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2 Florida home insurance companies aim to raise rates more than 50%
Amica Mutual Insurance and Castle Key Indemnity have requested the increases in the state Home insurance rate hikes are nothing new to Florida property owners, but a recent request made by two private...
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State Farm Registers $6.3 Billion Net Loss in Challenging 2023 Fiscal Year
Despite attempts to improve results following a substantial $6.7 billion loss in 2022, State Farm, a leading insurance giant, ended 2023 with a $6.3 billion net loss. The company cites a surge in...
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State Farm insurance company loses $6.3 billion in 2023
The insurer experienced a “significant” increase in catastrophic claims leading to the losses Last year, State Farm insurance company recorded a $6.3 billion net loss partially due to what the insurer...
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North Carolina Commissioner rejects proposal to increase insurance rates
Drivers and property owners are reducing their coverage to afford their premiums North Carolina Commissioner Mike Causey has announced that he recently turned down a request made by insurers to boost...
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Property owners in Florida are dropping their home insurance
Floridians are placing themselves at risk in the event that they face a natural disaster. As the cost of home insurance continues to increase tremendously in Florida, there is a growing number of...
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Biden-Harris administration calls for reduced commercial insurance drug costs
This would mean changes to the way the Inflation Reduction Act affects prescription medications. The Inflation Reduction Act prescription drug law developed by the Biden administration went into effect...
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Will this disaster break Lloyd’s of London’s marine insurance record?
The bridge collapse in Baltimore is a complex disaster and could be the largest ever The collapse of the Francis Scott Key Bridge in Baltimore at the end of last month could prove to be the largest...
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State Farm General Downgraded by AM Best Amidst Weakening Balance Sheet
Overview of State Farm Downgrade In a move that has caught the attention of policyholders and investors alike, AM Best has downgraded the Financial Strength Rating (FSR) of State Farm General Insurance...
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Many families in Louisiana are reaching home insurance desperation
The state has reached a crisis point in its property coverage market with prices headed steadily skyward. Families affected by the hurricanes that have hit the state in many years have already been...
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Consumer watchdog considers banning US title insurance
The Consumer Financial Protection Bureau is thinking about stopping this mortgage lender practice A leading consumer watchdog in the United States is thinking about whether mortgage lenders should be...
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Florida home insurance company fined $1 million for policyholder mistreatment
Victims of Hurricane Ian were mistreated by this insurer, which must now pay a fine One of the largest home insurance companies in Florida has agreed to pay a fine of $1 million after having been...
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Florida homeowners’ insurance customers are giving up on coverage
Skyrocketing rates have sent many property owners to choose to skip policies altogether A recently released report has underscored the continuation and growth of a trend in Florida in which home...
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Marsh offers tax insurance to support American clean energy investing
Marsh has announced its new solution to help boost available capital for investing Marsh recently announced the launch of its new tax insurance solution that it is calling its Tax Investment Default...
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What was behind Berkshire Hathaway’s Chubb insurance company purchase?
Warren Buffett’s company has been hiding a massive insurer purchase Berkshire Hathaway started buying again in Q3 2023 and has finally unveiled the largest publicly traded purchase that it has kept...
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Warren Buffett thinks cyber insurance market could see “huge losses”
Berkshire Hathaway and its head see a chance that this market will experience struggles Berkshire Hathaway recently held its annual shareholder meeting in Omaha, and there, top exec Warren Buffett and...
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USAA insurance company is profitable again after a bad 2022
That year was the first time in the insurer’s 102 years that it failed to bring in a profit The USAA insurance company has announced that it brought in a net income of $1.2 billion in 2023, following a...
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State Farm is keeping some California home insurance customers after all
Still, the coverage that they will be receiving won’t be the same as what they’re used to State Farm has announced that it will be making it possible for some California home insurance customers to...
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State Farm settles life insurance suit with $65 million payment
The insurer has agreed to pay tens of millions to settle the suit involving overcharges State Farm Life and Accident Assurance Company are issuing life insurance settlement checks as pay out for a...
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California Homeowners Face 34% Rate Hike as Allstate Follows State Farm’s...
LOS ANGELES: In a move that mirrors State Farm’s recent actions, Allstate is seeking a substantial increase in its California homeowners insurance premiums. First reported by the Los Angeles Times,...
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Record-Breaking Auto Insurance Shopping Trends: The Game-Changer Insurance...
The national auto insurance shopping and quoting rate reached a record high between April and June of 2024, signaling significant shifts in consumer behavior. According to a new J.D. Power report, this...
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