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Florida is not alone when it comes to property insurance. One in 13 homeowners across the U.S. are uninsured, according to a recent study by the Consumer Federation of America. That's a little ...
Florida-based insurers, which cover about four out of every five policies in the state, are also highly dependent on reinsurance, which they purchase to help pay out storm claims each year.
Florida’s crumbling homeowners insurance market is exposing one of the state’s long-running flaws: its reliance on a single company to certify the majority of the state’s insurers.
Home insurance costs are expected to rise by 40% in Florida in 2023; state governments have some power to limit those hikes, or to make cheaper government insurance available, but they cannot ...
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
Insurance in the United States refers to the market for risk in the United States, the world's largest insurance market by premium volume. [1] According to Swiss Re, of the $6.782 trillion of global direct premiums written worldwide in 2022, $2.959 trillion (43.6%) were written in the United States.
Finally, insurers, housing developers, local and state policymakers and community members have to work together to tackle tough questions about land use and the increasing climate risk that has an ...
In addition to standard home insurance, some 8 million households in the UK are categorized as being a "non-standard" risk. These households require a specialist or non-standard insurer that would cover home insurance needs for people that have criminal convictions and/or where the property suffers subsidence or has previously been underpinned.