insured Insurance 328

Insurance Journal

JANUARY 8, 2025

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 industry watchers say will be sizable insured losses. With the …

Insurer 317

Insurer Insured Insurance Damage 317

Insurance Journal

JANUARY 23, 2025

Moody’s Ratings said in a report on Thursday that it expects the Los Angeles wildfires to increase property insurance costs across California. According to Moody’s, the state’s already noticeable insurance pricing and availability challenges are likely to intensify, with negative …

Property Insurance 264

Property Insurance Insurer Insured Insurance 264

Insurance Journal

FEBRUARY 5, 2025

A King County, Washington, judge issued a bench warrant a former Seattle insurance agent charged with stealing more than $400,000 in premiums from his clients. Edward Hadley was charged with nine counts of first-degree theft following investigations by the Washington …

Premium 263

Premium Insurance Agents Insurance Agent Agents 263

Insurance Journal

FEBRUARY 17, 2025

Embedded insurance is no longer just an emerging trend; it’s becoming a central strategy for retailers and non-insurance brands looking to enhance customer experience, drive loyalty, and generate new revenue streams. With global gross written premiums in embedded insurance projected …

Risk 200

Risk Insurer Insured Insurance 200

Insurance Journal

FEBRUARY 13, 2025

Insurance companies have so far paid out more than $6.9 billion for losses from the biggest two of the Los Angeles-area wildfires that swept through the region and destroyed tens of thousands of homes last month. That’s according to the …

Insurance Companies 273

Insurance Companies Insurer Insured Insurance 273

Insurance Journal

JANUARY 26, 2025

A federal jury last week convicted a Maryland man for conspiracy to commit insurance fraud, money laundering, filing false tax returns and identity theft, according to the office of U.S. Attorney for the district of Maryland. According to court documents …

Theft 261

Theft Insurer Insured Insurance 261

Insurance Journal

JANUARY 22, 2025

While the Los Angeles wildfires inch closer toward containment, estimates of insured losses continue to creep higher. CoreLogic said the industry price tag of the Palisades and Eaton fires could land between $35 billion and $45 billion. Moody’s RMS, in …

Insurer 263

Insurer Insured Insurance Building 263

Insurance Journal

JANUARY 27, 2025

New York City is walking back a proposed rule change that would have required taxi and rideshare drivers to be covered by a “solvent and responsible” insurance carrier, after Uber Technologies Inc. warned the mandate risked leaving thousands of drivers …

Insurance Carrier 257

Insurance Carrier Insurer Insured Insurance 257

Insurance Journal

JANUARY 10, 2025

Insurers are facing significant losses from the catastrophic Los Angeles wildfires — given the high value of homes and businesses in the affected communities. However, those losses are likely to be manageable for both insurers and their reinsurers, with preliminary …

Insurer 328

Insurer Insured Insurance 328

Insurance Journal

JANUARY 13, 2025

As more policyholders with Florida’s Citizens Property Insurance are statutorily required to purchase flood insurance, another insurance rate-quoting service has gotten in on the act. Officials with HoneyQuote.com announced Monday that the firm has started offering flood insurance quotes from …

Policyholder 279

Policyholder Insurance Quotes Property Insurance Insurer 279

Insurance Journal

JANUARY 21, 2025

While the Los Angeles wildfires inch closer toward containment, estimates of insured losses continue to creep higher. CoreLogic said the industry price tag of the Palisades and Eaton fires could land between $35 billion and $45 billion. Moody’s RMS, in …

Insurer 279

Insurer Insured Insurance 279

Insurance Journal

JANUARY 21, 2025

New York Governor Kathy Hochul proposed measures to stabilize the city’s taxi and rideshare insurance industry, which is reeling from the insolvency of its largest provider American Transit Insurance Co. Two of the bills would make it easier to adjust …

Insurance Industry 278

Insurance Industry Insurer Insured Insurance 278

Insurance Journal

JANUARY 22, 2025

India widened backing for Russian insurers as the largest buyer of Moscow’s seaborne crude strives to keep discounted barrels flowing, after the US imposed fresh sanctions earlier this month. As well as extending approvals for some sanctioned providers, India’s Directorate …

Insurer 263

Insurer Insured Insurance 263

Insurance Journal

FEBRUARY 10, 2025

Nationwide’s Casey Kempton has a vision to bring positive vibes back to engagements between personal lines insurers and their customersand it starts with understanding the “mental models” that homeowners and drivers reference to understand insurance. Kempton, who has been president …

Insurer 233

Insurer Insured Insurance Insurance Industry 233

Insurance Journal

FEBRUARY 4, 2025

The growing adoption of data-driven underwriting and predictive analytics has given delegated underwriting authority enterprises (DUAEs) a competitive advantage within the insurance industry, with technology serving as a cornerstone for many of these operations. An AM Best survey of its …

Underwriter 275

Underwriter Underwriting Insurance Industry Insurer 275

Insurance Journal

FEBRUARY 6, 2025

Georgia’s governor has asked state lawmakers for $175 million to cover the growing costs of liability claims against state agencies and employees, as the state’s liability insurance fund has dwindled to a fraction of the outstanding costs. The Atlanta Journal-Constitution …

Liability 279

Liability Liability Insurance Claim Insurer 279

Insurance Journal

JANUARY 26, 2025

Howard 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 economic losses from natural …

Insurer 290

Insurer Insured Insurance 290

Insurance Journal

FEBRUARY 4, 2025

Orion180 announced that its FLEX Home Insurance product is now available in Texas. Orion180 said that FLEX is designed to address the diverse needs of Texas homeowners, including those in high-risk areas prone to natural disasters like tornadoes and hailstorms.

Home Insurance 234

Home Insurance Insurer Insured Insurance 234

Insurance Journal

FEBRUARY 5, 2025

A Charlotte man has been arrested on a felony charge of insurance fraud for allegedly falsely claiming to an insurer that his car was hit by a deer, according to North Carolina Insurance Commissioner Mike Causey. Causey’s Department of Insurance’s …

Claim 231

Claim Insurer Insured Insurance 231

Insurance Journal

JANUARY 2, 2025

Verisk said on Thursday it will be the first modeler to request a review of its wildfire catastrophe model under a reform pushed by California Insurance Commissioner Ricardo Lara. The reform allows catastrophe models to be used by insurance carriers …

Insurance Carrier 290

Insurance Carrier Insurer Insured Insurance 290

Insurance Journal

JANUARY 16, 2025

Intense competition among cyber insurance carriers has resulted in higher limits, enhanced cyber risk management services, flexibility in insurance … While 2024 brought record-breaking data-breach costs and evolving cyber risk, all signs point to stable rates and ample capacity in 2025.

Cyber 264

Cyber Risk Insurance Carrier Insurer 264

Insurance Journal

JANUARY 20, 2025

While the Los Angeles wildfires inch closer toward containment, estimates of insured losses continue to creep higher. CoreLogic said the industry price tag of the Palisades and Eaton fires could land between $35 billion and $45 billion. Moody’s RMS, in …

Insurer 264

Insurer Insured Insurance 264

Insurance Journal

FEBRUARY 2, 2025

Brian Kemp on Thursday reiterated his simple pitch for lawsuit limits: They’ll halt rising insurance costs. Changes could reduce liability insurance costs for businesses and commercial property owners. Georgia Gov. The reality, though, is more complicated. The evidence is mixed …

Commercial Property 252

Commercial Property Liability Insurance Liability Commercial 252

Insurance Journal

JANUARY 8, 2025

There is a risk crisis affecting the insurance industry. Hurricanes Helene and Milton left a trail of tens of billions of dollars of destruction across the southeastern United States. These latest storms have shown that no region is safe from …

Insurance Industry 278

Insurance Industry Insurer Insured Insurance 278

Insurance Journal

JANUARY 22, 2025

New estimates peg insured losses to property from the Palisades and Eaton fires in Los Angels together will fall between $28 billion and $35 billion, which includes losses to the California FAIR Plan. The estimates out on Wednesday from the …

Insurer 264

Insurer Insured Insurance Damage 264

Insurance Journal

JANUARY 14, 2025

Insurance Journal is searching for the nation’s leading independent agents and producers to become part of Insurance Journal’s Agents of the Year listing to be published … Are you a top agent/producer? Do you know someone at your agency who is?

Agents 264

Agents Insurer Insured Insurance 264

Insurance Journal

JANUARY 13, 2025

A federal judge last week tripled the damages that Alex Murdaugh’s co-conspirator must pay to Nautilus Insurance Co., million plus significant attorney fees incurred by the insurer. bringing the total to $3.75 A jury last week found Cory Fleming, …

Damage 264

Damage Insurer Insured Insurance 264