Category: Homeowners insurance

A $1 billion assessment announced Tuesday for California’s FAIR Plan, the state-mandated insurer of last resort, is expected to drive … Continue ReadingCalifornia's $1B insurer bailout deepens housing strains

Federal Reserve Chair Jerome Powell said insurance companies and banks are already pulling out of disaster-prone areas, which could pose … Continue ReadingFed's Powell warns climate change will affect housing market

California’s insurance commission plans to impose a $1 billion assessment on private insurers to shore up the FAIR Plan.

The FEMA-operated program has over 4.7 million policies in force, and lawmakers have kept it intact via dozens of short-term … Continue ReadingCongress to mull long-term fix for federal flood insurance

The nation’s largest homeowners insurance providers imposed rate hikes in double-digit percentages last year, led by Farmers’ 53.5% increase in … Continue ReadingHomeowners insurance prices soared in these states in 2024

Digital Insurance gathered comments from insurance professionals about what’s ahead.

The insurance market going into the Jan. 7 catastrophe already had been hit with non-renewals and cancellations — and an … Continue ReadingWildfires leave California insurance market on edge of collapse

Los Angeles is bracing for critical wildfire conditions again as dry winds scour Southern California.

Californians have paid relatively less for coverage than homeowners in the storm-stricken Midwest and Southeast regions, according to Intercontinental Exchange.

Verisk and Moody’s are the first two modeling companies to submit their models to the California Department of Insurance. A … Continue ReadingCalifornia allows wildfire cat models, waits for insurance industry reaction