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Homeowners insurance to show modest underwriting loss: Fitch
19th February 2021
Global rating agency, Fitch Ratings has released a report which suggests that the U.S. P&C industry will to shift to a modest statutory underwriting loss in homeowners’ insurance for 2020 reported results. U.S personal lines underwriters have been faced with unique challenges in the homeowners’ line, with losses rising as a ... Read the full article
ICAT launches new insurance solution for cat exposed homeowners
17th November 2020
ICAT, an underwriter and producer of US catastrophe insurance, has announced a new insurance solution for catastrophe-exposed homeowners in Alabama, Mississippi, Louisiana, and Texas. Future expansion is planned in Florida and tier 1 and 2 counties along the Eastern Seaboard. The new homeowners insurance policy can reportadly be quoted and bound through ... Read the full article
Berkshire Hathaway GUARD further expands US homeowners coverage
13th November 2020
Berkshire Hathaway GUARD Insurance Companies has added Indiana, Kansas, Kentucky, Nevada, and Oregon to the list of states where its homeowners product is available. Chief Insurance Officer Lyle Hitt said he has been pleased with the caliber of submissions already experienced in previous states, and fully expects to see the trend ... Read the full article
Aon forecasts continued growth for US homeowners insurers
11th November 2020
Analysis by global insurance and reinsurance broker, Aon, claims that U.S. homeowners direct written premiums are projected to hit $105 billion in 2020, representing an increase from the $104 billion total recorded for 2019. Aon's latest Homeowners ROE Outlook report, which is developed by the firm's Reinsurance Solutions' Analytics team, predicts ... Read the full article
Flood Re says all homeowners policies should include flood insurance
6th November 2020
Flood Re, the UK’s government-backed reinsurance scheme, has welcomed the key findings of a review into a 2019 flooding disaster, which recommends that all homeowners policies should include flood cover as standard. The Blanc review, commissioned by the UK government back in April, sought to investigate why many of the ... Read the full article
Universal announces homeowners insurance in Iowa
3rd November 2020
Florida headquartered and expansive primary insurance carrier Universal Insurance Holdings, has announced that its wholly-owned subsidiary, Universal Property & Casualty Insurance Company (Universal Property), has written multiple policies in Iowa since the end of Q3 2020. This will mark the 19th state where consumers can purchase a Universal Property policy through ... Read the full article
Berkshire Hathaway GUARD expands US homeowners coverage
17th July 2020
Berkshire Hathaway GUARD Insurance Companies, a U.S subsidiary of Warren Buffett’s global re/insurance company, has added Missouri, Washington, and Wisconsin to the list of states where it offers its Homeowners product. GUARD's product targets dwellings valued over $75,000 and includes one- to four-family residences, renters, and condo units. "Our goal is to ... Read the full article
HCI’s Homeowners Choice agrees policy replacement deal with Anchor
17th February 2020
Homeowners Choice Property & Casualty Insurance Company, Inc., a subsidiary of HCI Group, Inc., has entered into a definitive policy replacement agreement with Anchor Property & Casualty Insurance Company. It was announced in mid-January that Homeowners Choice was to acquire the insurance policies of Florida-based Anchor for an undisclosed purchase ... Read the full article
Kin targets Florida homeowners with new flood solution
22nd January 2020
Catastrophe-focused insurance technology firm, Kin Insurance, now offers flood coverage for Florida homeowners through its Florida home insurance carrier, the Kin Interinsurance Network. In an announcement, Kin Insurance states that the flood protection is an insurance endorsement and can be tailor made to Florida homeowners in areas deemed low-risk, moderate-risk, or ... Read the full article
Tokio Marine to expand into Brazilian mortgage & homeowners insurance market
7th January 2020
Tokio Marine Holdings, Inc. has announced the execution of a definitive agreement between its subsidiary, Tokio Marine Seguradora S.A., and Caixa Seguridade Participações S.A, an insurance holding unit of Caixa Econômica Federal, to establish a joint venture insurer to underwrite mortgage and homeowners insurance. Caixa Econômica Federal is a Brazilian state-owned ... Read the full article
Homeowners segment boosted by lower cat losses in 2019: AM Best
2nd January 2020
Following two years of elevated catastrophe losses, a significant decline in activity during 2019 has helped to boost the homeowners insurance segment, according to AM Best. Analysts noted that the re/insurance industry more broadly has had some respite from catastrophe losses in 2019 despite threats from numerous storms, as well as ... Read the full article
Florida AoB reforms prompt homeowners discounts from Kin Insurance
5th December 2019
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has announced two new discounts for Florida homeowners, which it says were made possible by recent reforms to assignment of benefits (AoB) laws. The Responsible Repair Discount will offer an 18% discount on the water peril ... Read the full article
Homeowners sector increasingly targeting insurtech efficiencies: AM Best
19th November 2019
Companies in the US homeowners market are increasingly relying on insurtech to boost efficiency and agility in the face of challenging market dynamics, according to analysts at AM Best. Analysts observed that effective use of technology in this sector has helped to lower transaction costs and expand access to customers. The cost ... Read the full article
U.S. homeowners insurers improve CR in 2018 on lower cats: A.M. Best
5th November 2019
Although still above-average, a reduction in the level of catastrophe losses during 2018 was the main driver of an improved combined ratio reported by U.S. homeowners insurers in the year, according to A.M. Best. U.S. homeowners carriers posted a combined ratio of 103.7% in 2018, which, is an improvement of 3.1% ... Read the full article
Rate increases persist but slow in robust US homeowners market: Aon
22nd October 2019
The US homeowners sector remains robust in spite of the devastating and costly impacts of 2017 and 2018 catastrophe events, with further premium growth expected in 2019, according to re/insurance broker Aon's annual Homeowners ROE Outlook report. The report finds that US homeowners direct written premiums increased to USD 98 billion ... Read the full article