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LATEST NEWS - INSURANCE MARKET


L.A. Wildfires as much as $164 billion in total property and capital losses - Feb 4 2025

Costliest Climate Disasters of 2024..More than $229bn, Killed 2,000 - Dec 31 2024

US Social Inflation Crisis and Liability Rates (Update) - Dec 6 2024

Insured Losses From Natural Disasters Top 100 Billion for 5th Consecutive Year - Dec 6 2024

Milton Estimates 30-50 Billion says Verisk - Oct 16 2024


ANNUAL SITE PAUSE

IMPORTANT:  After 6/1/2024, this site was PAUSED (not updated) until October when the  

process/cycle started again.

  • If you changed brokers in 2024, we had advised that any money you saved be saved to offset the future risk of rising rates with some coverages up 70% in 2025.

NOAA issues most aggressive hurricane season on record - May 23 2024

Insurance Rates are Up due to 40 year high Inflation (video) - April 11 2024

2024 CSU Hurricane Forecast - 4 April 2024

State Farm credit rating downgraded from A to B - 28 March 2024

US Homeowners Insurance up 55.47% since 2019 - 14 March 2024

2024 Forecast "Hurricane Season From Hell" - 4 March 2024

California - State Farm leaves after monster 2023 losses - 1 March 2024

Hawaii insurance rates skyrocket 100%-1000% after wildfire - 1 March 2024

Florida - Insurer of last resort is "not solvent" - 29 February 2024 

Louisiana - Worst insurance crisis in history - 29 February 2024

Texas Wildfire - Update - 28 February 2024

Global insurance markets have stabilized - 26 February 2024

Affordability crisis and importance of Risk Management - SwissRe - 20 February 2024

Florida homeowners set to go up another 50% - 12 February 2024

Massive California Storm causes 10's of billions in damage - 6 February 2024

Federal Catastrophe Property Backstop will Increase Premiums - 23 January 2024

Federal Excess Property / Reinsurance Concerns - 15 January 2024

Auto insurance rates soar 20%+ in US - 12 January 2024

2023 confirmed as world's hottest year on record - 9 January 2024

Massive Earthquake Hits Japan triggering tsunami warnings - 1 January 2024

Record High Monthly Illegals Enter US including some on Terror. Watchlist - 31 December 2023  

California unprecedented coastal waves 24-40 foot high - 30 December 2023

Weather anomaly warnings / disequilibrium not normal - 27 December 2023

State Farm's loss ratio hits record high - 20 December 2023

Bank of America says hard insurance market will continue to 2024 and beyond - 18 Dec. 2023

Winter Hurricane/Bomb Cyclone Hit US - 17 December 2023

Argentina Hit By Massive 100 mph Storm - 16 December 2023

2024 Atlantic hurricane season forecast is 50% above norms - 11 December 2023

Worsening of heatwave, droughts, wildfires, and floods - 27 November 2023

Hard Property insurance market expected to continue into 2024 - 21 November 2023

US Debt Interest Payments Nearly Double vs. 2020 - 16 November 2023

More insurance companies exiting California - 14 November 2023

Allianz reports highest natural cat ratio in a decade for Q3 - 10 November 2023

Four critical factors behind spiking non-catastrophic losses - 2 November 2023

Some Insurance Company Issues/Layoffs - October 2023

  • Liberty Mutual slashes around 850 jobs or 2% of its workforce
  • Prudential insurance division to cut 243 positions
  • GEICO lays off 6% of workforce
  • Farmers cuts 2,400 jobs
  • Allstate lays off 8% of its workforce
  • Assurant cuts 442 jobs and closed two locations
  • Hippo Insurance lays off 20% of its workforce
  • Aetna plans another round of layoffs, 600 total cuts

North Carolina says "perfect storm in the next 12-18 months" - 12 October 2023

Illinois Property Insurance Rates up 30% - 18 September 2023

Hurricane Lee set to be a Record Cat 4 Storm - 08 September 2023

National Property Insurance Crisis Sparks Senate Hearing - 08 September 2023 

Hurricane Idalia hits US as Cat 4 Storm - 30 August 2023

Tropical Storm Idalia forms - State of Emergency in most of Florida - 27 August 2023

California hit by first tropical storm in 84 years - 17 August 2023

Hawaii wildfire sets deadly record - 13 August 2023

Severe thunderstorms account for 70% of Catastrophic Losses - 10 August 2023

FL Governor unprecedented skyrocketing insurance premiums and cancellations - 17 July 2023

US Heat Waves Continuing Across Country - 09 July 2023

Nationwide also takes action to pull back in California - 20 June 2023 

AIG & Farmers also reported to pull-back from some catastrophe risks - 9 June 2023

Allstate stops issuing new policies in California - 6 June 2023 

Property Catastrophe Rates up 33% on June 1 Renewals - 1 June 2023

Hard market (rising premium) conditions intensify in commercial property - 31 May 2023

State Farm decision highlights challenges in California's property market - 30 May 2023

NOAA Predicts Near-Normal 2023 Atlantic Hurricane Season - 23 May 2023

  • El Nino, Above Average Atlantic Sea Temperatures 

FEMA Releases New Flood Insurance Rates by Zip Code, Brace For Impact - 22 May 2023

D&O Prices Plummeting - Record Low Level - 22 May 2023

Higher Property Rates are here to stay, no wishful thinking - 1 May 2023

Insurers still wary on property catastrophe pricing - 24 Feb 2023

Property Insurance rates expected to jump another 40-50% in June - 17 Feb 2023

Turkey hit by M7.8 earthquake - 6 Feb 2023

US January Property Rates up 30%+, nearly 20 year high - 2 Feb 2023

Home Property Insurance Outlook - 1 Feb 2023 

  • 2023 expectations of 20%-200%+ increases

Renewals See Hardest Property-Catastrophe Insurance Rates in a Generation - 23 Jan 2023

Florida Homeowners Insurance Expected To Average 40% Increase - 19 Jan 2023

  • we are personally hearing of non-renewals and 100% increases as a norm

Property insurance rates to keep surging in 2023 - 10 Jan 2023

Catastrophe exposed rates continuing to rise fast - 9 Jan 2023

Rates now 165% higher than 2017 lows - 4 Jan 2023

No ILS capital coming to the rescue - Steve Evans | 20 Dec 2022

Attachment doubling, US renewals close with holes - 20 Dec 2022

Florida Property Surplus Down 23%, Loss Ratio at 147% - Steve Evans | 12 Dec 2022

Hurricane Ian's influence will be felt by all - Steve Evans (Swiss Re) | 9 Dec 2022

50%+ rate rise for US Property Reinsurance - Steve Evans (Goldman Sachs) | 8 Dec 2022

Hard insurance market will spell end for many - Fiona Robertson | 6 Dec 2022

Inflation will make 1/1 reinsurance renewals challenging - Market Insight | 6 Dec 2022

Grim picture for January 1 property reinsurance renewals - Bethan Moorcraft | 30 Sept. 2022 

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