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Citizens' president and CEO said that Citizens is now forecasting it will have about 1.3 million policies at the end of 2023, after earlier estimates of 1.5 million to 1.7 million policies.
Growing catastrophe losses combined with rate inadequacy are masking the true risks facing nearly 40 million properties.
The United Nations estimated 10,100 people remained unaccounted for while an investigation into what caused the collapse of two dams is ongoing.
These are 2023 legislative priorities for the Wholesale and Specialty Insurance Association and its members.
Wholesale insurers are empowered by the ability to respond to catastrophes with appropriate risk-based pricing.
In 2022, surplus lines carriers' share of total P&C industry premium reached an all-time high of 11.2%.
Verisk reports that severe thunderstorms have accounted for more than 70% of insured losses in 2023 so far.
More than 8% of Louisianans were displaced by a natural disaster last year, compared to a nationwide average of 1.6%.
Reports from Karen Clark & Company delve into initial estimates of the damage caused by Hurricanes Hilary and Idalia.
Only 18% of Floridians have flood insurance, according to the Insurance Information Institute.
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