Heat emanating from basements, train tunnels, sewers and other underground systems in major metropolises in the U.S. and Europe is heating the ground between city surfaces and the bedrock. The temperature increase reaches as high as 27° Fahrenheit in some …
Insurable losses from Hurricane Beryl across Jamaica and the Cayman Islands will be between $400 million and $700 million, while estimated insurable losses in Mexico’s Yucatan Peninsula are also less than $1 billion, according to catastrophe modeler CoreLogic. CoreLogic’s estimated …
The amount of cryptocurrency stolen in hacks globally more than doubled in the first six months of 2024 from a year earlier, driven by a small number of large attacks and rising crypto prices, blockchain researchers TRM Labs said on …
State Farm has applied for large rate increases in California, a year after the carrier got rate approvals of 7% and 20%—adding fuel to a burning homeowners crisis in a state that’s seen an increasing number of carriers pullback or …
For the second year in a row, the U.S. property/casualty industry booked an underwriting loss of more than $20 billion primarily due to the lackluster performance of personal auto and home insurance lines. The total U.S. P/C underwriting loss in …
This has been a year of insurance sticker shock in the US. But the man who provides insurance to insurers thinks maybe the shock still isn’t enough to steer people away from risk in a changing climate. “There is not …
Cyber insurance premiums are falling globally as businesses become more adept in curbing their losses from cyber crime, even as ransomware attacks are rising, broker Howden said in a report on Monday. Insurance premiums to protect companies against cyber attacks …
The White House is seeking roughly $4 billion in additional emergency funding from Congress for costs related to the collapse and repair of the Francis Scott Key bridge in Baltimore and to respond to other disasters that have occurred around …
In the topsy-turvy world of homeowners insurance, first-quarter loss ratios have been bouncing around for the last five years—from below 50 in 2020 to over 70 in 2021 and 2023, a new analysis shows. The S&P Global Market Intelligence analysis …
Homeowners are cutting back on dining out, travel, groceries and even medication to afford their soaring property insurance premiums. One in 10 are considering relocating to an area with lower premiums. Within the last five years, homeowners’ insurance premiums have …