While increasingly hostile weather has played a role in growing annual catastrophe losses that now average $132 billion globally, it’s actually non-hazard factors such as oil prices, construction materials, and labor costs that account …
The California wildfires could negatively impact homeowners insurance rates in Florida this year, Gallagher Re warns of a “new normal” for annual insured losses from catastrophes, plus the big pushback from the insurance …
The Congressional Budget Office (CBO) is out with its latest report, representing Congress’ ongoing effort to examine the property insurance market and determine if it has the juice to provide adequate, available, …
As we saw in the recent South Florida flooding, if it rains, it can flood. Mitigating the damage from the deluge has become a priority for many across the country – including economists at the …
Members of the U.S. Senate Budget Committee last week debated the root cause of the property insurance crisis affecting homeowners nationwide, with a wide range of culprits depending on who you ask. The Democrats were quick …
The U.S. Senate Budget Committee met last week to hold another hearing on how the climate is impacting insurance markets and rates (see our next newsletter story) but it missed the point by its ongoing focus, as we’ve …
This week a hearing was held in both the U.S. House Financial Services Committee and the U.S. Senate Committee on Banking, Housing, and Urban Affairs to discuss key insurance issues and lawmakers’ oversight of the Financial …
There’s another round of updated claims numbers to report from Hurricane Ian, the Florida Supreme Court decides an important statute of limitations on insurance lawsuits, plus the Federal Insurance Office weighs-in on how …
The Florida Legislature failed to provide additional reinsurance help to property insurance companies as private reinsurance firms remain largely standoffish on the Florida market, flood claims are rising from Hurricane Ian, pushback on whether …
2020 was a record year of hurricanes, with 12 named Atlantic storms making landfall, resulting in upwards of $65 billion in economic damage. Now AIR Worldwide is out with a new report modeling what we …
