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Tag: property insurance


Regulatory / Legal

Florida insurance regulator sets 2022 rates for Citizens Property Insurance

June 27, 2022

Via: Insurance Business

Florida’s Office of Insurance Regulation (OIR) has established the personal property and commercial property insurance rates of Citizens Property Insurance Corporation – the state-backed insurer of last resort – for 2022. The OIR held a virtual public rate hearing to […]


Regulatory / Legal

How to Lower Home Insurance Premiums and Wildfire Risks

June 24, 2022

Via: Insurance Journal

Homeowners in the US got new guidance to help them defend against increasingly frequent wildfires and associated rising insurance premiums. The Insurance Institute for Business & Home Safety, a research nonprofit funded by insurers, announced it has developed the first […]


Financial, Risk Management

Revealed – what’s tearing apart Florida’s homeowners’ insurance market?

June 24, 2022

Via: Insurance Business

The Insurance Information Institute (Triple-i) has released a damning report which has warned that Florida’s current homeowners’ insurance market is “on the verge of failure,” thanks to rampant fraudulent roof repair schemes and excessive insurance litigation. Triple-I found that thanks […]


Regulatory / Legal

‘Well-to-Do’ Investment Firm Head Charged in $300,000 South Florida Insurance Fraud

June 23, 2022

Via: Insurance Journal

The head of a small, South Florida investment firm has been charged with insurance fraud after he submitted a $300,000 roof-leak claim to his insurer, American International Group, along with allegedly fake photos of mold and other damage to his […]


Regulatory / Legal

“Several quarters” before benefits of Florida reforms show: CaseGlide CEO

June 15, 2022

Via: Artemis BM

The insurance and reinsurance industry would have welcomed “reforms that helped the industry today” in Florida’s property insurance market, according to the CEO of CaseGlide, as notices of intent to litigate claims rose 10% in the state in May. That’s […]


Regulatory / Legal

High-Speed Lawmaking: Florida Governor Quickly Signs Insurance, Condo Reform Bills

May 27, 2022

Via: Insurance Journal

Florida Gov. Ron DeSantis signed property insurance and condominium maintenance reform legislation into law Thursday, putting an exclamation point on a whirlwind of lawmaking that began just a week ago when the bills were drafted and filed. “This package represents […]


Regulatory / Legal

Florida reform package makes “much-needed progress,” says NAMIC

May 24, 2022

Via: Reinsurance News

The National Association of Mutual Insurance Companies (NAMIC) has commented on Florida’s special session on the property insurance crisis, which it sees as an opportunity for the Legislature to pass critical reforms to address some of the most pressing issues […]


Cyber Risks, Risk Management

Cyber reinsurance premium to exceed property cat in decade beyond 2030: Gallagher Re

February 22, 2022

Via: Reinsurance News

Analysis by global reinsurance broker, Gallagher Re, finds that by 2040 the cyber market will become comparable in size to either property or casualty as the segment experiences a second wave of growth from 2023. Gallagher Re’s cyber reinsurance team […]


Financial, Risk Management

Florida P&C rate filings show reinsurance firming needs to continue

January 21, 2022

Via: Artemis BM

The latest property insurance rate increase filings submitted by carriers in Florida are calling for really significant uplifts in pricing, suggesting the primary market still believes more rate is required to support sustainable profits, which implies reinsurance firming also needs […]


News

Marshall Fire in Boulder, Colorado destroyed ~1,000 properties

January 3, 2022

Via: Artemis BM

The severe wildfire activity in Boulder County, Colorado is now estimated to have destroyed roughly 1,000 properties, with officials preliminarily citing 991 residential properties as completely destroyed, with another 127 damaged. These are not thought to be the final figures […]