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
The year 2025 promises to be an intriguing period for European and UK property and casualty (P&C) insurers as they navigate an increasingly efficiency-focused market. In recent developments, primary insurers have outperformed reinsurers in terms of share price for the year 2024, largely due to
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
The Fort Myers Beach community in southwest Florida is grappling with a significant decision by FEMA that could impact its recovery from Hurricane Ian in 2022. FEMA has announced that this area will lose its flood insurance discounts due to improper rebuilding practices in designated flood zones.
