Homeowners' insurance

Following the 2017 Tubbs Fire and the 2018 Camp and Woolsey fires, insurers cumulatively paid out more than twice as much in claims and expenses as they collected in premiums for both years.

The agency cited net underwriting losses, inflationary and supply chain pressures, and elevated reinsurance costs as factors leading carriers to pull back in cat-exposed US states.

Inside P&C’s news team runs you through the key highlights of the week.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The shareholders are among the company’s top 10 largest and hold nearly 2.5% of outstanding shares.

Investors include IA Capital Group, Blue Bear Capital, Gallatin Point Capital, and Avanta Ventures, among others

The additional funding brings Kin’s series D total to $142mn, and its overall equity funding total to $265mn.

Lawmakers were discussing legislation that would have facilitated insurance commissioner Ricardo Lara’s ability to implement more insurer-friendly regulations, but talks stalled with just one week left in the 2023 legislative session

Need to Know

Floridians will bear the brunt of Idalia's losses as a retention event, but reinsurers will reap the benefits of pricing.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Out of the roughly 88 claims received so far, some were storm surge claims that are not covered by the carrier, according to the executive.