homeowners insurance News

Push to Lower Wildfire Risk Across West Stumbles in Places

Using chainsaws, heavy machinery and controlled burns, the Biden administration is trying to turn the tide on worsening wildfires in the U.S. West through a multi-billion dollar cleanup of forests choked with dead trees and undergrowth. Yet one year into …

FEMA Denies Georgia County’s Request for Help After March Tornado

Months after an EF-3 tornado tore through a Georgia county southwest of Atlanta officials said a federal agency has denied its request for additional help in the recovery. ”Obviously we’re extremely disappointed that the (disaster) declaration didn’t go through,” Troup …

Nevada Law Signed to Help Homeowners Move from Sinking Nevada Neighborhood

A North Las Vegas neighborhood is marking passage of a state law committing $37 million to help homeowners move from the once- segregated neighborhood where geologic features have made homes crack, sink and sometimes become unsafe. Democratic state Sen. Dina …

Washington Rule Requires Insurers to Tell Policyholders Why Their Premium is Going up

Washington Insurance Commissioner Mike Kreidler adopted a rule requiring insurers to explain premium increases to their policyholders “in language they can understand.” “If your insurance company is going to increase your premium, you have a right to know why,” Kreidler …

New Home Construction Surges by Most in 3 Decades in May

Groundbreaking on U.S. single-family homebuilding projects surged in May by the most in more than three decades and permits for future construction also climbed, suggesting the housing market may be turning a corner after getting clobbered by Federal Reserve interest …

Washington Workshop to Address Increased Auto Insurance Complaints

Washington Insurance Commissioner Mike Kreidler is holding a workshop to hear from consumers, insurers and other parties on the reasons about auto and homeowners insurance issues being reported “at a record pace.” The Office of the Insurance Commissioner reported a …

Report: Wildfire Fears at ‘All-Time High’ and Driving Insurer Decisions in Property Market

Despite a relatively average 2022 wildfire season, fears of wildfires remain at an “all-time high,” and those fears appear to be one driver of decision-making on property insurance. A new report from Gallagher Re shows the threat of damaging wildfires …

Colorado’s Most Destructive Wildfire Caused by Embers From Old Fire, Sparks From Power Line

Embers from a smoldering scrap wood fire outside a home days earlier and a sparking power line caused a Colorado wildfire fanned by high winds that destroyed nearly 1,100 homes and left two people dead, authorities said. The Dec. 30, …

Climate Change and Homeowners’ Insurance Are on a Collision Course

A summer that has already seen water crises and wildfire smoke is rapidly becoming an inflection point in the pitched battle between climate change and the price of homeowners’ insurance in the US. American International Group Inc., which has already …

Hawaii’s Active Kilauea Begins Erupting After 3-Month Pause

Kilauea, one of the most active volcanoes in the world, began erupting on Wednesday after a three-month pause, displaying spectacular fountains of mesmerizing, glowing lava that’s a safe distance from people and structures in a national park on the Big …