State Farm is keeping some California home insurance customers after all

Home Insurance California covered by State Farm

Still, the coverage that they will be receiving won’t be the same as what they’re used to State Farm has announced that it will be making it possible for some California home insurance customers to renew their policies, after having previously announced that it would no longer be selling or renewing property coverage in the state. That said, there is an important change to the coverage it will be providing While this does mean that homeowners will be able to keep their home insurance coverage, they should be aware that…

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USAA insurance company is profitable again after a bad 2022

Insurance company - 2022 loss - 2023 profit

That year was the first time in the insurer’s 102 years that it failed to bring in a profit The USAA insurance company has announced that it brought in a net income of $1.2 billion in 2023, following a rough 2022, in which it posted a net loss of $1.3 billion. The figures were released this month Even though the insurance company faced similar challenges that caused it to post a loss in 2022, it still managed to turn a profit.  The 2022 losses were the first time in the…

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Warren Buffett thinks cyber insurance market could see “huge losses”

Cyber insurance - Losses

Berkshire Hathaway and its head see a chance that this market will experience struggles Berkshire Hathaway recently held its annual shareholder meeting in Omaha, and there, top exec Warren Buffett and top insurance exec Ajit Jain said that cyber insurance is too risky for the company. That particular market is currently quite profitable At the meeting, Jain underscored that while cyber insurance is profitable at the moment and has become “a very fashionable product,” the risks associated with investing in it are quite high.  He said that to date for…

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What was behind Berkshire Hathaway’s Chubb insurance company purchase?

Warren Buffett buys

Warren Buffett’s company has been hiding a massive insurer purchase Berkshire Hathaway started buying again in Q3 2023 and has finally unveiled the largest publicly traded purchase that it has kept from the spotlight: Chubb insurance company. The Securities and Exchange Commission permitted the secret The Securities and Exchange Commission made it possible for Berkshire Hathaway, and its owner Warren Buffett, to maintain the secrecy of the purchase while the position was being arranged.  Then, after the May 15 market close, the first quarter 13F was filed and revealed that…

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Marsh offers tax insurance to support American clean energy investing

Tax insurance - Clean energy investing

Marsh has announced its new solution to help boost available capital for investing Marsh recently announced the launch of its new tax insurance solution that it is calling its Tax Investment Default Insurance.  It is a new solution created to boost available capital for investments into federal tax credits associated with renewable energy projects in the United States. The new solution is meant to promote renewable energy investments As the Inflation Reduction Act of 2022 increasingly supports efforts such as clean energy and a hydrogen economy in the United States,…

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