Author: Maria Valdez Haubrich

Reconstruction Costs Surge Over 60% in the Past Decade, Verisk Reports

Team of construction workers installing panels while building a manufactured house - construction industry concepts

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.

California FAIR Plan Assessment: Insurers to Recover Costs Through Policyholder Fees

Wildfires are among forces of nature that cause huge devastation to humans and environment. wildfires have left little behind, turning communities to ashen, barren hills. Nearly every year, California experiences major wildfires that can be devastating to the environment and communities throughout the state.

The California property and casualty insurance market is facing significant financial adjustments as insurers prepare to recover up to half of a $1 billion assessment imposed by the California FAIR Plan.

The Growing Threat to Homeownership: How Insurance Challenges Could Disrupt Mortgages in High-Risk Areas

Aerial still of residential neighborhood in Oakwood, a small city in Montgomery County, Ohio, on a clear day in Fall.

Federal Reserve Chairman Jerome Powell warned that in the next 10 to 15 years, securing mortgages in certain parts of the country may become nearly impossible due to escalating difficulties in the insurance sector.