Homeowners insurance

Federal Reserve Chair Jerome Powell said insurance companies and banks are already pulling out of disaster-prone areas, which could pose problems.

California's insurance commission plans to impose a $1 billion assessment on private insurers to shore up the FAIR Plan.

The FEMA-operated program has over 4.7 million policies in force, and lawmakers have kept it intact via dozens of short-term extensions since 2017.

The nation's largest homeowners insurance providers imposed rate hikes in double-digit percentages last year, led by Farmers' 53.5% increase in Maryland.

Digital Insurance gathered comments from insurance professionals about what's ahead.

The insurance market going into the Jan. 7 catastrophe already had been hit with non-renewals and cancellations -- and an overburdened state-supported insurance plan. A Morningstar analyst said the state insurance commissioner's reform strategy could have turned it around but now faces new obstacles.

Los Angeles is bracing for critical wildfire conditions again as dry winds scour Southern California.

Californians have paid relatively less for coverage than homeowners in the storm-stricken Midwest and Southeast regions, according to Intercontinental Exchange.

Verisk and Moody's are the first two modeling companies to submit their models to the California Department of Insurance. A Verisk executive explained the functioning of their model and what insurers' options are.

A trio of blazes in SoCal have destroyed over 2,000 homes and structures in neighborhoods with average property values well above the national average.

The wildfires add pressure to California's home insurance market, which has faced a growing crisis in recent years.

The most destructive wind storm to strike the Los Angeles area in 14 years is fanning wildfires.

Fifteen percent of residences had three or more structures, which can go undetected by insurers even when they identify a secondary structure.

While insurers can't rebuild the grid, they are uniquely positioned to play an important role in mitigating these risks.

Data from the Environment Agency on Tuesday showed 6.3 million homes and businesses are in danger of damage from overflowing rivers, sea or drains.

California adopted a rule that aims to bolster access to home insurance in the state, after several major carriers retreated from the market amid growing risk of wildfires.

In California, wildfire readiness is quickly becoming a financial necessity.

Aviva Plc and Allianz SE are among potential bidders for Britain's home and motor insurance firm Esure Group Plc, according to people familiar with the matter.

Insurance providers could use digital-based strategies like home management platforms and homeowner AI tools to reduce claims and increase customer satisfaction.

Losses related to natural disasters and other perils rose for the seventh year, and that costs both insurers and consumers more money, LexisNexis said.