property insurance News

1 Person Killed, Homes Destroyed After Tornado Rips NE Kansas

WESTMORELAND, Kan. (AP) — One person died Tuesday when a tornado ripped through the small city of Westmoreland in northeastern Kansas, destroying houses, RVs and outbuildings, authorities said. Pottawatomie County officials said on Facebook that a tornado struck the city …

Southeast Seas Rising Faster Than Other Regions, ‘Turbocharging’ Floods, Report Finds

From the Rio Grande to the Outer Banks, sea levels are rising faster than most other parts of the world, blocking the outflow of rivers and streams and causing inland flooding that would not have been seen just a few …

Growing Wildfire Risk Leaves States Grappling With How to Keep Insurers From Fleeing

Months after a catastrophic fire burned more than 2,200 homes in Hawaii, some property owners are getting more bad news—their property insurance won’t be renewed because their insurance company has deemed the risk too high. It’s a problem that has …

UK’s Second Biggest Mortgage Lender Pulls Offers Over Flood Risk

The UK’s second biggest mortgage provider has stopped making loans on homes at risk of flooding, over fears they may become uninsurable — and therefore, unsellable — over the coming years. Nationwide Building Society uses mapping technology to identify which …

Berkley CEO: Property E&S Momentum Slows but ‘Some More Hay’ to Be Made

When it comes to observations of the excess and surplus lines market, there is a difference between the momentum of liability and property lines, said W.R. Berkley CEO W. Robert Berkley, Jr. Addressing some talk that has painted a picture …

Coral Gables, Florida Tops Beverly Hills as Ritziest Home Market in US

Floridians with homes in the ritziest neighborhoods that include Coral Gables and Naples are experiencing the nation’s biggest increases in real estate wealth as markets in the Sunshine State supplant those in California and New York at the top. In …

Georgia Regulator Bars Home Warranty Company for Failing to Secure Bond

A home warranty firm is now prohibited from doing business in Georgia after a cease-and-desist order was issued, the state insurance commissioner announced. Choice Home Warranty did not secure a $100,000 surety bond as required by law, despite warnings from …

California Lawmakers Introduce Disaster Resiliency Bill to Aid State’s Insurance Issues

California representatives Mike Thompson (D-CA) and Doug LaMalfa (R-CA) introduced the Disaster Resiliency and Coverage Act of 2024. H.R. 7849 would provide homeowners in disaster-prone regions with incentives to harden their properties against wildfires and other risks. The legislation is …

Slow Recovery in Mississippi a Year After Tornado Ripped Town Apart

OLLING FORK, Miss. (AP) — As a deadly tornado barreled toward their home in the Mississippi Delta, Ida Cartlidge only had time to scoop up her 1-year-old son, Nolan, and hold him close. Cartlidge huddled with her husband and three …

Severe Weather Spawns Tornado, Damage and One Death in South, Midwest

Thousands of homes and businesses were without power Tuesday as severe weather roared through several states, causing at least one death and spawning possible tornadoes. Parts of Ohio, Pennsylvania, Kentucky, Mississippi, Alabama, Tennessee, West Virginia, Virginia and Georgia were under …