Insurance Journal

NOVEMBER 3, 2024

Washington Insurance Commissioner Mike Kreidler has proposed modifying the state’s recently adopted premium change transparency rule. The proposal is specific to Phase 2 of the rule (the automatic inclusion of reasons for premium increases in policy renewals). It moves the …

Premium 246

Premium Policy Insurance Insurer 246

Property Insurance Coverage Law

AUGUST 20, 2024

Citizens Property Insurance rates are going up. An article in the Miami Times, Citizens Looks to Hike Insurance Rates 14%, explains one reason why the rates are rising even more: The insurer of last resort in Florida isn’t meant to be competitive.

Property Insurance 142

Property Insurance Premium Insured Insurance 142

Insurance Journal

SEPTEMBER 1, 2024

Florida authorities in August arrested a well-known southwest Florida insurance agent, charging him with larceny and embezzlement of premiums. Reid McDaniel, 33, who was named the honorary mayor of North Fort Myers last year but who also was facing a …

Insurance Agents 243

Insurance Agents Insurance Agent Premium Agents 243

Insurance Journal

NOVEMBER 13, 2024

A North Carolina insurance agent who was penalized by regulators almost 20 years ago has given up her producer license after she was charged with pocketing insurance premiums. Lori Ann Crisp, 56, of Kannapolis, was charged with forgery, embezzlement and …

Insurance Agents 246

Insurance Agents Insurance Agent Agents License 246

Property Insurance Coverage Law

AUGUST 25, 2024

Some of you may have noticed that I am in Boston based upon the post, The Boston Insurance Library. I was invited to a CEO Summit at Harvard this weekend, and the CEOs all had this question: “What is up with our insurance premiums? Insurance premiums are up for everyone. Can we cut the costs?”

Premium 144

Premium Property Insurance Insured Insurance 144

Insurance Journal

SEPTEMBER 9, 2024

A businessman in south Georgia who called his business a tax preparation site for immigrants is now facing multiple charges that he swindled clients out of thousands of dollars in workers’ compensation insurance premiums. Emmanuel Torres Cruz, 34, was arrested …

Workers Comp 263

Workers Comp Premium Compensation Workers Compensation 263

Insurance Journal

NOVEMBER 4, 2024

The National Flood Insurance Program will soon start to accept monthly payments for flood insurance premiums, ending 55 years of requiring full payment upon application or renewal. The Federal Emergency Management Agency(FEMA), administrator of the NFIP, said the change was …

Premium 279

Premium Insured Insurance Insurer 279

Insurance Journal

JULY 31, 2024

Written premium for the first quarter of 2024 was 3% lower than the first quarter of 2023, while written premium in 2023 was slightly above 2022, according to the Workers’ Compensation Insurance Rating Bureau of California. The WCIRB released its …

Premium 276

Premium Workers Comp Compensation Workers Compensation 276

Insurance Journal

OCTOBER 10, 2024

A former insurance broker has pleaded guilty to a number of charges including insurance fraud for collecting premiums without placing coverage. Karen Marie Dondanville, 56, a former broker from Mission Viejo, pleaded guilty to 90 counts including grand theft auto, …

Theft 264

Theft Premium Agents Insurance Broker 264

Insurance Journal

NOVEMBER 17, 2024

By Chad Hemenway The National Flood Insurance Program will soon start to accept monthly payments for flood insurance premiums, ending 55 years of requiring full payment upon application or renewal. The Federal Emergency Management Agency (FEMA), administrator of the NFIP, …

Premium 189

Premium Insured Insurance Insurer 189

Insurance Journal

SEPTEMBER 25, 2024

Millions of Americans have been watching with growing alarm as their homeowners insurance premiums rise and their coverage shrinks. Nationwide, premiums rose 34% between 2017 and 2023, and they continued to rise in 2024 across much of the country. To …

Home Insurance 331

Home Insurance Premium Insured Insurance 331

Insurance Journal

OCTOBER 23, 2024

Australia’s corporate regulator is taking QBE to court, alleging that the country’s biggest insurer by gross written premiums misled more than half a million customers about discounts on various products during a five-year period. The Australian Securities and Investments Commission …

Premium 278

Premium Insured Insurance Insurer 278

Insurance Journal

AUGUST 14, 2024

British insurer Aviva beat first-half profit expectations following a rise in general insurance premiums in Britain and Ireland, and said on Wednesday it remained confident of meeting its 2026 targets. The life and general insurer, whose main businesses are in …

Premium 278

Premium Insured Insurance Insurer 278

Insurance Marine News

OCTOBER 23, 2024

Join Us The post Marine insurance premiums up by nearly 6% in 2023: IUMI stats report appeared first on Insurance Marine News. You need to be logged in to view this content. Please Log In. Not a Member?

Premium 100

Premium Marine Insured Insurance 100

Insurance Journal

OCTOBER 24, 2024

Louisiana Senator Bill Cassidy released a report Thursday critical of the National Flood Insurance Program’s adoption of Risk Rating 2.0. The report, “The Flood Insurance Crisis: A Comprehensive Breakdown of Rising Flood Insurance Premiums,” found that the average flood insurance …

Premium 264

Premium Insured Insurer Insurance 264

Insurance Journal

JULY 12, 2024

California Insurance Commissioner Ricardo Lara today issued a decreased pure premium rate for workers’ compensation insurance, lowering the annual benchmark rate from $1.41 per $100 of payroll— representing a 2.1% percent decrease from last year. The advisory rate …

Workers Comp 290

Workers Comp Premium Compensation Insured 290

Leadsurance

NOVEMBER 19, 2024

How to Reduce Home Insurance Premiums without Compromising on Coverage Home insurance is many people’s key protector; it provides one with the needed cover once loss or damage occurs. The good news is that one can reduce home insurance premiums without necessarily sacrificing the cover that you get.

Home Insurance 52

Home Insurance Premium Deductible Insured 52

Insurance Journal

JULY 12, 2024

Allstate is seeking an increase in its California homeowners insurance premiums by an average of 34%. According to the California Department of Insurance, the Allstate homeowners filing was received by the Department on April 14, 2023. The initial rate request …

Premium 321

Premium Insured Insurance Insurer 321

Insurance Journal

NOVEMBER 13, 2024

commercial auto insurance segment sustained a $5 billion net loss in 2023, a new AM Best reports indicates further deterioration in the first half of 2024. Despite targeted underwriting initiatives, including raising premiums to match the rising … After the U.S.

Auto Insurance 245

Auto Insurance Commercial Underwriter Underwriting 245

Insurance Journal

AUGUST 28, 2024

Americans are seeking to change their insurance coverage more frequently than in the past, after a surge in premiums that’s squeezed household budgets, a new industry report shows. For car insurance, so-called policy shopping rates — essentially the share of …

Premium 306

Premium Insured Insurance Insurer 306

Insurance Journal

NOVEMBER 17, 2024

billion to help cover insurers’ losses in Hurricanes Helene and Milton. But that won’t trigger a surcharge on premiums. Florida’s Hurricane Catastrophe Fund, a state-created layer of reinsurance, expects to pay out about $4.6 And a number of Florida property …

Premium 147

Premium Insured Insurance Insurer 147

Insurance Journal

SEPTEMBER 11, 2024

An academic paper published in the Journal of Insurance Regulation seems to have rekindled the debate over how much of an impact litigation and fraud have had on property insurance losses and premiums, particularly in Florida. The paper, “The Case …

Property Insurance 290

Property Insurance Premium Insured Insurance 290

Insurance Journal

AUGUST 29, 2024

South Africa-based general insurer Santam Ltd. plans to expand in Asia to diversify its premiums and counter tepid growth at home. The insurer, a subsidiary of financial services group Sanlam Ltd., generates 82% of its premiums in South Africa. “We …

Premium 249

Premium Insured Insurance Insurer 249

Insurance Journal

JULY 17, 2024

Then came the letter from her condo association announcing a 300% increase in insurance premiums, … Jillian Anderson was planning to make fighting crime in Waikiki the top issue in her campaign for a seat in the Hawaii House of Representatives.

Premium 147

Premium Crime Insurer Insured 147

Insurance Journal

SEPTEMBER 22, 2024

Consumers are hearing a lot about insurance difficulties around the country. The news from California and Florida about how disasters, skyrocketing premiums and carrier withdrawals are making coverages hard to find and afford naturally raises concerns in other states. New …

Premium 279

Premium Insured Insurance Insurer 279

Insurance Journal

OCTOBER 23, 2024

home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions. The ninth annual LexisNexis U.S. Home Trends Report found that all-perils …

Premium 321

Premium Home Insurance Insurance Industry Risk 321

Insurance Journal

AUGUST 16, 2024

Florida authorities have arrested a well-known southwest Florida insurance agent, charging him with larceny and embezzlement of premiums. Reid McDaniel, 33, who was named the honorary mayor of North Fort Myers last year but who also was facing a negligence …

Insurance Agents 290

Insurance Agents Insurance Agent Agents Premium 290

Insurance Journal

NOVEMBER 17, 2024

home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions. The ninth annual LexisNexis U.S. Home Trends Report found that all-perils …

Premium 240

Premium Home Insurance Insurance Industry Risk 240

Insurance Journal

NOVEMBER 1, 2024

billion to help cover insurers’ losses in Hurricanes Helene and Milton. But that won’t trigger a surcharge on premiums. Florida’s Hurricane Catastrophe Fund, a state-created layer of reinsurance, expects to pay out about $4.6 And a number of Florida property …

Premium 246

Premium Insured Insurer Insurance 246

TGS

OCTOBER 25, 2024

TGS Insurance » Blog Top Reasons Your Home Insurance Premium Might Increase [2024] Owning a home is often a dream come true, but when that dreaded notice arrives in the mail—informing you that your home insurance premium has gone up—it can feel more like a nightmare.

Home Insurance 52

Home Insurance Premium Out-Of-Pocket Insured 52

Insurance Journal

AUGUST 26, 2024

Home insurance is becoming unaffordable for a growing number of Australian households as increased climate threats drive up their premiums, potentially putting billions of dollars in mortgage loans at risk, a report said on Monday. As of March 2024, 15% …

Risk 272

Risk Home Insurance Premium Insured 272

Insurance Journal

AUGUST 29, 2024

property/casualty insurance industry recorded a net underwriting gain of $3.7 “After years of consistent losses, premium growth is helping the overall … billion and net income of $94.6 billion for the first-half of 2024, according to a new report.

Insurance Industry 278

Insurance Industry Underwriter Underwriting Casualty Insurance 278

Insurance Journal

JULY 22, 2024

The Pennsylvania Insurance Department (PID) reported that it has saved consumers $98.3 million in annual auto, home and other property/casualty insurance premiums in the first six months of 2024 through its review of insurance company rate filings. The vast majority …

Casualty Insurance 276

Casualty Insurance Premium Insurance Companies Insured 276

Insurance Journal

JULY 25, 2024

Houston residents could see a greater discount on their federal flood insurance premiums as soon as next spring after the Houston City Council on Tuesday approved a watershed master plan expected to improve the city’s class rating in FEMA’s National …

Premium 290

Premium Insured Insurance Insurer 290

Insurance Journal

AUGUST 8, 2024

British insurer Beazley upgraded its combined ratio forecast for 2024 on Thursday after first-half pretax profit nearly doubled, boosted by growth in its property risks premiums and fewer catastrophe losses, sending its shares up 10%. The insurer, which commands about …

Premium 260

Premium Insured Insurer Insurance 260

TGS

OCTOBER 3, 2024

TGS Insurance » Blog 10 Factors That Affect Homeowners Insurance Premiums in Florida When it comes to homeowners insurance premiums, several factors come into play, and understanding them can be the key to managing your costs. Coverage Limits The amount of coverage you choose directly affects your premium.

Premium 52

Premium Deductible Out-Of-Pocket Insured 52

Elmore

OCTOBER 19, 2024

Insurers are attempting to stem persistent losses on their underwriting The post Home insurance premiums to keep rising in ‘difficult year’ appeared first on Elmore Insurance Brokers.

Home Insurance 52

Home Insurance Premium Insurance Broker Underwriting 52