Severe convective storms (SCS) are emerging as a major driver of U.S. property insurance costs, with large hail events alone damaging nearly 600,000 homes in 2024, according to an analysis by CoreLogic. SCS weather events, which include damaging hail, tornadoes, straight-line winds and derechos, are becoming a significant driver of insured natural disaster losses across … Read more
In a prosecution that local news outlets had called “stunning,” a New Jersey judge has made an equally stunning dismissal of corruption and racketeering charges against insurance executive and Democratic power broker George Norcross III and five co-defendants New Jersey Attorney General Matthew Platkin said the case is far from over. “We disagree strongly with … Read more
Renters insurance is something that many people forget they need when living in rental homes, especially in a lively and varied state like California. Is Renters Insurance Required in California? California has different types of urban areas, coastal regions, and earthquake risks, making renters insurance not just a good idea but a must-have. Many renters … Read more
In insurance circles Florida and California have the dubious distinction of being perennial problem children for home and auto insurance. In both states insurance markets have been severely disrupted by unique factors unknown in any other state. In Florida, the disruptor was litigation gone wild. Florida is home to “nearly 80 percent” of the entire … Read more
South Carolina’s liquor liability insurance market is in crisis, with insurers losing an average of $1.77 for every $1.00 of premium earned since 2017, while claim frequencies significantly outpace neighboring states, according to a recent study by the state’s Department of Insurance. The comprehensive analysis, initiated following a 2019 request by the South Carolina Senate … Read more
