Insurance Journal
FEBRUARY 11, 2025
California Insurance Commissioner Ricardo Lara approved a California FAIR Plan request for a $1 billion assessment on admitted market insurers to cover claims from the Los Angeles wildfires.
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. That sum insured had not been reviewed for many years and as a result of 100% average, as it was on that policy, the client received only 6.9% of their loss.
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Property Insurance Coverage Law
FEBRUARY 11, 2025
Will My Insurer Pay Me 100% of My Contents Claim After a Wildfire Loss? Californias Insurance Commissioner Thinks They Should Without an Inventory Experiencing the loss of your home and personal belongings in a wildfire is an unimaginable hardship. The devastation from a California wildfire property damage event can leave individuals struggling to rebuild their … The post What to Expect after a California Wildfire Property Damage Event appeared first on Property Insurance Coverage Law Blog
Solstice Insurance Broker
FEBRUARY 10, 2025
Valentines Day is just one of many opportunities to show gratitude to those you care about. As an insurance broker, you have a special opportunity to let your clients know how much their loyalty and business mean to you. By showing appreciation, you not only strengthen your current relationships but also attract new ones. Here are some friendly and effective ways to make your clients feel valued.
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Insurance Journal
FEBRUARY 12, 2025
The Federal Emergency Management Agency said it needs to borrow $2 billion from the U.S. Treasury to cover claims from National Flood Insurance Program policyholders.
Insurance Industry Brief brings together the best content for insurance professionals from the widest variety of industry thought leaders.
Insurance Journal
FEBRUARY 6, 2025
Before a wildfire ravaged their street in northwest Altadena, Louise Hamlin and Chris Wilson lived next door to each other in nearly identical houses.
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.
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. Prices hit a fresh peak.
Insurance Journal
FEBRUARY 5, 2025
The excess and surplus lines market continued to grow in 2024, with premium reaching more than $81 billion, according to annual reports from 15 state stamping offices released by the Wholesale & Specialty Insurance Association (WSIA).
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.
Insurance Journal
FEBRUARY 17, 2025
Uber Technologies Inc. is pouring millions of dollars into a national ad campaign to push for reforms in insurance policies that it says have been exploited by personal injury lawyers and contribute to higher ride prices.
Insurance Journal
FEBRUARY 3, 2025
The City of London, once considered the crown jewel of Britain’s dominant services sector, has performed even worse than the rest of the economy in the years following the Brexit referendum. Financial and insurance output has grown just 2.
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.
Insurance Journal
FEBRUARY 5, 2025
Allstate Corp. fourth quarter net income applicable to common shareholders increased 30% to about $1.9 billion, and the insurer finished 2024 with net income of $4.6 billion compared to a loss of $316 million the prior year.
Insurance Journal
FEBRUARY 19, 2025
Florida-based insurance broker King Risk Partners announced its acquisition of the Kerr Agency Inc., an independent insurance agency located in Simsbury, Connecticut. This strategic acquisition furthers King Risk Partners’ expansion across the Northeast. Kerr is King’s fifth agency in Connecticut.
Insurance Journal
FEBRUARY 17, 2025
Indian authorities have ordered British insurer Aviva’s local unit to pay $7.5 million in back taxes and penalties after an investigation found it created fake invoices to pay illegal commissions and claimed incorrect tax credits, an order shows.
Insurance Journal
FEBRUARY 3, 2025
State Farm General said on Monday it is asking the California Department of Insurance to immediately approve interim rate increases, including 22% average for homeowners.
Insurance Journal
FEBRUARY 18, 2025
A Delta Air Lines Inc. regional jet flipped out of control after landing in windy, freezing conditions in Toronto, skidding along the runway and coming to rest upside down after losing its tail and one of its wings.
Insurance Journal
FEBRUARY 5, 2025
USAA has paid out more than $1 billion for the Los Angeles wildfires, making it the third insurer to report $1 billion or more in payouts for the destructive blazes that burned thousands of properties.
Insurance Journal
FEBRUARY 18, 2025
A Massachusetts cannabis grower is suing a neighboring berry and vegetable farm for allegedly rendering its entire cannabis harvest unusable by incorrectly spraying chemicals in a way that caused them to drift onto its cannabis crops and contaminate them.
Insurance Journal
FEBRUARY 18, 2025
Jailed and disgraced movie mogul Harvey Weinstein alleges in a new lawsuit that his brother, Bob Weinstein, and other executives at their now-defunct film company duped him into guaranteeing a $45 million loan in 2016, but diverted funds for their …
Insurance Journal
FEBRUARY 11, 2025
Wildfire Defense Insurance Services Inc. has launched wildfire only coverage for E&S commercial property in California. The product is available for a range of commercial property classes of business.
Insurance Journal
FEBRUARY 3, 2025
Not far from where Ceci Carroll lives, a rock-mining company has polluted the air with dust across the San Gabriel Valley, she said.
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.
Insurance Journal
FEBRUARY 3, 2025
Brand new Florida home insurer Mangrove Property Insurance Co. has received a Financial Stability Rating (FSR) of “A, Exceptional” from Demotech, Inc., a financial analysis firm that specializes in rating regional and specialty insurers.
Insurance Journal
FEBRUARY 6, 2025
Hub announced that it has acquired the assets of John L. Kiley Agency, Inc. dba DAR The Rocchio Agency (The Rocchio Agency). Terms of the transaction were not disclosed.
Insurance Journal
FEBRUARY 19, 2025
This edition of International People Moves details appointments at Hamilton Global Specialty and QBE European Operations. A summary of these new hires follows here.
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.
Insurance Journal
FEBRUARY 14, 2025
iink, a provider of technology to streamline the property damage insurance claims process and support faster payments to contractors, property owners, and claim professionals, is pleased to announce the appointment of Scott Fleszar as its new Chief Executive Officer. Mr.
Insurance Journal
FEBRUARY 5, 2025
Florida’s 2025-2026 state budget, as proposed by Gov. Ron DeSantis, would provide some $600 million for home and condominium hardening grants almost triple what lawmakers approved for the popular programs last year.
Insurance Journal
FEBRUARY 18, 2025
IQUW, the London-based specialty insurer and reinsurer, has launched its new ports and terminals product, reinforcing its position as a lead market for marine insurance.
Insurance Journal
FEBRUARY 14, 2025
California Insurance Commissioner Ricardo Lara and a group of state lawmakers are pushing a 10-bill legislative package designed to improve disaster preparedness and help protect wildfire survivors. The bills intended focus are on consumer protection, climate resiliency and market strength.
Insurance Journal
FEBRUARY 13, 2025
American International Group CEO Peter Zaffino used the insurer’s fourth quarter earnings call to again talk about reinsurance attachments points, throwing in the possibility 2025 could be the year for $200 billion in insured catastrophe losses.
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