property insurance News

Takeaways from Our Conversation on Cannabis Sales at Circle K

Circle K’s deal with Green Thumb Industries to sell cannabis at some of its Florida gasoline retail locations may be a sign the industry has finally crossed any remaining mainstream barriers. Green Thumb CEO Ben Kovler told Bloomberg the deal …

Washington Calling out Flaw in Elevators Installed Before 2018

The Washington State Department of Labor & Industries is urging property owners with older residential elevators make safety improvements to prevent danger to children. In many elevators installed before 2018, there’s a gap between the house-side door and the elevator …

Viewpoint: Wildfires Should be California’s No. 1 Priority When it Comes to Climate Change

In an Executive Order dated September 25, California Gov. Gavin Newsom directed all agencies of state government to double down on their efforts to address climate change. The governor, state agencies and the Legislature are spending billions of dollars in …

Opinion: Consumers Pay the Price as Regulatory Interference Drives Property Insurance Market Instability

Many states are facing a growing affordability and availability crisis in property insurance markets, and it’s not just because of climate change. While climate change is leading to more severe and frequent natural catastrophes, the insurance industry has made significant …

$5M in Grants Earmarked for Flood-Impacted Montana Businesses

Montana Gov. Greg Gianforte is making up to $5 million in grant funding from Montana’s bed tax fund available to businesses that have been impacted by destructive flooding in southern Montana. Gianforte’s office announced the grant funding, and said more …

How to Lower Home Insurance Premiums and Wildfire Risks

Homeowners in the US got new guidance to help them defend against increasingly frequent wildfires and associated rising insurance premiums. The Insurance Institute for Business & Home Safety, a research nonprofit funded by insurers, announced it has developed the first …

Yellowstone Park Aiming for Quick Reopening After Floods

Most of Yellowstone National Park should reopen within the next two weeks, much faster than originally expected after record floods pounded the region last week and knocked out major roads, federal officials said. Yellowstone Superintendent Cam Sholly said the world-renowned …

Home, Commercial Rate Hikes Not Enough to Offset Construction Costs: Moody’s

To counteract rising construction material costs that have increased about 26.7% the first four months of 2022, personal and commercial property insurers will continue to gradually increase rates, said Moody’s Investor Service. The rating agency said insurers have been “raising …

FAIR Plan Launches Higher Coverage Limits for Commercial, Business Properties

The California FAIR Plan is now offering increased coverage limits for commercial and business properties. The higher limits are being made available in response to customer requests for FAIR Plan coverage of higher value commercial properties. California Insurance Commissioner Ricardo …

Fire Destroyed Northern California Home Depot Store

A weekend fire gutted a Home Depot store in the San Francisco Bay Area, sending up a huge plume of smoke and prompting orders for some nearby residents to shelter in place, authorities said. The five-alarm blaze in South San …