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Porch Group completes Homeowners of America takeover

7th April 2021

Software company Porch Group has completed its previously announced acquisition of Homeowners of America (HOA), a property and casualty insurance company that specializes in residential property coverage for homeowners and investors. HOA is a managing general agent and insurance carrier hybrid and primarily operates in Texas, Arizona, North Carolina, South ... Read the full article

Heaviest volume of Uri claims from homeowners, commercial property & auto: AM Best

22nd February 2021

AM Best analysts believe the heaviest volume of claims from winter storm Uri will be in the homeowners, commercial property, and auto lines of business. Uri has caused significant disruption across a number of southern US states, especially Texas, which has faced record-low temperatures and had seen several inches of snow ... Read the full article

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