Colorado coverage collapse leaves builders exposed – insurance broker

California’s largest property insurer, State Farm General, has warned that it will not resume writing new policies in the state, even if regulators approve its proposed 22% rate increase. The statement, delivered in a letter to Ricardo Lara, the state’s insurance commissioner, underscores the growing crisis in California’s homeowners insurance market as insurers retreat in…

This extra insurance called “Accidental death & disability rider” helps if the insured has a permanent disability or dies unexpectedly from an accident. It’s useful if you work in a high-risk job, do extreme sports or travel often. It helps you pay for medical expenses, lost income because of the accident, lump-sum payment for costs,…

In 2022, the most recent year for which data is available, US households spent an average of $1,127 per vehicle on auto insurance, representing 1.51% of the median household income of $74,580. This marked a slight increase from the previous year. State-by-state variations were significant, with North Dakota having the lowest expenditure share at 0.93%,…

For example, if someone with a homeowners policy liability limit of $300,000 is found responsible for $1 million in damages due to an accident on their property, their homeowners’ policy might cover part of the damages, but the remaining $700,000 could fall on the policyholder unless umbrella coverage is in place. Mercury’s umbrella insurance helps…

Eligibility for a policy requires applicants to have been declined by three admitted insurers. Coverage includes essential perils such as fire and lightning, with limits of up to $750,000 for residential properties and $5 million for commercial buildings. Some additional coverages, including wind and hail, may be purchased. All policies are issued on an actual…

Mubadala, the Abu Dhabi-based sovereign investment fund, and Hg Capital, an existing Howden shareholder, are expected to contribute around $2 billion (£1.5bn) each in equity. The new investment would value Howden at approximately $20 billion, implying a combined valuation of around $30 billion for the group. Source link