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A report from the reinsurance broker said fast rate approvals are key to stabilizing the California marketplace. -
The NFIP’s strategy is to use "short-term borrowings" to meet what could be $10bn in claims.
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Citizens approved an average 8.6% rate hike and decreases for one-fifth of policyholders.
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The state is building an insurer of last resort from scratch, taking notes from California.
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The Florida of 2022 lacked stability and saw many carrier insolvencies.
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Democrats pushed back during the hearing, urging rules to encourage mitigation.
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The agency said it does not expect a “material impact” from the charge.
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The company says the recent wildfires will be the costliest in its history.
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Included are tweaks to state premises liability law and reforms to trial procedure.
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Commissioner Lara said 31,000 claims have been filed for disaster-related needs.
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James Keating received 20 months in prison and three years of supervised release.
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The NFIP and NOAA were both targets in the Project 2025 crosshairs.
