AAIS (American Association of Insurance Services), the only national not-for-profit insurance advisory organization, today announced a new partnership with Munich Reinsurance America, Inc. (Munich Re), one of the world’s largest reinsurers, that will focus on improving flood insurance for U.S. homeowners. As the risk of flood continues to rise in the U.S., so too does… Continue reading AAIS and Munich Re Partner to Help Close the Flood Insurance Gap in the U.S.
Tag: home insurance
Home Insurance Customer Satisfaction Declines, Opening Door for Insurtech Disruptors: J.D. Power Finds
Nearly three-fourths (74%) of homeowners insurance customers believe the industry needs improvement, with 13% of customers indicating that “radical improvement is needed,” according to the J.D. Power 2019 U.S. Home Insurance Study.SM The study also finds that overall customer satisfaction with home insurance has declined for the first time since 2015, creating an opportunity for… Continue reading Home Insurance Customer Satisfaction Declines, Opening Door for Insurtech Disruptors: J.D. Power Finds
Dorian Is Exposing an Insurance Gap in the Bahamas
The vast majority of damage caused by Hurricane Dorian to the Bahamas and other Caribbean countries is unlikely to be covered by insurance, which could slow recovery in the region. The storm ravaged the Bahamas as a Category 5 storm Sunday and Monday. It killed at least five people and destroyed thousands of homes. Dorian… Continue reading Dorian Is Exposing an Insurance Gap in the Bahamas
79% of Millennial Homebuyers Do Not Feel Properly Informed before Purchasing their First Home
Home ownership may be considered one of life’s most rewarding financial achievements, but new data from the Farmers Insurance® Seasonal Smarts Digest suggests younger homebuyers may be met with a dizzying maze of potential confusion once they reach this achievement. In addition to finding that almost eight in 10 (79%) millennial homeowners did not feel… Continue reading 79% of Millennial Homebuyers Do Not Feel Properly Informed before Purchasing their First Home
The Hartford Taps Cape Analytics for Home Data
The Hartford, property and casualty insurer, has partnered with with Cape Analytics to provide AI and geospatial imagery for property intelligence. The new partnership will allow predictive, comprehensive, and AI-based property information for better quoting, renewals and home inspections. Ben Rhodes, head of homeowners’ product for The Hartford, shared “We continue to invest in technology… Continue reading The Hartford Taps Cape Analytics for Home Data
As Climate Change Threatens California, Officials Seek ‘Sustainable Insurance’
California regulators are teaming up with the United Nations to develop “sustainable insurance” guidelines that would help address climate-change-related disasters such as coastal flooding and larger wildfires — the first such partnership of its kind between the international organization and a U.S. state, officials announced Tuesday. After a roundtable discussion at UCLA with lawmakers, state… Continue reading As Climate Change Threatens California, Officials Seek ‘Sustainable Insurance’
PG&E Caused Fire that Killed 85, California Investigators Find
California investigators found that PG&E Corp.’s equipment sparked the deadliest wildfire in state history, putting additional pressure on a company already facing billions of dollars in fire-related liability costs. The California Department of Forestry and Fire Protection said on Wednesday it had determined that a PG&E electric-transmission line near the town of Pulga, Calif., ignited… Continue reading PG&E Caused Fire that Killed 85, California Investigators Find
As Hurricane, Fire Seasons Approach, More People Likely to Be in Harm’s Way
As emergency managers prepare for hurricane and wildfire seasons, they say growing development and higher population in vulnerable areas will likely amplify the damage and devastation. Meteorologists expect more than a dozen named storms in the Atlantic this year, slightly above average. In California, a burst of vegetation from rains could serve as fuel in… Continue reading As Hurricane, Fire Seasons Approach, More People Likely to Be in Harm’s Way
Home Ownership Rate Drops for First Time in More than Two Years
The U.S. homeownership rate fell for the first time in more than two years in the first quarter, putting the brakes on the recovery of an important piece of the economy. The homeownership rate fell to 64.2% in the first quarter from 64.8% in the fourth quarter, according to U.S. Census Bureau figures released Thursday—a… Continue reading Home Ownership Rate Drops for First Time in More than Two Years
Millions Live in Parts of California Threatened by Wildfires
Impoverished towns in the shadow of Mount Shasta. Rustic Gold Rush cities in the Sierra Nevada foothills. High-dollar resort communities on the shores of Lake Tahoe. Ritzy Los Angeles County suburbs. They all could be the next Paradise. A McClatchy analysis reveals more than 350,000 Californians live in towns and cities that exist almost entirely… Continue reading Millions Live in Parts of California Threatened by Wildfires