Homeowners are increasingly forgoing home insurance, gambling that the likelihood of a disaster isn’t high enough to justify the cost of a policy.
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Hawaii Wildfires Spur Insurers to Reassess the State’s Risk
Weeks after wildfires killed at least 115 people on Maui, insurance companies are beginning to assess the damage to calculate their payouts. Early estimates for the total cost of the fires are $4 billion to $6 billion, according to a report from Moody’s Risk Management Solutions.
Are We Ready for a $100 Billion Catastrophe? How About $200 Billion?
Will America dodge another bullet? Years often pass without a major hurricane making landfall, and 2023’s storm season, set to peak in a couple of weeks, may be no different. What is different is the potential financial shock if one does hit.
U.S. Auto Insurer Profit Recovery Slow to Materialize
Most U.S. personal auto insurers continue to report underwriting losses despite sharper improvement in premium rates, with the first half of 2023 marked by continued unfavorable claims severity and higher catastrophe related losses, Fitch Ratings says
Tropical Storm Idalia to Become Hurricane on Its Path Toward Florida
Tropical Storm Idalia is set to intensify into a hurricane on Monday on its way toward Florida, which is bracing for its first major storm of the Atlantic hurricane season.
3M Nears $5.5 Billion Settlement Over Defective Military Earplugs: Reports
3M Co. is nearing agreement on a $5.5 billion settlement over defective earplugs, according to reports Sunday.
Rising Insurance Costs Start to Hit Home Sales
Home-insurance companies are trying to claw back steep underwriting losses by hiking rates, or pulling back from disaster-prone areas.
SEC Overhauls Rules for $20 Trillion Private Fund Industry
The U.S. securities regulator on Wednesday adopted new rules that will shine a light on private equity and hedge fund expenses and fees, in what executives and lawyers said marks a sweeping overhaul for an industry long criticized for its opacity.
Signers National Acquires Two Nonprofit Insurers
Signers National, a group of premier insurance companies dedicated to servicing key client segments across the United States, today announced the acquisition of two leading nonprofit insurance companies, Eclipse Risk Insurance Services and Whittaker Agency.
Orion180 Approved to Enter Florida Homeowners and Wind Market
Orion180, a premier provider of insurance solutions launched in 2018, had its two carriers, Orion180 Select Insurance Co. and Orion180 Insurance Co., approved to operate in Florida, as announced by the Florida Office of Insurance Regulation.