Insurance

Recent wildfire updates include the Federal Housing Authority's waiving of quality-control reviews and the upheaval of the state's commercial real estate space.

Insurers had already doled out more than $12 billion to pay for wildfire damages as of early March, according to California state officials.

Slow repair cycle times, widespread premium increases and the volume of catastrophic events all contribute to dissatisfaction, according to the U.S. Property Claims Satisfaction Study from J.D. Power.

The federal district court order in Mississippi allows allegations of servicer responsibility for insurance shortcomings and excessive costs to proceed.

The top five insurance companies have an average homeowners market share of 9.15% as of December 31, 2024.

Digital Insurance spoke with Jonathan Collura, president and CEO of Specialty Risk RE, about how reinsurers could stabilize the home insurance market in areas affected by natural disasters.

The provisionally approved rate hike would provide financial relief to State Farm's California subsidiary, which has said it needs to shore up confidence with solvency regulators and ratings agencies.

The National Flood Insurance Program, estimated to cover over 4 million homeowners, is set to lapse next Friday along with the federal budget.

The jump, which represents an ICE Mortgage Technology survey high, reflects the past cost of natural disasters like hurricanes in the Southeast.

California leads the nation with over 1.5 million at-risk properties, but many threatened homes sit east including $68 billion worth of Florida real estate.