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Up-to-date building codes could reduce the amount insurers pay in the Caribbean by 18%, according to the risk modeller. -
The broker’s “State of the Market: Real Estate” report says little change is expected in the property insurance marketplace for the rest of the year, but talk of more moderate rate increases in 2024 is “gaining momentum” specific to loss-free, properly valued and attractive accounts.
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In 2022, Texas ranked third in incurred losses behind Florida and California, clocking in at $53bn, according to data from the Insurance Council of Texas.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Q2 marked the 23rd consecutive quarter of year-over-year property rate increases, with rates rising 21% on average and further increases expected for the rest of the year.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Administered by FEMA, the NFIP holds 4.7 million policies in force and provides $1.28tn in coverage across 56 US states and jurisdictions.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Lara's plan, backed Thursday by an executive order from California Governor Gavin Newsom, repackages elements of a proposed bill that collapsed earlier this month.
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Rating agency cites elevated underwriting results from convective storms, cat events in core states of operation.
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Insureds that have taken higher retentions or less limit due to increased cost could be exposed this year if there is a major cat event, according to Swiss Re’s Kyle Burnett.
