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Anthony R. O’Donnell // January 17, 2025 (Image source: ACORD.) The adoption of ACORD standards in the reinsurance sector is leading the way toward broader
January 17, 2025
Article 0 Comments California politicians are rushing to make it easier for residents to rebuild their homes incinerated in the Los Angeles firestorms. That means
Policies issued under the program would mirror the NFIP’s coverage terms, including coverage amounts, deductibles, exclusions, and conditions. Under the bill, residential properties could receive
According to updated data from CalFire, the Eaton Fire has destroyed 5,718 structures, while the Palisades Fire has resulted in the loss of 2,869 structures.
The reinsurance structure covers 12.0334% of losses between US$7 billion and US$9 billion and 25.8584% of losses between US$9 billion and US$11 billion. This arrangement
Article 0 Comments Increases in average medical payments and average indemnity payments drove public self-insureds’ total paid losses up last year even though the number
Article 0 Comments The Eaton Fire in central Los Angeles County poses a potential credit risk to power provider Southern California Edison, which operates electrical
January 16, 2025
Article 0 Comments While the Southern California fires that sparked in high-wind conditions last week inch closer toward containment, estimates of insured losses continue to
Additionally, California’s FAIR Plan, which offers fire insurance to high-risk properties, may require increased taxpayer funding to sustain coverage, potentially affecting homeowners statewide. Elevated insurance
Cal Fire has provisionally ranked the Palisades Fire as the fourth-most destructive wildfire in California’s history, based on early estimates of over 5,000 structures lost.
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## Company News
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E-Claim.com has just completed a second round of participation in the System for Integrated Growth (SIG) program, facilitated by the…
E-Claim.com is excited to welcome Lozano Insurance Adjusters as our newest client licensing ClickClaims Claims Management System. Lozano Insurance Adjusters,…
ClickClaims was developed with support from Louisiana Economic Development’s Office of Entertainment Industry Development
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The NICB said that it has deployed agents to the impacted regions to collaborate with local, state, and federal law enforcement agencies, as well as
The fires have killed at least 25 people and have burned through 40,000 acres in the Greater Los Angeles area. As of Tuesday, the containment
Article 0 Comments The dry, dangerous winds that have kept fire-scarred Los Angeles on edge for days are finally forecast to end — but a
In specialty insurance, renewal pricing was stable or slightly lower. US casualty rates remained generally flat or slightly increased, influenced by cedents’ loss histories, reserve
Gallagher Re has announced the promotion of Ben Wathen (pictured above) to chief claims officer. In this role, Wathen will lead the company’s Global Claims
State Farm’s decision, which affected thousands of residents, was part of a broader strategy made in the first half of 2023 and 2024 to reduce
Article 0 Comments A judge has dismissed New York City’s lawsuit seeking to hold Exxon Mobil, BP and Shell. liable for misleading the public about
Article 0 Comments Newswise – There’s a reason that electric vehicles in salvage yards are kept by themselves and spaced far apart. Their lithium-ion batteries
Article 0 Comments Southwest Airlines Co. was sued by the U.S. Transportation Department for allegedly violating rules that require airlines to set and meet realistic
However, such losses may pressure weaker capitalized companies and increase reinsurance costs, which will also further strain the system that has seen many insurers leave
January 15, 2025
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Article 0 Comments Los Angeles is bracing for critical wildfire conditions again as dry winds scour Southern California, creating the risk of more blazes in
“Casualty lines will likely keep rising, particularly for challenging risks like habitational business, heavy auto, and wildfire-exposed accounts. However, capacity still exists at certain attachment
The state’s lawsuit seeks a court ruling that the practices were unlawful and demands that all collected data, including any held by third parties, be
The California FAIR Plan has a significant presence in areas affected by wildfires. Pacific Palisades, one of the regions impacted by recent fires, accounted for
Article 0 Comments The state of Texas has filed a lawsuit against Allstate, alleging the insurance company illegally collects driver data through secretly embedded software
Article 0 Comments The investigation into South Korea’s recent deadly plane crash has underscored a shortcoming first identified more than two decades ago — that
Article 0 Comments A study by researchers at North Carolina State University supports what some critics of federal flood maps have said for years: That
Article 0 Comments This is set to be the year generative artificial intelligence significantly starts to change how Americans live and work, most notably in
Donald Light // January 14, 2025 (Image source: California Department of Forestry and Fire Protection.) As I write this blog on Friday January 10, there
January 14, 2025
Article 0 Comments Wildfires that have ravaged swaths of Los Angeles could result in losses of as much as $30 billion for the insurance industry
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Article 0 Comments Edison International Inc.’s southern California utility was hit with a lawsuit blaming the energy provider’s equipment for igniting one of the wildfires
January 13, 2025
Anthony R. O’Donnell // January 13, 2025 (Image source: Microsoft Azure Marketplace homepage.) Sapiens International Corporation (Holon, Israel), a global provider of intelligent insurance software solutions
Article 0 Comments At least two rounds of vicious, dry Santa Ana winds are expected to blast through Southern California early this week, bringing powerful
Article 0 Comments Apple has abused its dominant position by charging app developers an unfair 30% commission through its App Store, costing British consumers up
Article 0 Comments Mercury General Corporation said it expects losses from wildfires burning in California since Jan. 7 to exceed its $150 million reinsurance retention,
Article 0 Comments The U.S. government sued Airbnb Friday, alleging housing discrimination after a host refused to rent an apartment to a mother with three
Article 0 Comments As firefighters gain more control over what have become the most destructive wildfires in U.S. history in a matter of days, the
January 10, 2025
Article 0 Comments Three days after the fire began raging in the Pacific Palisades of Los Angeles, only 8% of it has been contained and
Article 0 Comments A residual property insurer and regulators in two Southeastern states are emphasizing roof integrity, more signs that mitigation and prevention are increasingly
Article 0 Comments Southern California Edison said it had received notices from insurance companies to preserve evidence related to the Eaton Fire that is still
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