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Missouri-based Cameron Mutual and Arkansas-based United Home Insurance Company were placed into court-ordered liquidation this week after struggling to pay claims from severe convective storms. -
The bill would spur development of a crop insurance policy to cover losses caused by cold exposure and freezes.
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The move reflects years of weak profitability caused by high cost inflation and cat losses.
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Insurers have paid out $673.3mn in claims through September 30 for residential losses related to the August fires.
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Susan Arnold, co-vice chair of NAIC’s P&C Insurance Committee, also urged passage of legislation exempting mitigation grants from taxation.
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The Z-Fire modeling tool factors wildfire mitigation efforts into the rate-setting process, potentially lowering insurance premiums.
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Marsh cites its primary listing on the NYSE, along with the costs and administrative burdens of listing on LSE, as reasons for delisting.
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The most important factors driving insured losses over the years include hurricanes, other weather-related events, inflation, and excess litigation.
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Insurance regulators in California and other states signed off much-needed personal lines rate hikes in September.
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Inside P&C’s news team brings you all the top news from the week.
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A summary of commentary from the second day of Inside P&C New York, with insights on InsurTechs, MGAs and Vesttoo.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
