Heavy rainfall once again overwhelmed storm drains and caused mudslides in Southern California, with officials ordering some Inland Empire residents to evacuate.
Uncertain times are challenging for reinsurers. Claims may jump, and investment losses may dent profitability and possibly capital. . However, uncertain times can also be good for reinsurers.
AM Best said it held the belief that the U.S. personal auto line would right the ship following 2021, but headwinds remain too strong and the agency revised its outlook.
Contractors have launched an appeal in a legal battle about part of a new Florida property-insurance law that restricted attorney fees in disputes about claims.
While the days of cash flow underwriting are a distant memory for veteran insurance executives, the need for industry’s more recent “preoccupation” with underwriting profit is starting to subside.
Establishments that lost water service in troubled Jackson, Mississippi, this month are finding that their business interruption insurance policies won’t always help pay for lost revenue.
The sole supplier of water for the City of Henderson has filed for bankruptcy protection, a victim of a 23-year drought that created a problem too expensive to fix.
A fire erupted today in a pile of pallets adjacent to a warehouse on the boundary separating Riverside and Moreno Valley, quickly spreading to the exterior of the building, prompting a three-alarm emergency response.