Homeowners insurance

Citizens Property Insurance Corp. reported that private insurance companies assumed 650,399 policies from the state's last-resort carrier in 2023.

Digital Insurance reached out to insurance professionals about property and casualty trends to expect next year.

Insurers are feeling the effects of the climate crisis but only 8% are currently attacking climate change head-on with strategic and proactive initiatives, according to Capgemini research.

Capco predicts a greater emphasis on collaboration between insurers and the DOI to ensure ongoing coverage for policyholders as the DOI will take on additional governance and responsibilities when partnering with insurers to protect insured individuals.

In a report published Monday, the International Association of Insurance Supervisors outlined key areas where supervisors can help improve the affordability, availability and uptake of insurance against natural disasters.

The digital lender's product comes amid soaring expenses for homeowner's coverage.

Nationwide is partnering with Resideo Technologies to offer its thermostats, fire, smoke and water leak detectors, and related home security solutions to its policyholders in a pilot program starting in early 2024, with policy discounts for their use, according to company officials.

Under the new rules, which are slated to be completed by December 2024, insurers will be able to raise premiums based on current and future risks as long as they agree to provide a certain share of coverage in areas vulnerable to fires. The existing rules only allow them to consider historical data.

Climate modeling and data collection technology is just beginning to catch up to the demand for pinpoint accuracy in property risk assessment.

There were about 40 funding events in the insurtech sector in September, according to a review by Digital Insurance.

The path to more effective hurricane preparedness lies in proactive planning, automation, and the efficient utilization of data and analytics.

Both commercial and homeowner insureds may have to turn to parametric insurance to cover losses as carriers leave markets and force states to cover the burden.

A combination of economic and environmental factors are sending property and flood coverage premiums soaring, which can make costs insurmountable for some.

First Street estimates that 39 million U.S. homes are insured at artificially suppressed prices compared with the risk they actually face. Of those, nearly 6.8 million homes are covered by state-backed "insurer of last resort" policies.

Plymouth Rock's VP of customer solutions focuses on improving communication.

Consumers continue to shop carriers for home and auto insurance in response to persistent rate increases.

Reeling from four hurricanes in 2020 and 2021 that caused $23 billion in damage, the state is undergoing an insurance calamity that is harming its economy and even reducing its population.

The storm is slamming housing markets already beset by some of the nation's highest property insurance premiums.

Looking at lessons from past disastrous fires, here are steps that can help reduce fire risk at the home and community level.

AI-powered catastrophe and risk models use varied sources, including aerial imagery.