As California battles wildfires and severe drought, the threat of flooding may appear to be an unlikely cause for concern. A new study, however, warns that the state could be hit by a “megaflood” in the not-too-distant future, potentially putting millions at risk across the state. The study, published in Sciences Advances on Friday, discovered… Continue reading Climate Change Has Increased Likelihood of a Megaflood in California
Author: Farkas Laura
SURE Expands to North Carolina Homeowners Insurance Market
SURE, the member-owned insurance company for reliable coastal property protection, today announced its coverage is now available in North Carolina. SURE’s North Carolina homeowners insurance is underwritten, distributed, and serviced by SageSure, the leader in catastrophe-exposed property insurance. “SURE was founded to answer the need for trusted property insurance in states with significant catastrophe exposure,”… Continue reading SURE Expands to North Carolina Homeowners Insurance Market
Boy Scouts Walk Back $250M Mormon Church Abuse Settlement
After a judge refused to approve a settlement between the organizations, the Boy Scouts of America (BSA) will attempt to exit bankruptcy without a $250 million payment from the Church of Jesus Christ of Latter-day Saints. In exchange for a $250 million contribution to the BSA settlement fund, the BSA agreed to protect the Mormon… Continue reading Boy Scouts Walk Back $250M Mormon Church Abuse Settlement
2022 P&C Underwriting Profitability Seen Worsening as Inflation, Hard Market Continue: Triple-I
According to actuaries at Triple-I and Milliman, a risk-management, benefits, and technology firm, the property & casualty insurance industry’s combined ratio – an indicator of underwriting profitability – is forecast at 100.7 for 2022, up 1.2 points from 2021. These findings were presented at a Triple-I members-only virtual webinar. Combined ratio represents the difference between… Continue reading 2022 P&C Underwriting Profitability Seen Worsening as Inflation, Hard Market Continue: Triple-I
More than Two Big Storms in Florida Could Spell Trouble for Insurers
In Florida, it’s that time of year again. Peak hurricane season is bearing down on the state like the flying saucer in the film “Nope.” Insiders in the insurance industry say policyholders are insured as long as the state isn’t hit by more than two major storms. Typically, the most dangerous tropical cyclones strike Florida… Continue reading More than Two Big Storms in Florida Could Spell Trouble for Insurers
Median Organic Growth Levels Reach Double Digits for Independent Agents & Brokers
Good news never gets old. According to a Reagan Consulting survey, independent insurance agents and brokers experienced their fifth consecutive quarter of record-breaking organic growth. Their median organic growth reached double digits for the first time in the nearly 15-year history of the firm’s Growth & Profitability Survey, reaching 10.2% in the second quarter of… Continue reading Median Organic Growth Levels Reach Double Digits for Independent Agents & Brokers
Alex Gibson Joins Alliant Insurance Services’ Orlando Benefits Team
Orlando, Florida-based consultant Alex Gibson has joined Alliant Insurance Services as Vice President within its Employee Benefits Group. Gibson will work with a diverse base of regional and national clients, deploying customized employee benefits programs and solutions. “Alex joins us with a unique professional background and extensive set of skills that adds additional strength to… Continue reading Alex Gibson Joins Alliant Insurance Services’ Orlando Benefits Team
Everyone Is Buying Travel Insurance, Claims Abound
As people take to the skies again, travel insurance is becoming more popular than ever. That isn’t always a good thing for the companies that provide coverage. Global insurers say they are selling more policies at higher prices as travel recovers from the pandemic, with young people particularly enthusiastic. Some insurers have expanded coverage to… Continue reading Everyone Is Buying Travel Insurance, Claims Abound
Coalition Completes Acquisition of Insurance Carrier with Licenses in All 50 States
Coalition, the world’s first Active Insurance provider focused on preventing digital risk before it occurs, announced today that it has received regulatory approval and completed the acquisition of Digital Affect Insurance Company from Munich Re Digital Partners US Holding Corporation. Digital Affect Insurance Company is an all-state property and casualty insurer. Coalition will be able… Continue reading Coalition Completes Acquisition of Insurance Carrier with Licenses in All 50 States
Aon Collaborates with the University of California to Enhance Wildfire Modeling
Aon plc, a leading global professional services firm, today announced a new collaboration between its Impact Forecasting team, the University of California, Merced and the University of California, Los Angeles to implement the latest climate change science and research into Aon’s U.S. wildfire catastrophe model. The collaboration includes research from some of the nation’s top… Continue reading Aon Collaborates with the University of California to Enhance Wildfire Modeling