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Property Insurance News


01/31/2025 01:05 PM
Rising Insurance Costs Challenge Multifamily Housing Industry
Severe storms, rising construction costs, and increased litigation are driving insurance rates higher for apartment owners, forcing them to adjust coverage, reduce claims, and rethink investment strategies.

01/30/2025 08:39 AM
Maryland Insurance Administration Recovers Over $33 Million for Policyholders in 2024
The Maryland Insurance Administration recovered nearly $33.3 million in 2024 by assisting consumers with insurance disputes, fraud investigations, and regulatory enforcement efforts.

01/29/2025 09:55 AM
Natural Disasters Caused $368 Billion in Damage Last Year, Aon Report Reveals
The 2025 Climate and Catastrophe Insight Report by Aon highlights how hurricanes, severe storms, and global flooding pushed disaster losses to $368 billion in 2024, exposing critical insurance gaps.

01/27/2025 08:04 AM
Florida’s House Bill Proposes Bold Changes to Windstorm Insurance
Florida’s HB13 aims to expand Citizens Property Insurance to provide windstorm coverage for all homeowners, addressing gaps in the private market and enhancing hurricane resilience.

01/24/2025 12:19 PM
How Wildfires in California Highlight Gaps in Public Understanding of Property Insurance
The fallout from California’s wildfires reveals a widespread lack of understanding about risk assessment, policy renewals, and the structure of insurance companies among the general public.

01/24/2025 12:07 PM
Does Florida’s Roof Age Rule Hinder Adoption of Hurricane-Resilient Roof Systems?
Builders argue that Florida’s 15-year roof age rule limits the use of advanced, wind-resistant materials, as insurers remain skeptical despite their potential to reduce hurricane losses.

01/24/2025 11:42 AM
California Insurance Commissioner Urges Advance Payments for Wildfire Survivors
California Insurance Commissioner Ricardo Lara is urging insurers to follow state laws requiring advance payments to wildfire survivors, aiming to accelerate recovery efforts in Los Angeles.

01/24/2025 11:00 AM
Cannabis Grower’s $1.3M Business Income Claim Denied After Fire Damages Crops
A federal court ruled that a cannabis grower’s business income loss was not covered by its insurance policy after a fire damaged crops but did not halt overall operations.

01/24/2025 09:20 AM
California Wildfires Drive Record Insurance Losses and Policy Changes
Moody’s projects $30 billion in insured property losses from Los Angeles County wildfires, highlighting the challenges of insuring high-risk areas and the strain on California’s FAIR plan.

01/24/2025 08:16 AM
Historic Snowstorm Brings Chaos to US South With Record-Breaking Cold and Snowfall
A rare snowstorm dumped record amounts of snow across the US South, causing travel chaos, frozen pipes, and widespread disruptions in states unprepared for such severe winter weather.