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Francine Estimated to Cause $9B in Damage With $1.5B in Insured Losses
Sep 13 2024 // A preliminary estimate shows total damage and economic loss from Hurricane Francine in the U.S. is expected to be $9 billion. The storm effects are continuing to be felt, and some areas have yet to report complete...
Hurricane Debby Florida Losses Top $121M; 60% of Claims Closed
Sep 11 2024 // A month after Hurricane Debby made landfall in northern Florida, the number of property insurance claims has reached almost 20,000, and total estimated insured losses are more than $121.5 million, the Florida Office of...
California Policyholders May Be On the Hook for Wildfire Losses
Sep 9 2024 // California homeowners could be required to pay a surcharge if the state’s insurer of last resort is unable to cover losses from a catastrophic wildfire. The California Department of Insurance sent a bulletin to...
London’s ExCel Centre Wins Insurance Appeal Over COVID-19 Losses
Sep 6 2024 // The owners of London’s ExCel conference center on Friday won an appeal brought by insurers, including Allianz, over pandemic-related losses, which its lawyers said could help thousands of other policyholders. London...
Update: NYC’s Largest Cab Insurer Ordered to Explore Sale After Losses
Sep 6 2024 // New York’s insurance regulator ordered American Transit Insurance Co. to immediately find capital and explore a sale in a damning report laying out its severe financial condition. The report laid out dozens of...
New Hampshire Approves 5.6% Workers’ Compensation Loss Cost Decrease for 2025
Sep 6 2024 // The New Hampshire Insurance Department (NHID) reports that it has approved a workers’ compensation rate proposal that will reduce voluntary loss costs by 5.6% on average. The new lower rates will apply to voluntary...
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