Home-insurance companies are trying to claw back steep underwriting losses by hiking rates, or pulling back from disaster-prone areas.
Tag: homeowners insurance
Homeowners Putting Off Home Upkeep, Risking Damage
New Agency Forward survey suggests many U.S. homeowners are not prioritizing maintenance, even if it jeopardizes their property.
More than 50,000 to Lose Homeowners Insurance as Two More Insurers Exit California
AmGUARD Insurance—a subsidiary of Berkshire Hathaway GUARD Insurance Companies—will withdraw its homeowners and personal umbrella programs in California, while Falls Lake Insurance will also end its homeowners program.
Kemper Announces Exit from Preferred Home and Auto Business
Kemper Corporation announced on Monday that it is exiting the preferred home and auto insurance market, sold through its Kemper Personal Insurance brand, and will actively reduce the business immediately, with all policies being non-renewed or canceled in accordance with applicable state regulations.
State Farm to Remain in Florida as Farmers Insurance Pulls Out
Gov. Ron DeSantis’ office confirmed that State Farm Insurance plans to continue its presence in the Florida insurance marketplace after Farmers Insurance declared plans to leave the state.
Florida CFO Threatens Investigation of Farmers Insurance Amid Exit
Florida Chief Financial Officer Jimmy Patronis announced on Tuesday that his department would look into complaints against Farmers Insurance, which is set to exit Florida’s insurance market.
More Americans Are Losing Homeowners Coverage Due to Storms, Lawsuits and other Factors
Many Americans should start planning now for the growing possibility that their home-insurance provider won’t renew their coverage.
APCIA Responds to Wall Street Journal Editorial on California Insurance Marketplace
Insurers do not want to retrench in one of the nation’s most important markets, but cannot continue to operate and deliver on our promises when we cannot manage our own risk exposure. Insurers must have the financial strength to deliver on our promises to policyholders when disaster strikes.
Property Insurers Curb New Policies in Cat-Prone Areas Nationally
Insurance companies are pulling back on homeowners’ policies in vulnerable areas nationally out of fear of floods, storms and fires made worse by climate change and soaring costs of rebuilding.
California Insurance Commissioner Says He Can’t Take Action Against State Farm
California Insurance Commissioner Ricardo Lara does not plan on taking any action against State Farm after the insurance giant announced it was no longer accepting applications for new home insurance policies last month.