The appraisal process in Minnesota has long been a cornerstone in resolving disputes over the value of insured property losses, focusing primarily on determining the cause of damage and the cost of repairs while leaving coverage issues to the courts. Recent judicial shifts have spurred a crucial
The devastating California wildfires have left lenders grappling with the complex issue of releasing insurance proceeds for the repair and restoration of damaged properties. As entire communities are laid to waste and property values significantly diminish, lenders face the daunting task of
The devastating wildfires that began on January 7, 2025, in Los Angeles have left a catastrophic trail of destruction, leaving thousands of residents displaced and causing damage to homes, businesses, and entire communities. With insured loss estimates currently exceeding $30 billion, many
The reinsurance market has entered 2025 with a significant surge in capacity and flexibility, driven by eased retrocession market conditions. This favorable environment has allowed reinsurance providers to meet the growing global demand for protection with more competitive and flexible terms. The
Moody's has recently adjusted its outlook for the global property and casualty (P&C) insurance sector from negative to stable for 2025. This significant change stems from various key factors, including enhanced pricing adequacy in personal lines and robust investment income. The revised outlook
The newly-announced Elevate Florida program, introduced at the Florida Chamber of Commerce Insurance Summit, is a comprehensive state-federal initiative aimed at mitigating flood risks and reducing insurance costs for homeowners. This program is designed to provide grants and low-interest loans to
