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Lexington Insurance Company announced that they will discontinue home insurance, sending another 8,000 property owners to search for a new insurer. Lexington specialized in homes worth $1+ million and Citizens will only insure property values less than $700,000, so Citizens was not an option. [29]
After studying data from 2018-2023, they found that the driving force behind non-renewal—an insurance company notifying a homeowner that they will no longer insure their property—was a series ...
Key takeaways. Homeowners insurance policies can be canceled or nonrenewed for lapses in payment, changes in underwriting criteria, the condition of the home or property and more.
A.M. Best Affirms Ratings of The Hanover Insurance Group, Inc. and Its Subsidiaries OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent ...
In homeowners insurance, the 80 percent rule refers to the fact that most insurance companies require homeowners to insure their home for at least 80 percent of its total replacement cost.
The Hanover Insurance Group was established in 1852 near Hanover Square in Manhattan in New York City.It paid a cash dividend to shareholders every year since 1853. [2]Though remaining a relatively small company over the next 125 years, Hanover's common stock price multiplied between 1971 and 1983 by over 23 times from its low point in the decade to its eventual peak.
RLI Corp. is an American insurance company specializing in property insurance and casualty insurance. [2] It is headquartered in Peoria, Illinois. [2] [3]RLI conducts its operations primarily through four insurance subsidiaries — RLI Insurance Company, Mt. Hawley Insurance Company, [4] RLI Indemnity Company, and Contractors Bonding and Insurance Company.
An insurance policy is a contract where the homeowner and insurance company agree that in exchange for a premium payment, the insurance company will provide compensation for the repairs or ...