You searched for homeowners - Page 5 of 83

Velocity Risk stops writing all homeowners business

2nd June 2023

Velocity Risk Underwriters, the catastrophe-exposed property insurance specialist managing general agency (MGA) operation, is set to exit the homeowners insurance marketplace. Effective May 26th, Velocity Risk Underwriters has ceased writing new homeowners insurance business and has begun the process of exiting all of its homeowner programs, our sister publication Artemis ... Read the full article

Homeowners renewal rate increases accelerate in March: KBW

12th April 2023

Analysts at KBW have reported that homeowners renewal rate increases are picking up steam, having accelerated to an estimated 5.9% in March. KBW notes that most homeowners insurers are raising rates, likely due at least in part to expected increases to both reinsurance rates and reinsurance attachment points, with the combined ... Read the full article

HCI launching Tailrow as Florida homeowners insurance startup

11th April 2023

Insurance focused holding company HCI Group, Inc. is looking to establish a new Florida domestic homeowners insurer, named Tailrow Insurance Company, Reinsurance News has learned. HCI Group already owns Florida licensed insurer Homeowners Choice, insurtech property and flood insurance specialist TypTap, and reinsurance focused unit Claddaugh. Tailrow Insurance Company is expected to ... Read the full article

Hurricane Ian magnifies Florida homeowners’ re/insurance vulnerability: Fitch

6th December 2022

According to Fitch Ratings, the Florida homeowners’ insurance market’s already uncertain position is set to weaken further with the destruction caused by Hurricane Ian, which is potentially the second-largest hurricane in terms of insured losses. The rating agency suggests that losses will resonate through the primary and assumed reinsurance markets with ... Read the full article

Vast majority of at risk homeowners doubt their wildfire coverage: NAMIC

23rd November 2022

A combined study from the National Association of Mutual Insurance Companies (NAMIC) and the Ohio State University has found that only 19% of nearly 600 homeowners across 10 states with an increased risk of fire are certain they have enough insurance to cover damages. Further, 59% of respondent homeowners in fire-risk ... Read the full article

Florida generates the most homeowners premiums in the US: AM Best

22nd November 2022

Florida is the US state with most premiums in homeowners insurance lines, AM Best analysts have revealed. Despite being only the third more populous state, it generated $12.4 billion of homeowners direct premium in 2021. That is more than California, the most populous state, with $11.2 billion of homeowners direct premium, ... Read the full article

Homeowners view extreme weather as a growing threat, survey finds

2nd November 2022

Homeowners in hurricane-prone coastal states and around the US believe severe weather is increasing and that their property is at growing risk from weather events, a new survey by the National Association of Mutual Insurance Companies (NAMIC) has found. However, the survey also found that, for the most part, US homeowners ... Read the full article

FutureProof expands team to support Florida E&S homeowners product launch

31st October 2022

FutureProof Technologies has announced two key hires to support the launch of a Florida E&S homeowners product through its algorithmic underwriting MGA. Andrea Ferrari joins FutureProof as Director of Underwriting, while Michael DSouza joins as Director of Catastrophe and Portfolio Management. FutureProof notes that Ferrari brings extensive experience from underwriting both admitted ... Read the full article

Economic picture “exudes turmoil” for homeowners insurers: Aon

7th October 2022

The global macroeconomic picture continues to “exude turmoil” with negative impacts to homeowners insurers, Aon has said as part of its new Homeowners Return on Equity report. Analysts noted that the inflationary environment has had significant implications for reinsurance market capacity and utilization. Inflation adjusted values and claims payments drove both modelled ... Read the full article

Severe weather events pose uncertainty for US homeowners segment: AM Best

4th October 2022

According to a new report from AM Best, the US homeowners insurance segment could come under pressure with 2022 results expected to be impacted by Hurricane Ian. The hurricane, which made landfall Wednesday the 28th as a major Category 4 storm with maximum sustained winds of around 155 mph near ... Read the full article

Large, nationwide homeowners insurers have most cat exposure to hurricane Ian

27th September 2022

Analysis shows that some of the nationwide homeowners insurance giants in the U.S. have some of the highest level of catastrophe exposure to hurricane Ian, which is currently forecast to reach west-central Florida as a major Category 3 storm Wednesday evening local time. After making landfall in Cuba's Pinar del Río ... Read the full article

Florida’s homeowners insurers are facing multiple crises: Triple-I

11th August 2022

An issues brief published by the Insurance Information Institute (Triple-I) has affirmed that the turmoil in Florida’s homeowners insurance market is due to the state’s outsized number of lawsuits and its commonplace fraud schemes. The net underwriting losses for Florida domestic property companies exceeded $1bn in both 2020 and 2020. Triple-I’s ... Read the full article

Florida homeowners market still in “free fall” – ALIRT

26th July 2022

The Florida homeowners insurance markets remain in ‘a sort of free fall’, says a new note from ALIRT Insurance Research. The note, an update on the domestic insurer market in the US state, says that a number of factors are buttressing the ongoing narrative that is the market’s decline in recent ... Read the full article

SURE picks up 14,000 FedNat homeowners policies in South Carolina

7th July 2022

SureChoice Underwriters Reciprocal Exchange (SURE), a carrier partner of insurtech company SageSure, has assumed more than 14,000 South Carolina homeowners policies from FedNat Insurance Company. This announcement comes after FedNat completed a £15m investment in Monarch as the Florida Office of Insurance regulation authorised the assumption of 78,000 policies between ... Read the full article

Reinsurance Pool modelling data reveals 1/4 of Australian homeowners will see premium increases

4th July 2022

The Australian Reinsurance Pool Corporation has released the modelling data used to design the Northern Australia Reinsurance Pool, revealing the impact the scheme is likely to have on premiums across the region.  The report indicates up to 24 per cent of residential home policyholders in Queensland with minimal cyclone ... Read the full article