InsuranceEDGE | March 23, 2023 | BuildingMetrix

Written by WSRB | March 23, 2023

Welcome to your weekly newsletter with the updates you need to succeed in property and casualty insurance.

From Coast to Coast

Average insurance premiums are a good benchmark to work from. Explore seven states in the U.S. where average home insurance premiums on a $250,000 dwelling surpass $2,000 per year.

ISRB: A Century of Success

Congratulations to our friends at The Idaho Surveying and Rating Bureau on 100 years of serving the citizens of Idaho! In honor of this milestone, let’s look back at the bureau’s history, from its genesis to the present day.

States With Highest Annual Home Insurance Premiums

Bankrate.com recently surveyed the top risks in each U.S. state in order to better understand how home insurance premiums vary from one place to the next.

Business

The End of Credit Suisse

Credit Suisse Group AG, once one of the stalwarts of the global financial system that helped position Switzerland as a linchpin of international finance, is no more.

DeSantis Speaks on Citizens

The governor suggested that Citizens Property Insurance Corp. has “not been solvent” and may be unable to pay all claims from a major hurricane.

Read more at Insurance Journal

Cannasure On the Move

The nation’s better-known cannabis insurance specialists is scrambling after AM Best announced it was downgrading the credit ratings of Topa Insurance Co.

Read more at Insurance Journal

Environment

Flood Insurance Discounts in ND

Bismarck area residents are getting a bigger break on flood insurance premiums, thanks to improved floodplain management activities by the city.

CA Storms Flood Strawberry Farms

As river water gushed through a broken levee, thousands of people in a California farming town were forced to evacuate as their homes were flooded.

Snowpack Tests Water Management

This spring will provide an important stress test of the Tulare Lake Basin in the San Joaquin Valley: too much water—rather than too little—for a change.

Education

Connecticut Gunmaker Sued

The son of one of the people killed at a Colorado supermarket in 2021 is suing gun maker Sturm, Ruger & Co. over how it marketed a firearm used in the massacre.

Read more at Insurance Journal

Companies Come to Louisiana

Insurance Commissioner Jim Donelon says nine companies have applied to take part in an incentive program to resolve a homeowners insurance crisis.

UK Businesses Face Underinsurance

Continuing high levels of inflation in construction costs risk leaving homes and businesses underinsured in the event of fire or another catastrophic event.

Read more at Insurance Journal

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