Hurricane Irma-related lawsuits surged at Citizens Property Insurance Corp. early this year, representing a nearly 50 percent increase in the company’s litigation load compared to the same period in 2017.  More than 90 percent of those lawsuits originated in South …

The federal government, seeking to protect itself from the growing cost of natural disasters, is borrowing a technique from the private sector and buying reinsurance. The Federal Emergency Management Agency, which started purchasing reinsurance last year for the National Flood …

The assessment for the Workers’ Compensation Administration Trust Fund will drop, from 0.97% to 0.90%, for calendar year 2019, the seventh straight decrease, the Department of Financial Services announced in a bulletin. For insurance carriers, the assessment is based on net …

A restoration contractor company owner has been arrested over an alleged assignment of benefits (AOB) fraud scheme that impacted 19 homeowners in eight Florida counties and one Texas county, according to a statement from Florida Chief Financial Officer (CFO) Jimmy …

Although the insurance industry may have had plenty of time to wrap its mind around managing physical property threats, what about the newly growing area of non-physical threats? Panelists at the 2018 PLUS Cyber Symposium, held in May in Chicago, …

U.S. commercial insurance prices increased modestly in the first quarter, according to a Willis Towers Watson P.L.C. report released on Monday. The broker’s Commercial Lines Insurance Pricing Survey compared prices charged on policies written during the first quarter of 2018 …

With hurricane season under way, home buyers who plan to get flood insurance through the federal government might want to speed up their purchasing process. Unless Congress takes action, the National Flood Insurance Program will lapse at midnight on July …

Many insurers and reinsurers are facing some earnings volatility in 2018 due to a change in accounting requirements for equity securities, Fitch Ratings said in new market commentary. According to Fitch, companies with significant equity investments are particularly affected in …

The national flood insurance program is set to expire in July, and Ranking Member of the House Committee on Financial Services Maxine Waters, D-Calif., is renewing the call to pass a long-term solution for the problem. Currently, the NFIP is …

More than half of drivers killed in car accidents who were tested for drugs had marijuana, opioids or a combination of the two in their system, according to a new report. The Governors Highway Safety Association (GHSA) report found that …