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The U.S. home insurance premium is 35% higher today, on average, than it was two years ago, according to Policygenius.
'We came so close,' said general counsel for the Independent Insurance Agents & Brokers of California.
The tropical storm was the first to reach Southern California in more than 80 years.
This article explores the extended outlook for hurricane activity and what insurers can do to stay ahead of the rising threat.
Increased wildfire risks, economics and an inability to increase coverage rates as needed are leaving California homeowners exposed.
The company will continue operating other commercial lines for small- and medium-sized businesses in the state.
While organizations cannot control the outcomes of natural disasters, they can create safe, flexible and inclusive work environments where employees feel secure and safe to return after a natural disaster occurs.
AIG is curbing home insurance sales in around 200 ZIP codes across the U.S.
Insurance agents and brokers in the Golden State have little choice but to help clients navigate the situation.
Making matters worse, home replacement costs have escalated more than 55% since 2019, according to Triple-I.