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Eight property and casualty insurers have recently been approved to enter the Florida market.
Barclays estimated that insurers face claims of as much as $3 billion following the accident.
This news comes on the heels of State Farm pulling back further from the California market.
With the average premium around $6,000, some Floridians are foregoing homeowners insurance in favor of self-insurance with their investments.
The disaster at the Francis Scott Key Bridge is likely to cause huge disruption at one of the country's busiest ports.
Many insurers aren't yet equipped to integrate multiple technology partners into the claims process.
The California FAIR Plan faces $311 billion in potential losses, up from $50 billion six years ago.
The state forest service reported power lines sparked the Smokehouse Creek and Windy Deuce fires.
A look at Lloyd's claims handling 'then and now' illustrates the broader industry's modernization journey.
The U.S. currently experiences the worst losses, about $97 billion annually, due to its disproportionate share of insured assets.