Insurers paid $1B in lightning claims: Triple-I
The cost is down 16.5% from last year, according to The Insurance Information Institute.
California is running out of safe places to build homes
The state forecasts eroding coastlines will endanger $18 billion of existing homes and commercial buildings in the coming decades.
Toxic smoke damage in LA homes deepens insurance nightmare
The state’s insurer of last resort is facing an investigation by the California Department of Insurance as well as lawsuits from policyholders.
Homeowners battle insurers over $2.9T climate risk
Because of its soil and its status as the world’s fastest-warming continent, Europe is particularly exposed. The European Central Bank estimates the region’s potential damage from sinking land at more than €2.5 trillion ($2.9 billion) across all euro-area financial institutions.
Brown & Brown acquires Accession for $9.8B and bolttech’s $147M funding round
Brown & Brown to acquire Accession for $9.8B and bolttech’s $147 million Series C funding plus more insurance news.
How to protect your rooftop solar panels from hail damage
As the U.S. heads into peak hailstorm season, homeowners that have installed solar power face the prospect of chunks of ice damaging their panels.
Africa startups to seek new backers
More than a third of the funding received by 39 startups surveyed by Bloomberg came from American sources.
EV charging fires are rare but insurers can’t ignore the risk
As EV adoption increases and residential charging becomes the norm, fire risk has emerged as a meaningful coverage concern.
LA wildfire losses underscore urgency for insurance changes
Insurers had already doled out more than $12 billion to pay for wildfire damages as of early March, according to California state officials.
California’s snowpack data likely signals another fire-prone summer
California is emerging from its wettest time of the year with new fire and drought risks.
