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Growing catastrophe losses combined with rate inadequacy are masking the true risks facing nearly 40 million properties.
The South and parts of the Midwest are less vulnerable compared to parts of New Jersey and Illinois, which are most at-risk.
The one-year moratorium will impact more than 15,000 policyholders in Del Norte and Siskiyou counties.
The first half of 2023 saw above-average natural catastrophe losses, while secondary perils added further pressure.
These are 2023 legislative priorities for the Wholesale and Specialty Insurance Association and its members.
Insureds in need of cyber protection increasingly turn to the wholesale insurance marketplace.
Verisk reports that severe thunderstorms have accounted for more than 70% of insured losses in 2023 so far.
The E&S marketplace continues to present fantastic growth opportunities, but the winds of change are blowing.
The company is releasing approximately 11% of its workforce across all lines of business.
Marcus & Millichap report the latest dramatic spikes as providers pull out of key markets.