In January, Tokio Marine Highland marked the 30th anniversary of its Private Flood Division, originally established by Heinrich in 1995. The division, which began in Heinrich’s garage, has evolved into a market leader in private flood insurance, offering residential, commercial, and excess flood coverage.
Power outages can be extremely inconvenient and at times scary. Keeping on top of a simple stockpile can help make all the difference when an emergency strikes. In most cases, a blackout can be temporary. When storms hit, they can knock out the power for a few hours or even a few days. Having supplies…
Upon receiving the claim, Steadfast conducted a multi-year investigation, which included emails, phone calls, site visits, and document requests. Ultimately, the insurer denied coverage in August 2021, citing a failure to comply with the policy’s requirement for “prompt notice” of loss or damage. Source link
Premiums, fees, and other revenues increased 14% to $13.6 billion, reflecting higher underwriting margins, growth in volume, and stronger variable investment income. These gains were partly offset by unfavorable foreign currency movements and lower recurring interest margins. Source link
The downstream energy sector saw limited major losses in 2024, encouraging insurers to reduce rates. However, potential losses in the first quarter of 2025 have already reached $1.5 billion, exceeding the prior year’s total, introducing potential volatility. Source link
On April 24, 2025, the Alabama Legislature formally adopted House Joint Resolution 220 (HJR220), emphasizing the critical need to address the growing instability and affordability challenges in commercial property insurance along Alabama’s coastal regions. Initially introduced on April 8, 2025, the resolution acknowledges the significant economic impact of coastal areas, including over $10 billion annually…
