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TWFG explores FAIR Plan wrap options as challenges persist
Bunch also said developments in California’s property segment are tied to wildfire exposure, confidence in new catastrophe models, and reinsurance support. Filing new programs in the state remains difficult, he added, especially when competing with a state-run plan. Source link
APCIA opposes no-fault repeal, citing risks to Florida drivers
APCIA represents home, auto, and business insurers nationwide and advocates for competitive private insurance markets. Its members include insurers of all sizes and structures, serving families, communities, and businesses across the US and globally. Source link
Did remote work cause this nearly $1-billion hack?
The ransomware-style attack, suspected to be the work of the Scattered Spider group, appears to have targeted critical backend servers, possibly compromising authentication files and deploying encryptors to lock virtual machines. Though details remain scarce, the incident may have originated months earlier, highlighting the often undetected gestation period of such breaches. Source link
Wildfire fallout – insurers set to reassess risk, tighten policies in California
“Clearing dead plants, removing wooden furniture, (these are) things people might overlook outside forested areas,” said Heron. “There will be more focus on how homes are rebuilt and the materials used, especially roofing. If a roof isn’t fire-rated to a certain degree or is past a certain age, insurers may change terms, offering actual cash…
Neptune Flood exceeds $300 million in premiums
The figures mark a significant increase for the private flood insurance sector, which has grown in recent years amid concerns over the sustainability of the federal National Flood Insurance Program (NFIP), the company highlighted. In a statement, CEO Trevor Burgess said the milestone demonstrates a growing demand for private flood coverage. “Reaching $300 million in…
What Is a Percentage Deductible in Insurance?
When protecting your home from unpredictable natural forces, understanding your insurance policy is key—especially when it comes to your deductible in insurance. While most people are familiar with the concept of deductibles, not everyone realizes there are different types. One to pay close attention to—particularly if you live in an area prone to disasters like…