Property insurance premiums have surged, especially in states prone to natural disasters like Florida, Texas, and California. Insurers attribute these hikes to the frequency and severity of extreme weather events, along with increased costs for home repairs and construction.
Tag: insurance costs
Insurance Premium Hikes Strike Condo Associations
Insurance costs are exploding for condo associations across the U.S., raising the cost of homeownership and making it harder for some owners to sell their units.
Music Festivals Canceled This Year Reveal Rising Costs of Producing Large Events
For four decades, the Riverbend Festival delighted music fans in Tennessee with headlining acts like Lionel Ritchie and ZZ Top, but this year the show won’t go on.
Insurers Call for Federal Disclosure Rules on Third-Party Litigation Funding
Insurance industry representatives called for more transparency into third-party litigation funding and praised federal lawmakers for highlighting the issue during a Sept. 13 U.S. House Oversight and Accountability Committee hearing.
Agribusiness Taking Big Hits with Rising Insurance Costs
Elevators and other companies that purchase commercial agriculture facility insurance are “feeling a lot of pain” due to sudden, unexpected increases in insurance costs.
TCOR Up Two Percent in 2018 Due to Rising Insurance Rates
Businesses and organizations paid nearly two percent more in 2018 than they did in 2017 to cover the total cost of risk (TCOR), according to the 2019 Risk & Insurance Management Society (RIMS) Benchmark Survey. Reversing the trend of falling average TCOR per $1,000 of revenue seen from 2013 to 2017, average TCOR rose from… Continue reading TCOR Up Two Percent in 2018 Due to Rising Insurance Rates