ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, reports that the increase in extreme weather events has long-term financial implications for consumers and their communities, according to the company’s newly released white paper titled “Extreme …
Citizens Property Insurance Co. officials recently told agents meeting in Orlando that Florida’s insurer of last resort is “as ready as they are going to be,” to face the 2006 hurricane season. Paul Palumbo, Citizens head actuary, appealed to independent …
The Louisiana House of Representatives wouldn’t go along June 18 with a Senate-backed plan that could alleviate some insurance hikes around Louisiana in the upcoming year, saying the money would be better set aside for potential emergencies. The Senate amended …
Although property casualty insurance capacity still exists in some areas in the U.S.’s east coast, the rate at which it is vanishing, especially in coastal areas, as well as the steep prices being offered for available capacity, have industry executives …
State Farm adjusts rates in Texas State Farm Insurance recently submitted several filings to the Texas Department of Insurance, aiming for a balance with rate adjustments that include a reduction auto rates but an increase in homeowners premiums. The company …
The prospect of another nasty hurricane season has everyone in the insurance industry braced for a white-knuckle ride. The spectre of a hurricane hitting a major Northeast population center is hardly the stuff of Hollywood fantasy. Leading forecasters agree there …
Six hurricanes in 2005 caused $57.3 billion in insured losses, according to Insurance Information Institute, with Hurricane Katrina alone accounting for $40.6 billion of that total. And while many of the stories in newspapers and consumer magazines regarding damage from …
Last year’s Katrina-Rita disasters left behind many obstacles to recovery for businesses and with the start of another hurricane season, companies need to prepare for a another wave of predicted natural catastrophes, according to Dallas-based Haynes and Boone LLP Insurance …
The Florida Hurricane Catastrophe Fund has received approval to borrow $2.8 billion in case it has to back up insurers during the hurricane season. The fund was created after Hurricane Andrew and provides reinsurance, basically insurance for insurance companies. Gov. …
State Farm Insurance recently submitted several filings to the Texas Department of Insurance, aiming for a balance with rate adjustments that include a reduction auto rates but an increase in homeowners premiums. The company also is offering a bigger discount …
