INSURASALES

Tag: Homeowners Insurance

Louisiana Advances Tax Credit for Fortified Roofs Amid Insurance Crisis

Louisiana Senate advances SB-28 to offer up to $10,000 tax credits for fortified roofs, aiming to reduce home insurance losses and stabilize rising premiums.

Texas Homeowners' Insurance Costs Rise Amid Regulatory Frameworks Allowing Rate Adjustments

Texas homeowners' insurance costs are rising due to severe weather and regulatory rules allowing insurers to adjust rates promptly. New legislation aims to address these challenges in the insurance market.

Colorado Home Insurance Rates Surge Amid Rising Wildfire Risks

Colorado faces significant home insurance premium increases due to wildfire risks and extreme weather, prompting new regulations to stabilize the market and support homeowners.

Motion Specialty Gains Lloyd’s Coverholder Status for Niche U.S. Homeowners and Flood Insurance

Motion Specialty has secured approval as a Lloyd's of London coverholder to underwrite specialty insurance products including High Value Homes and Flood coverage, leveraging data-driven underwriting and technology focused on wholesale distribution.

State Farm Receives Interim Approval for 17% California Home Insurance Rate Hike

State Farm obtains interim approval for a 17% rate increase on California home insurance policies due to wildfire claims and shrinking surplus. Further hearings will assess final rate legality and consumer protections.

US Surplus Lines Market Sees Strong Premium Growth in 2024 Amid P&C Challenges

AM Best reports robust 12.1% premium growth in US surplus lines market during 2024, driven by homeowners and general liability lines amid property and casualty sector pressures.

Garden Valley Fatal Fire Highlights Insurance Challenges and Fire Risks

A deadly Garden Valley fire killed a teen and left his grandmother uninsured after unexpected policy cancellation, underscoring fire risk and insurance challenges.

Texas Insurers Expand AI-Driven Aerial Surveillance for Home Insurance Risk Assessment

Texas insurers are increasingly using AI-analyzed aerial imagery to evaluate home insurance risks, impacting policy renewals and risk management strategies.

Illinois Appellate Court Enforces Appraisal Clause in State Farm Hail Damage Dispute

Illinois Appellate Court requires State Farm to engage in appraisal for hail damage valuation dispute, despite insurer's coverage objection.

California Fire Victims Face Insurance Challenges Amid State Farm Rate Hike

California fire victims face ongoing challenges with State Farm insurance claims as the state approves a 17% emergency homeowners rate hike amid scrutiny of insurer practices and regulatory responses.