Community Foundation grant to help DeSoto residents still recovering from Hurricane Ian
Community Foundation grant to help DeSoto residents still recovering from Hurricane Ian

A nonprofit agency created after Hurricane Ian to aid DeSoto County residents in need of disaster assistance has been awarded a $105,000 grant, the group announced on Tuesday. The Hope DeSoto Long-Term Recovery Group received the grant from the Community Foundation of Sarasota County. The…
Experts Urge Justices To Bar Insurer’s Ch. 11 Challenge
Experts Urge Justices To Bar Insurer’s Ch. 11 Challenge

Truck Insurance Exchange’s contention that it is a “party in interest” with standing to challenge its insureds’ Chapter 11 reorganization plan, which established a trust for asbestos injury claims, would upend the bankruptcy system if accepted, experts and policyholder representatives told the U.S. Supreme Court…
Grant to help DeSoto residents still recovering from Hurricane Ian
Grant to help DeSoto residents still recovering from Hurricane Ian

DESOTO COUNTY, Fla. (WWSB) – A nonprofit agency set up after Hurricane Ian to aid DeSoto County residents still in need of disaster assistance has been awarded a $105,000 grant, the group announced Tuesday. The Hope DeSoto Long-Term Recovery Group received the grant from the…
Call Kurtis: What to do if your home insurance company drops you?
Call Kurtis: What to do if your home insurance company drops you?

The Hartford Insurance is the latest company to say it will stop writing new homeowners’ policies in California starting Feb. 1. It cites challenges in the market, especially with the California fire risk. The industry says it’s struggled to get the Department of Insurance to…
Federal natural catastrophe backstop would increase premiums, reinsurers warn
Federal natural catastrophe backstop would increase premiums, reinsurers warn

Recent Bill INSURE Act has policyholder advocate backing but RAA has concerns The Reinsurance Association of America (RAA) has aired concerns that a federal natural catastrophe reinsurance program, like that mooted in the recently introduced INSURE Act, would add to insurance costs for Americans rather…
Uninsurable Homes Are Climate Change’s Latest Victims In The California and Florida Housing Markets
Uninsurable Homes Are Climate Change’s Latest Victims In The California and Florida Housing Markets

In a world grappling with extreme weather events and shifting insurance trends, the once-assured protection of homeowners’ insurance is becoming a luxury that many can’t afford. The housing markets in climate risk-prone states like California and Florida are facing an unprecedented crisis, as insurers grapple…
The least affordable housing market in more than a generation is facing another threat: Uninsurable properties
The least affordable housing market in more than a generation is facing another threat: Uninsurable properties

Garret Gray sort of laughs when he tells Fortune about how his house in a Los Angeles canyon was nearly uninsurable. Surrounded by brush, “it’s got a really bad CoreLogic fire score,” he says. And he should know: As the president of CoreLogic’s global insurance…
California should require insurers to cover homeowners who protect property, advocate says
California should require insurers to cover homeowners who protect property, advocate says

Carmen Balber, the executive director of the advocacy organization Consumer Watchdog, said she came to Sacramento recently to pitch legislators and their staff on a plan she hopes will help some Californians keep their property insurance. She wants lawmakers to require that companies sell policies…
Consumer Advocacy Organizations Question Insurance Commissioner Role in Anti-Consumer Legislation
Consumer Advocacy Organizations Question Insurance Commissioner Role in Anti-Consumer Legislation

The CA Dept. of Insurance is sponsoring a bill heavily influenced by life and annuity insurers that undermines what Biden’s Department of Labor has proposed to keep consumers away from unsuitable products Bill being rushed months before deadline harms consumers; no meaningful negotiations despite bill’s…
New bill to create $50bn federal backstop for catastrophe reinsurance
New bill to create $50bn federal backstop for catastrophe reinsurance

Democrat Representative Adam Schiff has proposed legislation in the US House of Representatives that would create a $50 billion federal backstop for catastrophe reinsurance. Schiff, a California Congressman who is seeking the Democratic nomination for the US Senate, said the Incorporating National Support for Unprecedented…
APCIA skeptical of legislation proposing a federal catastrophe reinsurance program
APCIA skeptical of legislation proposing a federal catastrophe reinsurance program

A trade body representing America’s insurers has expressed reservations about a new bill seeking to establish a federal catastrophe reinsurance program within the Department of Treasury. According to the American Property Casualty Insurance Association (APCIA), the bill could make coverage even more expensive for “vulnerable…
House Bill Would Create National Reinsurance Program
House Bill Would Create National Reinsurance Program

The U.S. Department of the Treasury would administer a new national reinsurance program under a $350 billion proposal that would also provide grants for risk-mitigation activities and cash payments for low-income Read more here
SCHIFF INTRODUCES BILL TO ENSURE HOMEOWNERS, VULNERABLE COMMUNITIES NOT EXCLUDED FROM CATASTROPHIC COVERAGE
SCHIFF INTRODUCES BILL TO ENSURE HOMEOWNERS, VULNERABLE COMMUNITIES NOT EXCLUDED FROM CATASTROPHIC COVERAGE

Today, Representative Adam Schiff (D-Calif.) introduced the Incorporating National Support for Unprecedented Risks and Emergencies (INSURE) Act to stabilize the home insurance market while ensuring vulnerable communities are not excluded from coverage. This legislation would create a federal catastrophic reinsurance program to insulate consumers from…
New York court to hear critical COVID business insurance case
New York court to hear critical COVID business insurance case

New York’s highest court is set to preside over a restaurant’s COVID-19 business interruption case that could have widespread ramifications for businesses and insurers in the state and further afield should the court veer away from a US-wide trend of insurer pandemic business income victories.…
Coastal homeowners could see up to 99.4% insurance rate increase
Coastal homeowners could see up to 99.4% insurance rate increase

The North Carolina Rate Bureau, an organization that represents insurance companies in the state, has asked the Department of Insurance to increase homeowners’ insurance rates by an average of 42.4%. In beach areas such as Brunswick, Carteret, New Hanover, Onslow and Pender counties, however, the…
State Farm to raise homeowners rates in California
State Farm to raise homeowners rates in California

Adjustment driven by “increased costs and risk” State Farm policyholders in California are bracing for higher home insurance premiums after regulators approved a rate increase for the insurance giant this year. The approved 20% adjustment applies to renewed policies and will be effective from March…
KVNF Regional Newscast: January 4, 2023
KVNF Regional Newscast: January 4, 2023

Coloradans can now get thirty percent off the price of electric lawn and garden equipment. A new state law that took effect this week offers a tax credit to equipment retailers if they offer the discount to consumers at the time of purchase. Participating retailers…
Getting Insured: Tips for finding home insurance in California
Getting Insured: Tips for finding home insurance in California

A new court ruling could give homeowners slightly more choices under the California Fair Plan, but experts say that could take time. If 2024 is the year you can finally buy a new home, the next and maybe even greater challenge could very well be…