As the cost of homeowners insurance continues to rise across the country, particularly in catastrophe-prone areas such as the West Coast and Florida, many luxury-home owners are seeking ways to reduce their premiums. Although the cost of coverage varies widely based on many factors, such as the size of a house, its age and location,… Continue reading Premium Discounts Available for Homeowners Insurance
Tag: homeowners insurance
Ally Financial to Offer Home Insurance with Hippo Partnership
U.S. online bank Ally Financial has agreed to a partnership with home insurance provider Hippo Holdings Inc that will allow it to offer home insurance policies for the first time, the companies told Reuters. Hippo will underwrite the policies on behalf of Ally as a “fronting carrier,” while Ally will assume their risk and put… Continue reading Ally Financial to Offer Home Insurance with Hippo Partnership
Hippo CEO Hopes Listing Will Fuel Better Insurance Coverage for Homeowners
Hippo Enterprises Inc wants to change homeowners’ insurance by using customer data to make it faster and easier to get coverage, Hippo’s chief executive said in an interview. The company, which has a $5 billion valuation and is due to go public through a blank-check company on Tuesday, is among a slew of “insurtech” listings… Continue reading Hippo CEO Hopes Listing Will Fuel Better Insurance Coverage for Homeowners
Insurers Won’t Save a Heating World from Floods and Fire: Bloomberg Opinion
There’s bad news for those looking for comfort in the face of flooding that’s inundated cities in China, Germany and India and wildfires that have consumed suburbs in California, Canada, and Australia: The insurance industry isn’t planning on hanging around to bail you out. An insurance rescue mission is such a routine aspect of natural… Continue reading Insurers Won’t Save a Heating World from Floods and Fire: Bloomberg Opinion
Porch Completes $100M Homeowners of America Acquisition
Porch Group, Inc., a leading vertical software company reinventing the home services industry, successfully completed its previously announced acquisition of Homeowners of America (HOA), making Porch one of the largest Insurance Technology (InsurTech) companies. HOA is a Managing General Agent and insurance carrier hybrid with high margins and a capital efficient reinsurance strategy which limits… Continue reading Porch Completes $100M Homeowners of America Acquisition
Insurers Dropping Homeowners Left and Right in Florida
You’ve paid your homeowner’s insurance for years and taken nothing in return. Unlike your neighbor down the street, you didn’t let a shady roofing company file a claim for damage from a long ago storm and get you a free roof. That’s not the klnd of person you are. But recently you might have opened… Continue reading Insurers Dropping Homeowners Left and Right in Florida
Meet the Home-Rental Firm Turning Tenants Into Homeowners
Most landlords hope their tenants stay put and pay rent forever. Promise Homes Co. wants its renters to move out and buy their own houses. The company has been acquiring occupied rental houses around Atlanta and northern Florida cast off by other big landlords and promoting homeownership to the tenants it inherits. Promise Homes dangles… Continue reading Meet the Home-Rental Firm Turning Tenants Into Homeowners
Homeowners & Flood InsurTech Company TypTap Raises $100 Million
HCI Group, Inc. subsidiary corporation, TypTap Insurance Group, Inc., is pleased to announce that a fund affiliated with Centerbridge Partners, L.P. has invested $100 million in the company. The investment, representing about 11.75% of TypTap, implies a post-money valuation for TypTap of approximately $850 million. TypTap is an InsurTech company. Its rapidly growing, technology driven… Continue reading Homeowners & Flood InsurTech Company TypTap Raises $100 Million
U.S. P&C Insurers See Record Losses from Texas Storms: Fitch
U.S. property/casualty insurers are expected to face record 1Q21 catastrophic losses due to extensive property damage from last week’s severe winter weather in Texas, Louisiana and other southern states. Extremely cold temperatures and ice are generating hundreds of thousands of claims from frozen/burst pipes, roof damage, power outages and lost business income that will pressure… Continue reading U.S. P&C Insurers See Record Losses from Texas Storms: Fitch
California Governor, Regulator Team Up for Wildfire Standards
California’s insurance regulator is joining with Governor Gavin Newsom’s administration in drafting standards to help protect homes and communities from wildfires. The “hardening” standards will apply to retrofits for older existing homes, in an attempt to help owners find and keep fire coverage, the California Department of Insurance said earlier this week in a statement.… Continue reading California Governor, Regulator Team Up for Wildfire Standards