Homeowners' insurance

The Senate Budget Committee, chaired by Democratic Senator Sheldon Whitehouse, is seeking information on plans to address increased underwriting losses from extreme weather events.

Cedeño Camacho will expand his insurance carrier holdings to North America.

Carriers have sought to restore profitability through a mix of rate hikes, policy restrictions and localized non-renewals and moratoriums on new business.

Insurance Insider US’s morning summary of the key stories to get you up to speed fast.

Commissioner Lara’s 2019 mandate, ordering FAIR to offer a more comprehensive insurance package beyond its historical “fire-only” coverage, has now survived a second court challenge.

The office also said it has approved the assumption of 650,399 policies from Florida Citizens so far this year, a more than 800% increase from the previous year.

The Floridian was approved for 75,000 policies, made 72,958 offers and assumed 53,750 policies – a 74% acceptance rate.

Insurance Insider US’s morning summary of the key stories to get you up to speed fast.

The government funding bill signed by Biden on November 16 contains provisions extending National Flood Insurance Program to February 2, 2024.

The Insurance Insider US Research team walks buyers through valuation considerations for InsurTech MGAs, as capital constraints point to further consolidation.

The E&S personal lines insurer also named Malcolm Tsung as commercial lines product management VP and Scott Crozier for a similar role in the personal lines division.

Insurers have paid out $673.3mn in claims through September 30 for residential losses related to the August fires.