Insurer - 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 Insurer Insured

Florida’s Insurance Regulator Buried a Completed Report That Raised Red Flags About Insurer Affiliate Profits

Property Insurance Coverage Law

APRIL 4, 2025

Yesterdays testimony before the Florida House Insurance & Banking Subcommittee ripped the cover off a story thats been brewing for years: the Office of Insurance Regulation (OIR) under David Altmaier had a completed, paid-for, red-flag-waving report about insurer affiliate transactions showing hundreds of millions of hidden profits for the insurance (..)

Insurance

Insurance Insurer Insured Property Insurance

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 Insurer

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 Insurer Insured Casualty Insurance

Take the Hassle Out of Claims Management

Advertiser: Trellis

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Claim

California Bill Seeks to Beef up Consumer Privacy Protections for Insurance

Insurance Journal

APRIL 10, 2025

A new bill introduced in California aims to increase transparency and accountability in California’s insurance market by bolstering consumer privacy protections and establishing a privacy rights framework for insurance licensees and their third-party service providers. Senate Bill 354, the Insurance …

Protection

Protection Insurance Insurer Insured

‘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 Insurer Insured Policy

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 Insurer

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 Insurer Insured

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 Insurer Insured

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 Insurer Insured 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 Insurer

Uber Spends Six Figures on Ads in Latest NY Insurance Reform Push

Insurance Journal

APRIL 18, 2025

is spending six figures on advertisements in New York in its latest appeal to lawmakers to address issues stemming from the insolvency of the city’s largest taxi insurer. Uber Technologies Inc. The rideshare giant launched the campaign on Tuesday as …

Insurance

Insurance Insurer Insured Auto Insurance

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 Insurer 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 Insurer

Florida’s Divided Insurance Regulation Is Under Fire — and for Good Reason

Property Insurance Coverage Law

APRIL 5, 2025

A recent public records request byTampa Bay Timesreporter Lawrence Mower has uncovered a revealing memo from Floridas Office of Insurance Regulation (OIR) that could mark a major turning point in how the state handles insurance regulation.

Property Insurance

Property Insurance Insurance Insurer 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

World Insurance Associates Acquires Royalty Insurance Services in California

Insurance Journal

APRIL 6, 2025

World Insurance Associates LLC has acquired Royalty Insurance Services in Van Nuys, California. Royalty has been providing commercial trucking insurance for over 23 years. World Insurance Associates is a national financial services organization headquartered in Iselin, New Jersey operating from …

Insurance

Insurance Insurer Insured Commercial

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 Insurer

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 Insurer

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 Insurer Insured 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 Insurer Insured Risk

Growing Fast, Going Public: Florida’s American Integrity Insurance Files for IPO

Insurance Journal

APRIL 15, 2025

American Integrity Insurance, one of the largest property insurance carriers in Florida with more than 350,000 policies in force, is going to Wall Street with an initial public offering. The Tampa-based parent company, American Integrity Insurance Group, founded in 2006, …

Insurance Carrier

Insurance Carrier Property Insurance Insurance 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 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 Insurer

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 Insurer Insured

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

What If Every Insurance Company Engineer Report Suggests a Denied Claim? We’re About to Find Out

Property Insurance Coverage Law

APRIL 21, 2025

A recent conversation on LinkedIn has sparked serious questions about the objectivity of engineering reports used by insurance companies. The statement … The post What If Every Insurance Company Engineer Report Suggests a Denied Claim? Were About to Find Out appeared first on Property Insurance Coverage Law Blog.

Insurance Companies

Insurance Companies Claim Property Insurance Insurance

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 Insurer 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

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 Insurer 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

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 Insurer Insured

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 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

Five Charged in Multi-Million-Dollar Insurance Fraud Case

Insurance Journal

APRIL 14, 2025

Five people have been charged in a large-scale insurance fraud scheme involving misrepresented life insurance policies that resulted in fraudulent commissions totaling over $1.4 The five, which include a former insurance agent, reportedly fraudulently obtained more than $1.4 million …

Life Insurance

Life Insurance Insurance Agent Insurance Agents Insurance Policy

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

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 Insurer Insured

Keep Track of Your Insurance Policies—Make Insurance Checkups

Property Insurance Coverage Law

APRIL 12, 2025

Most people dont think much about their insurance policies after they buy them. Insurance becomes almost invisibleuntil something happens. A bill shows up, they pay it, and life moves on.

Insurance Policy

Insurance Policy Policy Insurance Insurer

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

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

Florida’s Insurance Regulator Buried a Completed Report That Raised Red Flags About Insurer Affiliate Profits

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

California Bill Seeks to Beef up Consumer Privacy Protections for Insurance

‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association

Investigations to Legislation: Florida Lawmakers Weighing Insurance Industry Changes

Catastrophe Experts Tap AI to Tackle Soaring Insured Losses

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

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?

Uber Spends Six Figures on Ads in Latest NY Insurance Reform Push

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

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

Florida’s Divided Insurance Regulation Is Under Fire — and for Good Reason

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

World Insurance Associates Acquires Royalty Insurance Services in California

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

China Asks Insurers to Manage Sufficient Capital and Liquidity Buffers

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

Growing Fast, Going Public: Florida’s American Integrity Insurance Files for IPO

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

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

What If Every Insurance Company Engineer Report Suggests a Denied Claim? We’re About to Find Out

World Insurance Associates Acquires Business Contractors Insurance in California

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

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

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

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?

Lack of Insurable Interest Precludes Recovery for Property Damage

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

Five Charged in Multi-Million-Dollar Insurance Fraud Case

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

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

Keep Track of Your Insurance Policies—Make Insurance Checkups

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

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