What may be the first hijacking of an active real estate listing online — a palatial mansion overlooking the Pacific Ocean in Bel Air, Calif. — has led to a lawsuit seeking $60 million in damages against home-sale marketing company Zillow. One or more hackers seized control of the mansion’s listing page on Zillow’s popular… Continue reading Zillow Faces $60 Million Suit Over Hacked Listing of L.A. Mansion
Tag: homeowners insurance
Trends in Online Insurance Purchasing Habits Point to Enhanced Opportunity for Agents and Brokers
A new survey from Chubb, “Winning the New Client Journey,” finds that more than half of consumers (53%) have shopped online for homeowners insurance in the past 12 months, and 61% are likely to do so in the future. According to Chubb, this trend in researching and shopping online underscores an enormous opportunity for agents… Continue reading Trends in Online Insurance Purchasing Habits Point to Enhanced Opportunity for Agents and Brokers
State Farm Returns to Profit in 2018
In 2018, State Farm experienced a property-casualty underwriting gain, as well as increases in total revenue, net income and net worth. As the number one Auto and Homeowners insurer in the U.S., State Farm remains committed to serving its policyholders. The State Farm property-casualty (P-C) group of companies reported a combined underwriting gain of $1.7… Continue reading State Farm Returns to Profit in 2018
RMS Releases New Model to Empower Reinsurers to Address Pervasive Wildfire Risk
RMS, the world’s leading risk modeling and analytics firm, announces the release of the RMS U.S. Wildfire High Definition (HD) Model, the most comprehensive solution available for addressing wildfire risk across the Contiguous United States (48 States). Since 2014, devastating wildfires have unleashed more than USD $30 billion in claims and five of the 10… Continue reading RMS Releases New Model to Empower Reinsurers to Address Pervasive Wildfire Risk
Many CA Homeowners Forced to Turn to Nonstandard Insurers in the Wake of Wildfires
Californians who want to insure their homes against the next wildfire are paying a price for two years of record-breaking blazes. Home-insurance companies in the Golden State are canceling some policies, refusing to sell new ones in certain areas and applying for rate increases as they look to reduce wildfire risk. “It’s getting harder and… Continue reading Many CA Homeowners Forced to Turn to Nonstandard Insurers in the Wake of Wildfires
Personal Lines Rate Changes Driven by Improved Margins and Desire for Growth: KBW
Much-improved margins and the accompanying, and predictably widespread, desire for top-line growth should translate into steadily-declining personal lines rate changes, according to Keefe, Bruyette & Woods (KBW). KBW expects most commercial lines’ rates to rise in response to weak underwriting profits, although workers compensation rates should keep falling, probably more slowly than in 2018. Analysts… Continue reading Personal Lines Rate Changes Driven by Improved Margins and Desire for Growth: KBW
2018 Third Consecutive Year of Above-Average Catastrophe Activity: CoreLogic
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its annual Natural Hazard Report, which addresses the recent wildfires in California and severe rainfall- and hurricane-induced flooding throughout the nation as the leading catastrophes in 2018. Much like 2017, last year was an above-average year for hurricanes, flooding, wildfires and severe… Continue reading 2018 Third Consecutive Year of Above-Average Catastrophe Activity: CoreLogic
Travelers Underlying Underwriting Results Help Offset Higher Cat Losses
Travelers reported fourth quarter core income broadly in line with Wall Street forecasts despite higher cat losses and lower reserve releases as better underlying underwriting performance, higher investment income and a lower tax rate boosted the bottom line. The US insurance giant also made further steady progress in achieving rate rises on its business insurance… Continue reading Travelers Underlying Underwriting Results Help Offset Higher Cat Losses
Corporate America Tallies the Mounting Costs of Climate Change
Bank of America Corp. worries flooded homeowners will default on their mortgages. The Walt Disney Co. is concerned its theme parks will get too hot for vacationers, while AT&T Inc. fears hurricanes and wildfires may knock out its cell towers. The Coca-Cola Co. wonders if there will still be enough water to make Coke. As… Continue reading Corporate America Tallies the Mounting Costs of Climate Change
Chubb Projects 4Q Net Catastrophe Loss of $585 Million Before Taxes
Chubb Ltd. estimated fourth-quarter catastrophe losses at $585 million before taxes, or $505 million after taxes. In December, Chubb projected losses tied to the California wildfires would amount to about $225 million before taxes and estimated that Hurricane Michael losses would be closer to $250 million. On Friday, it said losses tied to the California… Continue reading Chubb Projects 4Q Net Catastrophe Loss of $585 Million Before Taxes