Insurance

State Farm General Insurance Co. said it's no longer accepting new applications for property and casualty coverage in California last week, a year after Allstate Corp. also paused new policies, worsening what FAIR Plan, a state-mandated insurance pool, called a "looming insurance unavailability crisis." 

Mortgage lender's brokerage spinoff launches with more than 50 carriers.

Two professionals who advise servicers on compliance name their key areas of concern.

The Homeowner Flood Insurance Transparency and Protection Act would temporarily give consumers with higher rates the option to revert to previous lower pricing.

The company, one of the nation's top title underwriters, doesn't admit nor deny the officials' findings and will affirm its compliance with the agreement for 10 years.

The change, effective Dec. 21, is being put into place two years after it was first proposed.

Five days after Hurricane Ian slammed into the state — bringing with it a deadly storm surge, catastrophic flooding and powerful winds — the destruction it caused is becoming clearer.

The difficult job of rebuilding communities pummeled by Hurricane Ian is expected to be made even worse by a problem that's lingered since the early days of the pandemic: snarled supply chains.

Speaking with the consumer regarding the proper amount and type of insurance needed is the best way for lenders and servicers to mitigate the likelihood of default.

While commercial investors have begun to recognize the importance of anticipating extreme weather events in their business strategies, companies involved in residential transactions lag behind.

Rising insurance costs and pricier fire resistant building materials are testing how the second most expensive state responds to climate emergencies

Fannie Mae and Freddie Mac are mum on whether a temporary solution from Florida officials to support downgraded home insurance firms will pass muster for the enterprises' underwriting exceptions.

The company formerly known as UniversalCIS Credit Plus, which offers credit report services and appraisal technology, adds a new vertical to offer its mortgage lender clients.

Lawmakers on the Senate Banking Committee voiced some scattered support for changes to improve the finances of the National Flood Insurance Program, but comprehensive reform appears out of reach. 

The National Flood Insurance Program has been without a long-term reauthorization for five years, and it seems poised to stay that way after its first congressional hearing since 2019. 

As the National Flood Insurance Program goes into effect this month, more than 80 percent of existing policyholders are set to see rates climb and those gains will be spread largely evenly among rich and poor areas, according to a new report.

The Department of Housing and Urban Development’s inspector general said the Federal Housing Administration needs to improve guidance for servicers and improve controls.

Lenders and servicers that take a business-as-usual approach to managing their flood portfolios may be exposed to undue risk.

In a rare move for traditional financial institutions, the Texas bank and a fintech partner will offer quotes to a subset of the bank's customers.

In areas prone to natural disasters, first-year premiums could rise between 10% to 15% annually, but many appraisers are inaccurately calculating renewal hikes.