As the U.S. grapples with a surge in extreme weather and natural disasters, home insurance prices are continuing to skyrocket.
Tag: homeowners insurance
Orion180 Launches Homeowners Insurance Business in Alabama and Mississippi on Admitted Basis
Orion180, a premier provider of insurance solutions launched in 2018, began issuing homeowners insurance in noncoastal areas of Alabama and Mississippi this month through its admitted insurer Orion180 Select Insurance Co.
USAA Restricts Homeowners Coverage in California
Another home insurance provider will reduce future coverage in California, as other companies have done in previous months in response to costly wildfires.
Senate Committee Hears Testimony on Property Insurance Issues
From the Maui wildfires to Hurricane Idalia hitting Florida, extreme weather events have caused severe devastation to homes and businesses this summer. On Capitol Hill, consumer and affordable housing advocates sounded the the alarm Thursday on property insurance costs and availability during a Senate Banking, Housing and Urban Affairs Committee hearing. Douglas Heller, director of insurance at the Consumer Federation… Continue reading Senate Committee Hears Testimony on Property Insurance Issues
Best’s Commentary: Florida Losses from Hurricane Idalia Are Unlikely to Match Hurricane Ian’s
Insured losses in Florida related to Hurricane Idalia are unlikely to surpass those from Hurricane Ian last year given the storm’s path across the more sparsely populated Big Bend region, which has lower insured values than other coastal areas, according to a new AM Best special report.
How Billion-Dollar Hurricanes, Other Disasters Are Starting to Reshape Insurance Bills
As coastal residents pick up the pieces in Florida, Georgia and the Carolinas, the final price tag from Idalia is far from clear. But one thing is already known – the storm is yet another reminder that protecting homes with insurance is getting harder, riskier and more expensive.
Status of the Property Insurance Market in Florida
Florida is frequently the target of increasingly severe natural disasters like hurricanes, floods, and other calamities that drastically affect the property insurance market.
More Americans Are Opting Out of Buying Homeowners Insurance
Homeowners are increasingly forgoing home insurance, gambling that the likelihood of a disaster isn’t high enough to justify the cost of a policy.
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.
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.