homeowners insurance News

Louisiana Commissioner Temple Seeks $20M for Fortify Homes Program

Louisiana Insurance Commissioner Tim Temple expects lawmakers to allocate at least $20 million to the Lousiana Fortify Homes Program during the legislative session that begins on Monday. The funds would applied to the program for use in the next fiscal …

Huge Texas Blaze Shows Power-Line Fires Are a Widespread Threat

Massive wildfires sparked by power lines used to be a California problem, one many utility executives considered safely confined to the Golden State. No more. Texas officials on Thursday blamed the state’s largest-ever fire on electrical lines sparking in dry …

From Idalia to Otis: The Hurricanes That Shaped 2023 and What’s Next

We recently brought together thought leaders from across Moody’s to talk with the media at our 2023 Hurricane Season Recap and 2024 Outlook briefing, to provide a range of perspectives from meteorology to market impact. We looked back at the …

Washington Commissioner Wants Insurers to Modify Claims Process for Wildfire Victims

Washington Insurance Commissioner Mike Kreidler on Wednesday sent a letter to insurers urging them to consider loosening personal property claim filing requirements for victims of last summer’s Spokane County wildfires. Insurance companies typically require policyholders to provide a full, itemized …

Insurance Shopping Likely to Remain Strong in 2024, Despite Seasonal Dip in Q4 2023

Personal and auto insurance shopping is likely to increase in 2024 due to several market factors, new research shows. The observation in a new TransUnion report comes at a time when shopping for both insurance lines dropped at the end …

Texas Wildfire Conditions Seen Worsening After Brief Respite

Dry, windy weather that’s been fanning the worst Texas wildfire in almost two decades will return later this week after a brief respite of rain and snow. Fires raging across the Texas Panhandle have scorched homes and ranches, menaced an …

Subterranean Termites Creating a ‘New Norm’ in Florida, Damaging Homes and Trees

Some of the most insidious and damaging species of termites are spreading across Florida, causing damage to homes as swarming season approaches in March, experts say. The South Florida Sun Sentinel reported that entomologists at the University of Florida are …

Hawaii State And County Officials Seeking $1B From Legislature for Maui Recovery

Hawaii state and county officials have requested about $1 billion from the Legislature to help cover Maui wildfire recovery expenses in the near term. Gov. Josh Green’s administration had budgeted $199 million for such expenses but are now expecting they …

AccuWeather Warns of Potential ‘Super-Charged’ 2024 Hurricane Season

AccuWeather experts warn that the return La Niña and historically warm water across the Atlantic Ocean could contribute to a “super-charged” hurricane season in 2024. AccuWeather long-range forecasters say that the current El Niño pattern is expected to transition to …

Texas Jury Finds LSD Did Not Cause Spinal Injury, Requires Occidental to Pay HO Limits

When does a hallucinogenic drug become the direct cause of a catastrophic injury, triggering a homeowners’ policy exclusion? Not when a young man falls out of bed and is later moved by his comrades, potentially worsening a spinal injury, a …