A wave of severe storms that brought hail and high winds to places such as Texas and a string of states in the central U.S. in recent months is wreaking havoc on insurers’ profits.
Tag: premium hikes
Marsh: Global Commercial Insurance Pricing Rose 4% in 1Q 2023
Global commercial insurance pricing rose 4% in the first quarter of 2023, the same as in the prior quarter.
Louisiana Citizens Wants 63% Rate Increase for Homeowner Policies Amid Insurer Failures
Louisiana Citizens Insurance Corp., the state’s insurer of last resort, wants to raise its already-high prices by more than half, following a dramatic increase in demand for coverage after eight private insurers collapsed and nearly a dozen others exited the state. The organization has asked the Louisiana Department of Insurance for a 63% rate increase… Continue reading Louisiana Citizens Wants 63% Rate Increase for Homeowner Policies Amid Insurer Failures
Florida Home Insurer Seeks $30 A Month Average Statewide Price Hike
The number of lawsuits against Boca Raton-based Edison Insurance Co. have doubled in each of the past three years, and now Edison says it needs all of its customers to pay the price. The company is seeking retroactive approval for a statewide average 21.9 percent rate hike scheduled to take effect Feb. 2 for new… Continue reading Florida Home Insurer Seeks $30 A Month Average Statewide Price Hike