The devastating Palisades and Eaton fires have inflicted an estimated $30 billion in real estate losses, displacing nearly 13,000 households and severely impacting local communities.
Author: Maria Valdez Haubrich
One in Three U.S. Drivers Are Either Uninsured or Underinsured, Exposing Themselves and Other Drivers to Significant Financial Risk, New IRC Study Shows
One in three U.S. drivers (33.4%) were either uninsured or underinsured in 2023, a 10-percentage point increase in the combined rate since 2017, according to a new report, Uninsured and Underinsured Motorists: 2017–2023, produced by the Insurance Research Council (IRC), affiliated with The Institutes.
California’s FAIR Plan Faces $1 Billion Shortfall Following LA Wildfires
California’s FAIR Plan, the state’s insurer of last resort for homeowners unable to obtain private insurance, requires an additional $1 billion to cover claims from the recent Los Angeles wildfires.
California Court Rules Wildfire Debris Does Not Constitute “Physical Damage” in Homeowners Insurance Case
A recent California appeals court decision has reaffirmed that wildfire debris does not automatically constitute “direct physical loss or damage” under homeowners insurance policies.
Avoiding IRS Audits: Common Red Flags and Best Practices
While audits remain relatively rare, the IRS employs sophisticated software to flag inconsistencies, and certain red flags can increase the likelihood of scrutiny. Understanding these triggers can help taxpayers file more accurately and avoid unnecessary audits.
FCC 1:1 Consent Order Vacated: Key Developments and Industry Implications
On January 24, 2025, significant developments impacted the lead-generation industry regarding compliance with the Telephone Consumer Protection Act (TCPA).
Brokers Notch Another Banner Year: 2024 Ends With 9% Organic Growth Rate
Brokers ended the year with a solid 9% organic growth, continuing the strong returns of the last four years, according to Reagan Consulting’s Growth & Profitability Survey (GPS), fueling brokers’ optimism for 10% organic growth by the end of 2025.
FastrackCE Celebrates 25 Years of Innovation in Insurance Continuing Education
FastrackCE, a trusted provider of online continuing education for insurance professionals, proudly celebrates 25 years of service. Since its founding in 2000, the company has remained committed to delivering accessible, efficient, and high-quality courses to help professionals maintain their licenses and stay informed.
Travelers Reports $1.7 Billion in Wildfire Claims, Future Insurance Strategy Unclear
Travelers has announced a $1.7 billion impact from policyholder claims related to the recent Los Angeles wildfires. However, the company has not confirmed whether it will significantly raise insurance premiums in California or nationwide to offset these losses.
Reconstruction Costs Surge Over 60% in the Past Decade, Verisk Reports
Reconstruction costs for both residential and commercial properties have risen sharply over the past ten years, with national residential costs increasing by 63.7% and commercial costs climbing by 58.4%, according to an analysis by Verisk’s 360Value.