Insured - Insurance Industry Brief

Florida OIR Wants More Data, Warns Insurers about Concurrent Causation Denials

Insurance Journal

FEBRUARY 23, 2025

As consumer complaints have apparently mounted over unpaid hurricane losses, Florida’s top insurance regulator and some lawmakers are signaling new scrutiny on insurance carriers’ claims-handling and other practices. Florida Insurance Commissioner Michael Yaworsky late last week posted a memo, demanding …

Insurance Carrier

Insurance Carrier Insurance Insured Insurer

Investigations to Legislation: Florida Lawmakers Weighing Insurance Industry Changes

Insurance Journal

MARCH 5, 2025

Florida legislative leaders, facing increasing pressure from the public and the press, this week pledged to investigate property insurers’ financial structures. And bills filed before the 2025 Legislature began this week also would require executive pay disclosure by carriers, along …

Insurance Industry

Insurance Industry Property Insurance Insurance Insured

Mangrove, Florida’s Newest Home Insurer, Receives Demotech Rating

Insurance Journal

FEBRUARY 3, 2025

Brand new Florida home insurer Mangrove Property Insurance Co. a financial analysis firm that specializes in rating regional and specialty insurers. As previously reported by Insurance Journal, … has received a Financial Stability Rating (FSR) of “A, Exceptional” from Demotech, Inc.,

Home Insurance

Home Insurance Property Insurance Insurance Insured

Treasury’s FIO Releases ‘Flawed’ Homeowners Insurance Report, Industry Says

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 …

Insurance

Insurance Insured Insurer Casualty Insurance

Take the Hassle Out of Claims Management

Advertiser: Trellis

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Claim

After Florida Report, Georgia Senator Wants Investigation into MGAs, Insurer Profits

Insurance Journal

MARCH 19, 2025

Concerns about Florida-based insurance carriers masking profits with the help of affiliated companies has spilled across the border into Georgia, with one state senator calling for an investigation. Nabilah Islam Parkes, D-Duluth, this week sent a letter to Georgia …

Insurance Carrier

Insurance Carrier Insurance Insured Insurer

‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association

Insurance Journal

JANUARY 24, 2025

January 2025 report from the Geneva Association, titled “Insurance in a Fragmented World Economy,” found that geopolitical tensions have driven the global economy toward “geoeconomic fragmentation.” ” Geoeconomics refers to the intersection of geopolitical forces and economic policies.

Insurance

Insurance Insured Insurer Policy

Med-Mal Insurer ProAssurance to Go Private After $1.3B Purchase by The Doctors Co.

Insurance Journal

MARCH 20, 2025

The Doctors Company, the Napa, California-based, physician-owned medical malpractice insurer, announced it has entered an agreement to acquire ProAssurance Corp. billion, taking the company private. Under the terms of the agreement, ProAssurance stockholders will receive $25.00 in cash …

Medical Malpractice Insurance

Medical Malpractice Insurance Insurance Insured Insurer

Why Are California Insurers Putting Their Policyholder Customers at Risk For Their Health?

Property Insurance Coverage Law

MARCH 18, 2025

Seeing firsthand the devastating aftermath and hearing the deeply emotional stories from these homeowners is heartbreakingbut whats even worse is witnessing how some insurance companies continue to compound their customers’ trauma … The post Why Are California Insurers Putting Their Policyholder Customers at Risk For Their Health?

Policyholder

Policyholder Risk Property Insurance Insurance Companies

Viewpoint: Delegated Underwriting Authority Enterprises Offer Insurers Competitive Edge

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

Underwriter Underwriting Insurance Industry Insurance

Selectsys Acquires Expert Insured, with AI for Carriers, MGAs

Insurance Journal

FEBRUARY 27, 2025

Tennessee-based Selectsys, an insurtech specializing in business process outsourcing for insurers, has acquired Expert Insured, an artificial intelligence-led insurance management system for wholesalers, carriers and managing general agents. With headquarters in Boston, Expert Insured also has …

Insurance

Insurance Insured Insurer Agents

Why Shouldn’t Insurance Executives Disclose Their Pay?

Property Insurance Coverage Law

FEBRUARY 20, 2025

A new bill filed in the Florida Senate by Don Gaetz is making waves by proposing that insurance companies disclose the financial relationships of their executives and related entities. It also demands transparency … The post Why Shouldn’t Insurance Executives Disclose Their Pay?

Compensation

Compensation Property Insurance Insurance Insured

Catastrophe Experts Tap AI to Tackle Soaring Insured Losses

Insurance Journal

MARCH 26, 2025

Insurers are betting on a suite of new AI-driven techniques to better predict surging losses from climate-driven weather catastrophes ranging from unprecedented wildfires to hurricanes and floods. Less than three months into the year, natural disasters are already causing major …

Insurance

Insurance Insured Insurer

Florida’s Insurance Scandal: The “Incomplete” Report That Almost Stayed Buried

Property Insurance Coverage Law

MARCH 15, 2025

Floridas homeowners have been paying ever-increasing insurance premiums, but where has all that money been going? A secret state report, which regulators conveniently left unfinished and never shared with lawmakers, might have held the answer.

Premium

Premium Property Insurance Insurance Insured

Mistakes in setting sums insured / declared value where the Insured elects an Indemnity Period of less than 12 months.

Prof. Allan Manning

FEBRUARY 10, 2025

I recall the very first business interruption claim I did was for a risk in Toowoomba and to my horror found that the Insured had only declared 3 months insurable gross profit with a 3-month Indemnity Period. Where a client, sought to insure for less than 12 months they would offer a discount on the premium rate.

Business Interruption

Business Interruption Claim Insurance Insured

Why Shouldn’t Insurance Executives Disclose Their Pay?

Property Insurance Coverage Law

FEBRUARY 20, 2025

A new bill filed in the Florida Senate by Don Gaetz is making waves by proposing that insurance companies disclose the financial relationships of their executives and related entities. It also demands transparency … The post Why Shouldn’t Insurance Executives Disclose Their Pay?

Compensation

Compensation Property Insurance Insurance Insured

Examinations Under Oath in New York Property Insurance Claims

Property Insurance Coverage Law

JANUARY 23, 2025

When navigating contested property insurance claims, insured parties may receive a request from their insurer for an Examination Under Oath (EUO). It is a formal proceeding, not unlike a deposition, where an insured is required to answer questions under oath about their insurance claim.

Property Insurance

Property Insurance Insurance Claim Claim Insurance

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

Insurance Journal

FEBRUARY 5, 2025

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 …

Commercial Insurance

Commercial Insurance Commercial Insurance Insured

Why Are California Insurers Putting Their Policyholder Customers at Risk For Their Health?

Property Insurance Coverage Law

MARCH 18, 2025

Seeing firsthand the devastating aftermath and hearing the deeply emotional stories from these homeowners is heartbreakingbut whats even worse is witnessing how some insurance companies continue to compound their customers’ trauma … The post Why Are California Insurers Putting Their Policyholder Customers at Risk For Their Health?

Policyholder

Policyholder Risk Property Insurance Insurance Companies

China Asks Insurers to Manage Sufficient Capital and Liquidity Buffers

Insurance Journal

FEBRUARY 10, 2025

China’s National Financial Regulatory Administration on Saturday issued guidelines for insurance groups to manage “concentration risks,” asking insurers to hold sufficient capital and liquidity buffers.

Insurance

Insurance Insured Insurer Risk

Air Lease Corp. Gets $329 Million Insurance Payout for Jets Stranded in Russia

Insurance Journal

MARCH 24, 2025

million in cash, as part of certain insurance settlements related to its aircraft which were blocked from leaving Russia after the country’s invasion of Ukraine. Aircraft lessor Air Lease Corp. said on Monday it has received $328.5 Before the invasion …

Insurance

Insurance Insured Insurer Risk

Florida Legislators to Investigate Whether Property Insurers Used Accounting Tricks to Hide Profits

Property Insurance Coverage Law

MARCH 5, 2025

A new investigation into Floridas property insurance industry is set to begin, raising significant questions about insurer profitability, financial transparency, and the true reasons behind skyrocketing premiums for policyholders.

Property Insurance

Property Insurance Policyholder Premium Insurance Industry

State Farm, Consumer Group Battle Ahead of Calif. Insurance Commissioner Decision

Insurance Journal

MARCH 13, 2025

Ahead of a decision from California’s insurance commissioner on a State Farm General request for emergency rate increases, company executives and representatives of a consumer group pled their opposing cases in letters to Commissioner Ricardo Lara. News outlets in California …

Insurance

Insurance Insured Insurer

Specialty Re/Insurer Convex to Enter Lloyd’s With Syndicate 1984

Insurance Journal

FEBRUARY 14, 2025

the international specialty insurer and reinsurer, announced it has received in-principle approval to launch Lloyd’s Syndicate 1984, which will commence underwriting in April 2025. Convex Group Ltd., Convex said it has worked with its advisers Gallagher Re and Asta, which …

Underwriter

Underwriter Underwriting Insurance Insured

Insuring Unmarried Couples—Is There Coverage?

Property Insurance Coverage Law

FEBRUARY 24, 2025

1 Insuring property for unmarried couples is not so easy in many states. A recent Michigan case found that the unmarried woman did not qualify as an insured under a … The post Insuring Unmarried CouplesIs There Coverage? appeared first on Property Insurance Coverage Law Blog.

Property Insurance

Property Insurance Insurance Insured Insurer

Florida Insurance Regulators Demand Fair Treatment for Policyholders

Property Insurance Coverage Law

FEBRUARY 22, 2025

How do insurance claims work when your home has already been damaged once? A recent Florida Office of Insurance Regulation (OIR) Bulletin clarifies how insurers must handle claims for multiple hurricanes. But what happens when two hurricanes strike in the same season?

Policyholder

Policyholder Property Insurance Damage Insurance Claim

Lack of Insurable Interest Precludes Recovery for Property Damage

The Property Insurance Law Observer

MARCH 20, 2025

Hawley Insurance Co. 2025)), the United States District Court for the Southern District of New York determined that the plaintiff lacked an insurable interest in property it insured because it did not own or possess the property or suffer economic loss due to the propertys destruction. Hawley Insurance Co.

Property Damage

Property Damage Damage Insurance Insured

World Insurance Associates Acquires Business Contractors Insurance in California

Insurance Journal

JANUARY 20, 2025

World Insurance Associates LLC acquired the business of Business Contractors Insurance Services in Santee, California. The firm provides insurance services to individuals and businesses. World Insurance Associates is headquartered in Iselin, N.J., … BCIS was founded more than 15 years ago.

Insurance

Insurance Insured Insurer

Swiss Insurers Baloise, Helvetia Said to Explore Combination

Insurance Journal

MARCH 18, 2025

Baloise Holding AG and Helvetia Holding AG have been exploring a possible combination that could create one of Switzerland’s largest insurers, according to people familiar with the matter. The companies have held on-and-off discussions in recent months about a potential …

Insurance

Insurance Insured Insurer

Bad Faith Insurance Practices Shielded By “Get Out of Jail Free” Late Payments

Property Insurance Coverage Law

FEBRUARY 10, 2025

Thats the reality policyholders face when insurance companies delay or wrongfully deny claims, only to make a late payment after an appraisal and walk away without any real accountability. Last weeks decision in Mirelez v.

Policyholder

Policyholder Property Insurance Insurance Companies Insurance

When Does Property Insurance Coverage Start? Only After You Move Into the Home?

Property Insurance Coverage Law

MARCH 4, 2025

How many days do you have to move into a new home after purchase to keep your insurance coverage valid? AmGuard took the position that the new homeowner had no coverage because she was not living at the premises when she purchased the policy … The post When Does Property Insurance Coverage Start?

Property Insurance

Property Insurance Insurance Insured Insurer

Sell Your Insurance Agency and Maximize Your Earnings

Redbird Agents

MARCH 18, 2025

We specialize in helping independent insurance agency owners navigate the complex process of selling their agency. Schedule a Confidential Meeting with Our M&A Team Begin M&A Intake Form Why Sell Your Insurance Agency? Our team not only has experience negotiating deals, but we have successfully sold our own insurance agencies.

Insurance Agency

Insurance Agency Broker-Agent Insurance Insured

Bad Faith Insurance Practices Shielded By “Get Out of Jail Free” Late Payments

Property Insurance Coverage Law

FEBRUARY 10, 2025

Thats the reality policyholders face when insurance companies delay or wrongfully deny claims, only to make a late payment after an appraisal and walk away without any real accountability. Last weeks decision in Mirelez v.

Policyholder

Policyholder Property Insurance Insurance Companies Insurance

The Critical Role of Insurance Adjusters and the Growing Disenchantment in the Industry

Property Insurance Coverage Law

MARCH 26, 2025

Property insurance adjustersboth company-employed and independentserve as the backbone of the claims process, ensuring that policyholders receive the full benefits of their coverage as swiftly and fairly as possible.

Property Insurance

Property Insurance Policyholder Damage Claim

MS&AD Insurance Group Announces Merger of 2 Non-Life Subsidiaries

Insurance Journal

MARCH 28, 2025

MS&AD Insurance Group Holdings Inc. announced it will merge two of its non-life insurance company subsidiaries Mitsui Sumitomo Insurance Co. and Aioi Nissay Dowa Insurance Co. The aim of the merger is to build a more robust …

Life Insurance

Life Insurance Building Insurance Insured

The Critical Role of Insurance Adjusters and the Growing Disenchantment in the Industry

Property Insurance Coverage Law

MARCH 26, 2025

Property insurance adjustersboth company-employed and independentserve as the backbone of the claims process, ensuring that policyholders receive the full benefits of their coverage as swiftly and fairly as possible.

Property Insurance

Property Insurance Policyholder Damage Claim

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

Property Insurance Coverage Law

JANUARY 26, 2025

Is an Invasion Covered Under a Commercial Insurance Policy? appeared first on Property Insurance Coverage Law Blog. 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!

Commercial Insurance

Commercial Insurance Insurance Policy Commercial Policy

Does my Landlords Insurance Policy cover terrorism

Prof. Allan Manning

FEBRUARY 3, 2025

This is the fourth post in a series that looks at the coverage afforded by various types of insurance products. Today we look at Landlords Insurance. Landlords’ insurance falls within the same category as home and contents and some residential strata. This to me is quite a fair approach by the insurers involved.

Policy

Policy Insurance Policy Insurance Insured

Beware of a One-Year Deadline to File a Lawsuit—Always Hire a Public Adjuster If Your Insurer Makes You Adjust Your Own Claim

Property Insurance Coverage Law

JANUARY 30, 2025

A recent federal court decision favoring Liberty Mutual Insurance Company in a pipe burst claim1 left me thinking about two lessons. First, this case strongly reminds policyholders to be aware of time limits in their insurance policies and take action as soon as they believe their claim is not being handled fairly.

Claim

Claim Policyholder Property Insurance Insurance Policy

Cyber Insurance Firm Coalition Gets $30M Equity Investment From Mitsui Sumitomo

Insurance Journal

MARCH 4, 2025

Global cyber insurance provider Coalition announced a new $30 million equity investment from Insurance Co., MSI), a member of MS&AD Insurance Group. The investment anchors a strategic partnership aimed at bringing what San Francisco-based Coalition calls its “Active Insurance” …

Cyber

Cyber Insurance Insured Insurer

History of The Valued Policy Laws—Insurers Threatening to and Leaving Markets is Nothing New

Property Insurance Coverage Law

JANUARY 20, 2025

State legislators enacted valued policy laws in the late 19th century with significant debate.The insurance industry was dead set … The post History of The Valued Policy LawsInsurers Threatening to and Leaving Markets is Nothing New appeared first on Property Insurance Coverage Law Blog.

Policy

Policy Property Insurance Insurance Industry Insurance

NCDOI Fines UnitedHealthcare $3.4 Million Over Balance Billing of Insureds

Insurance Journal

FEBRUARY 9, 2025

million fine and take action to improve claims handling and prevent balance billing for out-of-network treatment after a state Department of Insurance investigation detailed multiple allegations. UnitedHealthcare of North Carolina has agreed to pay a $3.4 “Patients receiving emergency room …

Insurance

Insurance Insured Insurer Claim

People Moves: Willis Promotes Easton to Global Head of ART and Head of Western Europe, Risk & Analytics; Arch Insurance UK Division Promotes 4 Senior Leaders

Insurance Journal

FEBRUARY 7, 2025

This edition of International People Moves details appointments at Willis and Arch Insurance UK. A summary of these new hires follows here. Willis Promotes Easton to Global Head of ART and Head of Western Europe, Risk & Analytics Willis, a …

Risk

Risk Insurance Insured Insurer

Howden Acquires Forbes Insurance and Hill Aviation in UK

Insurance Journal

FEBRUARY 19, 2025

Howden, the London-based global insurance intermediary group, announced the acquisition of aviation specialists Forbes Insurance Ltd., and the acquisition of the book of business from Hill Aviation Insurance Services Ltd. Forbes Insurance … Financial details of the acquisitions were not disclosed.

Insurance

Insurance Insured Insurer Broker-Agent

Florida OIR Wants More Data, Warns Insurers about Concurrent Causation Denials

Investigations to Legislation: Florida Lawmakers Weighing Insurance Industry Changes

Trending Sources

Mangrove, Florida’s Newest Home Insurer, Receives Demotech Rating

Treasury’s FIO Releases ‘Flawed’ Homeowners Insurance Report, Industry Says

Take the Hassle Out of Claims Management

After Florida Report, Georgia Senator Wants Investigation into MGAs, Insurer Profits

‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association

Med-Mal Insurer ProAssurance to Go Private After $1.3B Purchase by The Doctors Co.

Why Are California Insurers Putting Their Policyholder Customers at Risk For Their Health?

Viewpoint: Delegated Underwriting Authority Enterprises Offer Insurers Competitive Edge

Selectsys Acquires Expert Insured, with AI for Carriers, MGAs

Why Shouldn’t Insurance Executives Disclose Their Pay?

Catastrophe Experts Tap AI to Tackle Soaring Insured Losses

Florida’s Insurance Scandal: The “Incomplete” Report That Almost Stayed Buried

Mistakes in setting sums insured / declared value where the Insured elects an Indemnity Period of less than 12 months.

Why Shouldn’t Insurance Executives Disclose Their Pay?

Examinations Under Oath in New York Property Insurance Claims

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

Why Are California Insurers Putting Their Policyholder Customers at Risk For Their Health?

China Asks Insurers to Manage Sufficient Capital and Liquidity Buffers

Air Lease Corp. Gets $329 Million Insurance Payout for Jets Stranded in Russia

Florida Legislators to Investigate Whether Property Insurers Used Accounting Tricks to Hide Profits

State Farm, Consumer Group Battle Ahead of Calif. Insurance Commissioner Decision

Specialty Re/Insurer Convex to Enter Lloyd’s With Syndicate 1984

Insuring Unmarried Couples—Is There Coverage?

Florida Insurance Regulators Demand Fair Treatment for Policyholders

Lack of Insurable Interest Precludes Recovery for Property Damage

World Insurance Associates Acquires Business Contractors Insurance in California

Swiss Insurers Baloise, Helvetia Said to Explore Combination

Bad Faith Insurance Practices Shielded By “Get Out of Jail Free” Late Payments

When Does Property Insurance Coverage Start? Only After You Move Into the Home?

Sell Your Insurance Agency and Maximize Your Earnings

Bad Faith Insurance Practices Shielded By “Get Out of Jail Free” Late Payments

The Critical Role of Insurance Adjusters and the Growing Disenchantment in the Industry

MS&AD Insurance Group Announces Merger of 2 Non-Life Subsidiaries

The Critical Role of Insurance Adjusters and the Growing Disenchantment in the Industry

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

Does my Landlords Insurance Policy cover terrorism

Beware of a One-Year Deadline to File a Lawsuit—Always Hire a Public Adjuster If Your Insurer Makes You Adjust Your Own Claim

Cyber Insurance Firm Coalition Gets $30M Equity Investment From Mitsui Sumitomo

History of The Valued Policy Laws—Insurers Threatening to and Leaving Markets is Nothing New

NCDOI Fines UnitedHealthcare $3.4 Million Over Balance Billing of Insureds

People Moves: Willis Promotes Easton to Global Head of ART and Head of Western Europe, Risk & Analytics; Arch Insurance UK Division Promotes 4 Senior Leaders

Howden Acquires Forbes Insurance and Hill Aviation in UK

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