Hippo Holdings reveals a detailed growth and profitability plan through 2028, leveraging technology and a partnership with Baldwin Insurance Group to expand its homeowners and new home insurance offerings.
St. Louis suspends a 25% insurance escrow holdback on tornado-damaged properties, speeding access to full payouts through December 2026. Regulatory change supports property recovery efforts after the May 16 tornado.
Virginia officials and gubernatorial candidates consider ending the state's vehicle personal property tax, balancing taxpayer relief with $2.5 to $3 billion local revenue loss concerns.
North Carolina announces a 5% average auto insurance premium increase starting October 1 after a regulatory settlement, with a notable 16.3% decrease in motorcycle liability insurance rates statewide.
Mercury Insurance appoints Steve Bennett to lead a new team focusing on climate-driven catastrophe risk mitigation, advancing resilience and coverage in high-risk property and casualty markets.
USAA expands its Chesapeake office by adding 500 employees and a new facility to serve over 14 million military members. The move enhances claims training and workforce capabilities.
North Carolina's new SB 452 law raises minimum auto insurance liability limits, mandates underinsured motorist coverage, extends surcharges for inexperienced drivers and moving violations, leading to premium increases starting July 2024.
The 2025 LexisNexis U.S. Auto Insurance Trends Report analyzes 2024 market data revealing rising driving violations, increased policy shopping, and a return to profitability in the auto insurance sector.
The U.S. personal auto insurance industry reported improved underwriting results in 2024 with a net combined ratio of 95.3, driven by strong premium growth and loss control. However, legal system abuse and regulatory challenges pose ongoing risks to profitability and market stability.
Issues with unexpected cancellations of Farmers Insurance home policies affect senior clients, prompting scrutiny of insurer practices and advice on regulatory compliance and consumer actions.
