Category: Natural Disasters

Hurricane statistics, floods, fire storms, tsunami, earthquakes – we report the world’s natural disaster events. These life changing events not only rock the industry but leave residents and business owners in dire situations.

California Homeowners Take on Big Insurers Over Alleged Conspiracy

Nordstrom
California Insurers Face Allegations of Collusion

California Insurers Face Allegations of Collusion in Wake of Wildfires California’s fiery start to the year has left a group of homeowners turning to legal action against some of the state’s largest insurance providers. Lawsuits filed in recent months accuse major insurers, including State Farm and Farmers Insurance, of conspiring to push homeowners in wildfire-prone areas toward the California FAIR Plan, a state-administered program meant as a last resort for those unable to secure traditional coverage. The allegations center on unfair business practices and antitrust violations, igniting a broader debate…

Read More

Uber’s Multifaceted Push for New York Insurance Reform

G. Turner
New York Insurance Reform

Uber Technologies has embarked on a six-figure advertising marathon in New York, targeting lawmakers to address the tangled mess of the state’s insurance markets. With the insolvency of the city’s largest taxi insurer looming as one of the key culprits, Uber’s campaign is both a strategic and high-stakes move. Here’s what you need to know about this complex dance between tech, transportation, and insurance reform. What’s Driving Uber’s Big Ad Spend? Rising insurance costs have become a thorn in the side of Uber and its drivers in New York, one…

Read More

Homeowners Insurance in Colorado Is Out of Control. Here’s How the State Is Fighting Back

Logan B.
Homeowners Insurance in Colorado

Colorado’s Push to Tame Homeowners Insurance Costs with State-Funded Programs With insurance rates soaring and natural disasters reshaping risk models, Colorado is taking bold strides to tackle skyrocketing homeowners insurance costs. From introducing a new state-backed reinsurance program to launching the FAIR Plan for vulnerable properties, policymakers are navigating a labyrinth of challenges to bring relief to stressed homeowners. But as with any grand plan, the devil is in the details. Understanding the Proposed Fee At the core of Colorado’s legislative efforts lies House Bill 1302, a proposal designed to…

Read More

Why Insurance Stocks Like Allstate Are Holding Ground in a Changing Climate

Tate Ellison
Allstate Insurance Stocks

Why Look at Insurance Stocks? Insurance companies are finding ways to stay grounded despite the wild world around them. Stocks like those from Allstate (NYSE: ALL) are proving interesting for investors, even with climate risks becoming a bigger threat each year. Here’s an example: Allstate is sitting on a market value of about $47.85 billion – info per investing.com. They’ve got a price-to-earnings ratio of 10.78, meaning the stock’s price isn’t overly inflated compared to its earnings. And their 2.18% dividend yield isn’t bad if you’re looking for income along…

Read More

The $1,200 Club: States That Keep Your Home Insurance Premiums Low

Logan B.
Home Insurance Premiums

How Natural Disasters Are Reshaping Home Insurance Premiums in the U.S. The wrath of Mother Nature is becoming harder to ignore. From devastating hurricanes to relentless floods, natural disasters are not just becoming more frequent but also more severe. For homeowners across the United States, these escalating risks translate directly into rising home insurance premiums. These aren’t just abstract percentages; they’re real costs reshaping household budgets as many brace for the increasingly unpredictable. The Rising Cost of Safety: Home Insurance Premiums Skyrocket Hurricanes Helene and Milton didn’t just batter Florida’s…

Read More

From Crisis to Solution: How AB 226 Aims to Transform Wildfire Insurance

H. Cutner
Wildfire Insurance

California Moves to Reinforce FAIR Plan Stability Amid Wildfire Challenges California lawmakers are taking bold steps to protect homeowners and address the state’s wildfire-induced insurance crisis. At the center of these efforts is Assembly Bill (AB) 226, also known as the FAIR Plan Stabilization Act, designed to bolster the state’s insurer of last resort. With unanimous support in the Assembly and growing momentum in the Senate, this bill holds promise for easing the financial strain on an increasingly overburdened insurance market. FAIR Plan’s Crucial Role in High-Risk Areas The FAIR…

Read More

California’s FAIR Plan Offers a Lifeline, But Is It Sustainable?

Nordstrom
California Wildfires Costs

California Expands FAIR Plan Insurance Limits Amid Wildfire Risks and Insurer Withdrawals The California Fair Access to Insurance Requirements (FAIR) Plan serves as the state’s insurer of last resort, stepping in to provide essential property coverage when traditional insurers leave high-risk zones. Established in 1968, the FAIR Plan is a private consortium of insurance companies operating under state oversight. It was never designed to replace private insurance but to act as a safety net for those unable to secure coverage due to location or elevated risk factors. Recent years, however,…

Read More