Velocity Risk Underwriters, the catastrophe exposed property insurance specialist managing general agency (MGA) operation, is set to exit the homeowners insurance marketplace.
Author: Annie George
Headwinds Continue for MPL Insurance Sector Despite Improvement in 2022
A new report issued by the MPL Association shows the medical professional liability insurance sector had a combined ratio that improved from 108.1% in 2021 to 102.2% in 2022.
State Farm Hit with Lawsuit Over Luxury Vehicle Repair Coverage
State Farm is facing a class action lawsuit for allegedly failing to foot the bill for the repair of high value luxury vehicles.
Governor DeSantis Signs Legislation to Support Florida Policyholders When Disaster Strikes
Governor DeSantis signed three bills to strengthen Florida’s property insurance market, expand the state’s home hardening and hazard-mitigation programs, and further protect consumers against bad actors.
Hurricane Season Could Threaten an Estimated 33 Million Homes: CoreLogic
This year, CoreLogic has identified that more than 32 million single-family residences (SFRs) and an additional 1 million multifamily residences (MFRs) are at moderate or more significant risk of sustaining damage from hurricane-force winds.
FL Coastal Town Brings Mass Litigation – and Threat to Chemical Giants
The coastal city Stuart, comprised of retirees and tourists 40 miles north of Palm Beach, Florida, is at the forefront of one of the nation’s biggest environmental legal battles, over a class of chemicals known as PFAS.
Citizens Insurance Eyes Rate Hikes
Leaders of the Florida state-backed Citizens Property Insurance Corp. approved a proposal Wednesday that would raise average rates by 14.2 percent this year.
Amazon Settles Complaints Over Ring Surveillance
Amazon.com agreed Wednesday to pay $30.8 million to settle claims that it improperly retained children’s Alexa voice recordings and allowed employees of its Ring video doorbell unit to surveil customers.
ABM Rebrands to Green Tree Risk Partners Honoring Philadelphia History
Allied Building Material Agency (ABM) today announces a rebrand to Green Tree Risk Partners, a name with a longstanding history in Philadelphia.
Noncompete Agreements Violate U.S. Labor Law, Official Says
A U.S. labor board official on Tuesday said requiring workers to sign agreements not to join competing companies is usually illegal, the latest bid by government regulators to rein in the practice.