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Insurers expect to make payments to customers hit by the recent Storms Ciara and Dennis of over £363 million (US$ 473.7 million), according to initial estimates from the Association of British Insurers (ABI).
The Insurance Council of Australia (ICA) has declared a Catastrophe for damage caused by hail storms that struck eastern Melbourne, the Australian Capital Territory and parts of New South Wales on Sunday and Monday.
Home sales are slowing in wildfire-prone areas of California as insurers retreat from high-risk regions, say real-estate agents and homeowners.
The future of another Florida domestic insurer is now in the hands of state regulators. Non-standard private passenger auto insurer Windhaven Insurance Co. (WIC), based in Miami, has been placed into rehabilitation by a Florida court
Casino mogul Steve Wynn agreed to pay $20 million toward a settlement of shareholder lawsuits that claimed Wynn Resorts Ltd.’s board had been complicit in his alleged sexual misconduct.
The federal government is delaying implementation of a major change to its pricing formula for federal flood insurance that bases rates on a more accurate assessment of the real flood threat for each home and reflects the cost of rebuilding a home.
Private equity firm The Carlyle Group has agreed to acquire The Hilb Group LLC from Boston-based private equity firm Abry Partners LLC, the Richmond, Virginia-based brokerage Hilb said on Wednesday.
Despite intense storms in the past year and historic flooding in the Midwest in 2019, the number of homeowners with flood insurance policies in the United States has dropped by at least one-third since 2011, according to the New York Times. Moreover, only 15% of homes in the floodplains have adequate coverage in Nebraska, Illinois, and Missouri.
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