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Rising customer dissatisfaction with homeowners insurance claims: J.D. Power

20th March 2025

Extreme weather events, widespread premium increases, and long repair cycle times have strained customer satisfaction with the homeowners insurance claims experience, according to the J.D. Power 2025 U.S. Property Claims Satisfaction Study. Mark Garrett, Director of Insurance Intelligence at J.D. Power, said, “There were 27 catastrophic events in 2024 and 28 ... Read the full article

Skyline Insurance expands homeowners coverage across Washington amid rising property values

7th March 2025

Skyline Insurance Group, a home, auto and life insurance specialist, has announced the expansion of its homeowners insurance services to new communities across the state of Washington in the United States, emphasising relationship-based insurance. The expansion now includes comprehensive homeowners insurance in Marysville, Bothell, Edmonds, Lake Stevens, and Lynnwood. This move comes ... Read the full article

Porch forms homeowners insurance reciprocal exchange and sells HOA for $105m

7th January 2025

Porch Group, a homeowners insurance and vertical software platform, has completed the formation of Porch Insurance Reciprocal Exchange (PIRE), a new homeowners insurance reciprocal exchange, alongside the sale of Homeowners of America Insurance Company (HOA) to PIRE. This follows Porch receiving approval from the Texas Department of Insurance (TDI) in ... Read the full article

Security First & Embark to offer new homeowners insurance solution in Florida

23rd December 2024

Florida-domiciled insurers Security First Insurance and Embark MGA, have together launched a new HO5 homeowners' insurance program designed exclusively for new home builders for affordable, turnkey insurance options for home buyers. This policy combines enhanced coverage options tailored to the needs of Florida homeowners with the simplicity of embedding the insurance ... Read the full article

Inland homeowners increasingly vulnerable to floods but most without coverage: Triple-I

14th November 2024

Despite the growing threat of flooding from intense storms, many homeowners in inland areas remain unprotected as they do not have flood insurance coverage, reflecting a widespread misunderstanding about the coverage, Triple-I highlighted in a recent report. The report "Flood: State of the Risk" examines the flood insurance gap across the ... Read the full article

Property MGA Delos raises $9M to expand wildfire insurance for homeowners

1st November 2024

Delos Insurance Solutions, a property insurance MGA, has raised $9 million in a Series A funding round to address homeowners' challenges in securing wildfire insurance. This funding round was led by HSBC Asset Management, with contributions from IA Capital Group, Blue Bear Capital, Generation Space, and several angel investors. Using wildfire science ... Read the full article

Homeowners insurance requires urgent changes amid rising nat cat risks: Conning

25th October 2024

According to a recent report by Conning, the escalating impact of natural catastrophes is threatening the homeowners insurance sector, indicating that the industry cannot sustain its current trajectory without significant changes. While natural disasters have always posed risks to insurers, losses have surged dramatically in recent years. Between 1991 and 2016, ... Read the full article

Home insurance has increased for homeowners as loss costs across all perils rise: LexisNexis

21st October 2024

The US home insurance industry has experienced an upward trend in loss cost across all perils combined over the past seven years, resulting in catastrophic claims which in turn contribute to rising premiums, LexisNexis stated in a recent report. According to the 2024 LexisNexis Home Trends Report, all peril lost cost ... Read the full article

Despite strong rates, profitability is a struggle for US homeowners insurers, says Aon

8th October 2024

Global insurance and reinsurance broker Aon has revealed that the prospective return on equity (RoE) for US diversified homeowners insurance carriers decreased by 100 basis points to 5% from last year, despite the significant rate increases achieved by carriers in 2023-24. Aon’s Homeowners Return on Equity Outlook - October 2024 report ... Read the full article

Homeowners & renters insurance costs surpass inflation, leads to record shopping rates: J.D. Power

23rd September 2024

Homeowners and renters insurance costs have now surpassed both the rate of inflation and the average rate increases experienced by auto insurance customers, according to the J.D. Power 2024 US Home Insurance Study. Data from the report shows that the rising rates has led to a significant increase in the percentage ... Read the full article

PURE expands to Canada offering coverage for high-net-worth homeowners

12th September 2024

PURE Insurance, a US-based property and casualty insurer, is expanding into Canada with a new office in Toronto that will begin offering its unique reciprocal model to high-net-worth homeowners in Ontario. PURE will provide coverage for affluent homeowners with properties valued at over $2 million. This expansion gives insurance brokers and affluent ... Read the full article

Record weather-related losses challenge US homeowners insurers in 2024: S&P

6th September 2024

This year is on track to surpass 2023’s record weather-related losses for U.S. homeowner insurers, posing challenges in estimating catastrophe risk charges, according to S&P Global Ratings. U.S. homeowner insurers have faced several years of underwriting losses due to increasing severe weather events. In the first half of 2024 alone, insurers ... Read the full article

American Integrity extends coverage to additional South Carolina homeowners

14th August 2024

American Integrity Insurance, a regional provider of property insurance, has announced that it now offers coverage for homes up to 75 years old in South Carolina. Since entering the South Carolina market in 2022, the company has been steadily expanding its reach across the Southeast. With a diverse range of insurance offerings ... Read the full article

Orion180 introduces homeowners insurance services in Ohio

2nd August 2024

The insurance company Orion180 is thrilled to announce its expansion into Ohio, bringing its specialised homeowners coverage to eight states, including three new ones added in the first half of 2024. With the addition of Ohio through Orion Select Insurance Co., Orion180’s licensed insurance provider, homeowners in the state can now ... Read the full article

Rising US homeowners insurance costs driven by nat cat losses and inflation: Triple-I

17th July 2024

Homeowners insurance costs in the US have been on the rise since COVID, largely due to increased losses from natural catastrophes and persistent inflation, according to the Insurance Information Institute (Triple-I). Despite more frequent and intense extreme weather events in recent years, many Americans are moving to regions like the Southeast ... Read the full article

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