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News
Illinois orders 60-day notice on steep fire insurance premium hikes
5+ hour, 16+ min ago (418+ words) Insurance Business Illinois orders 60-day notice on steep fire insurance premium hikes A new rate-review clock and a data rule also reshape how carriers price coverage Illinois has a new deal for home insurers: raise a fire policy's renewal premium…...
Pricing relief cannot disguise rising HNW exposures: PURE President
12+ hour, 19+ min ago (873+ words) High-net-worth insurance is beginning to see pricing relief in parts of the homeowners market, but cybercrime, flood and wildfire are moving in the opposite direction as loss severity rises and exposures spread beyond historically high-risk locations. Dave Logan (pictured), president…...
Cottage owners are reviewing insurance the wrong way, broker says
1+ day, 12+ hour ago (440+ words) The advice most homeowners follow on reviewing their insurance is the wrong advice for a cottage, according to Katie Young (pictured), a sales broker at Mitch Insurance – and following it can leave a cottage owner badly underinsured when they need…...
Brokers face exposure as home sum insured gaps widen
1+ day, 8+ hour ago (335+ words) The gap between what Australian homeowners believe they are insured for and what it would actually cost to rebuild their homes has become a professional risk issue for insurance brokers – and the evidence base behind it is now coming from…...
Why Farmers' California business filing is a signal to go back to clients on the FAIR Plan
1+ day, 22+ hour ago (390+ words) Farmers Insurance's newly filed business insurance rating plan in California worth more attention from brokers than the headline rate figure suggests. "As one of the largest insurers of small businesses in California, we see a great opportunity to grow our…...
Why home insurance prices are quietly becoming a 2026 midterm flashpoint
2+ day, 10+ hour ago (614+ words) Insurance Business Why home insurance prices are quietly becoming a 2026 midterm flashpoint Why premiums may well have a big part to pay in the elections this year For most of the last decade, homeowners insurance sat somewhere near the bottom…...
Florida Blue capital dip points to tougher renewals
2+ day, 10+ hour ago (949+ words) For brokers placing individual ACA and group health business in Florida, the number that matters most in AM Best's latest rating action isn't the letter grade. It's what sits behind it: a capital hit tied to the same subsidy cliff…...
Forestry fire cover shrinks while mainstream insurers stay profitable
2+ day, 3+ hour ago (938+ words) Insurance Business Forestry fire cover shrinks while mainstream insurers stay profitable A class-specific withdrawal, not a market-wide one – and brokers should take note Two hundred thousand hectares of New Zealand commercial plantation forest have moved outside the insured fire pool…...
Edison Insurance Company files for 9.8% statewide rate decrease in Florida
2+ day, 20+ hour ago (379+ words) The reduction began impacting customers with policies renewing on July 15, with subsequent renewals also reflecting the lower rates. "These rate decreases reflect positive changes in Florida's insurance marketplace and the continued benefits of legislative reforms," said Paul Adkins, CEO of…...
Rebuild costs are outpacing sums insured - BCIS says drought is making it worse
2+ day, 11+ hour ago (559+ words) Insurance Business Rebuild costs are outpacing sums insured - BCIS says drought is making it worse Massive subsidence claims and a widening underinsurance gap mean brokers have a narrowing window to request updated rebuild-cost data before the next renewal, BCIS warns…...