Latest Property and casualty insurance providers News

State courts say no COVID-19 loss insurance for restaurants

Aug. 11, 2022 15:06 PM EDT

COLUMBIA, S.C. (AP) — The South Carolina Supreme Court said Wednesday that a sports bar chain could not recoup damages from its insurance policy over the COVID-19 pandemic and subsequent shutdown. The ruling in Sullivan Management, LLC v. Fireman’s Fund Insurance Company is the...

Firm downgrades 3 insurers in Florida, adding to concerns

Aug. 03, 2022 12:46 PM EDT

TALLAHASSEE, Fla. (AP) — A ratings agency has withdrawn ratings for two insurance companies and downgraded a third firm in Florida, raising concerns for homeowners who could end up paying more for insurance and further muddying a troubled market. Demotech, which rates 40...

Washington judge overturns insurance rate credit scoring ban

Jul. 29, 2022 17:23 PM EDT

OLYMPIA, Wash. (AP) — A judge on Friday overturned a Washington state rule prohibiting insurers from using credit scoring to set rates for auto, homeowner and renter insurance. Insurance Commissioner Mike Kreidler adopted the rule in February, immediately drawing a legal challenge...

Florida plans to backup insurance companies facing downgrade

Jul. 28, 2022 14:55 PM EDT

TALLAHASSEE, Fla. (AP) — Florida has taken action to back up property insurance companies facing a downgraded rating in an effort to help thousands of homeowners comply with mortgage requirements rather than being forced to seek new policies. The state-created Citizens Property...

Ukraine's grain is ready to go. But ships aren't. Why? Risk

Jul. 27, 2022 15:31 PM EDT

Shipping companies are not rushing to export millions of tons of grain trapped in Ukraine, despite a breakthrough deal to provide safe corridors through the Black Sea. That is because explosive mines are drifting in the waters, ship owners are assessing the risks and many still have questions over...

Editorial Roundup: Michigan

Jul. 25, 2022 07:17 AM EDT

Detroit News. July 20, 2022. Editorial: Give Line 5 tunnel project the green light After a regulatory commission punted on a decision to approve the Line 5 tunnel under the Straits of Mackinac earlier this month, a scheduling conference Thursday could shed some light...

Florida insurers face ratings change that could raise costs

Jul. 23, 2022 11:58 AM EDT

FORT LAUDERDALE, Fla. (AP) — A ratings agency has plans to downgrade more than two dozen Florida-based property insurance companies in a move that could cost more money for homeowners with loans. The ratings firm Demotech plans to downgrade the 27 insurers from an “A" rating to...

42K Louisiana homeowners dropped by insurance company Friday

Jul. 19, 2022 14:01 PM EDT

BATON ROUGE, La. (AP) — More than 40,000 homeowners are looking for new insurance policies after an insurance company dropped them, following similar moves by two other companies. Southern Fidelity canceled 42,000 policies Friday, leaving Louisiana homeowners with 60 days to find...

Louisiana bailout fund to borrow $600M to pay insurer claims

Jul. 17, 2022 17:39 PM EDT

NEW ORLEANS (AP) — A state-chartered bailout fund is seeking to borrow $600 million after seven Louisiana insurers went bust following 2021's Hurricane Ida. The Times-Picayune ' The New Orleans Advocate reports that the Louisiana Insurance Guaranty Association will seek approval of...

Liz Weston: 3 lessons I wish I’d learned sooner about travel

Jun. 30, 2022 09:07 AM EDT

Almost every trip teaches me something about myself, the world and what not to do next time. Here are three hard-won travel lessons that may help you learn from my mistakes. COBBLING TOGETHER FLIGHTS ISN’T WORTH THE SAVINGS Whenever possible, I book nonstop flights....