After a 2020 filled with hurricanes and wildfires, this year could be the moment when the U.S. insurance industry finally grapples with climate change. Who will win that wrestling match? Insurers? Homeowners? Or the increasingly challenging environment? “The alarm bells are now ringing loudly,” says Karen Collins, who handles home insurance and other personal lines… Continue reading Homeowners and Insurers Will Grapple with Climate Change in 2021
Tag: home insurance
Allianz Buys Westpac Insurance Business
Allianz has acquired the Westpac general insurance business in a A$725 million deal that includes a 20-year agreement for distribution of products to the bank’s customers. The insurer says the transaction is an important step in building its consumer portfolio in Australia and builds on an existing relationship with Westpac, in place since 2015, that… Continue reading Allianz Buys Westpac Insurance Business
Mercury Insurance Launches Programs to Help California Homeowners with Wildfire Risk
Wildfire season is well underway, with wildfires scorching a record breaking number of acres up and down California, and the peak of the season is yet to come. Mercury Insurance today announced two new programs the company is launching to help Californians better protect their homes and families if they live in areas prone to… Continue reading Mercury Insurance Launches Programs to Help California Homeowners with Wildfire Risk
CoreLogic Estimates $8B-$12B in Insured Losses from Hurricane Laura Wind and Storm Surge
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today announced updated residential and commercial wind and storm surge loss estimates for Hurricane Laura. According to this new data analysis, insured wind and storm surge losses for residential and commercial properties in Louisiana and Texas are estimated to be between $8 billion and… Continue reading CoreLogic Estimates $8B-$12B in Insured Losses from Hurricane Laura Wind and Storm Surge
Nearly 50% of Homeowners Confused Over their Coverage
Many Americans are confused about the basics of homeowners insurance, according to a new survey from Policygenius, the nation’s leading online insurance marketplace. Even respondents who noted they have home insurance were not sure about some of the basics. Nearly half of homeowner respondents (49.4%) incorrectly reported how to calculate the coverage amount for their… Continue reading Nearly 50% of Homeowners Confused Over their Coverage
Hippo Acquires Spinnaker Insurance Company
Hippo, the high-growth company that’s transforming home insurance and ownership, announced today that it has entered into a definitive agreement, pending regulatory approval, to acquire Spinnaker Insurance Company, a national property and casualty insurer licensed in 50 states and rated A- (Excellent) by A.M. Best Company. As part of the acquisition, Spinnaker will join Hippo’s… Continue reading Hippo Acquires Spinnaker Insurance Company
Hippo Insurance and SimpliSafe Partner to Offer Homeowners Insurance Policy with Home Alarm Devices
Hippo Insurance, the high-growth company that’s transforming home insurance and ownership, and SimpliSafe®, maker of award-winning home security systems, today announced a partnership that will provide homeowners access to more options and enhanced peace of mind when it comes to protecting their homes. The partnership will expand the suite of services available within Hippo’s extensive… Continue reading Hippo Insurance and SimpliSafe Partner to Offer Homeowners Insurance Policy with Home Alarm Devices
Swiss Re, IKEA Team Up on Home Insurance
Swiss Re’s iptiQ and IKEA on Tuesday announced the launch of HEMSÄKER, a home insurance offering which provides easily accessible protection at an affordable price. HEMSÄKER, which can be purchased online via the IKEA website in a matter of minutes, was created to extend home insurance to more people and in turn increase their financial… Continue reading Swiss Re, IKEA Team Up on Home Insurance
New Assessment Shows 450 Structures Damaged by Houston Blast
An updated assessment released Monday of the impact of a massive explosion at a warehouse in Houston that killed two workers and injured 20 others shows that 450 structures, mostly homes, were damaged. The new total is more than double the initial assessment of about 200 damaged structures after the explosion early Friday at a… Continue reading New Assessment Shows 450 Structures Damaged by Houston Blast
Insurify Raises $23M to Expand Marketing Efforts, Coverage Lines
Cambridge-based Insurify, a marketplace that lets users compare and shop for insurance online, raised $23 million in Series A financing. The round was led by MTech Capital and Viola FinTech, with participation from Hearst Ventures and two prominent insurance companies: Nationwide, and MassMutual Ventures. The company also offers products from leading insurance companies including Nationwide,… Continue reading Insurify Raises $23M to Expand Marketing Efforts, Coverage Lines