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.
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.
As EV adoption increases and residential charging becomes the norm, fire risk has emerged as a meaningful coverage concern.
Insurers had already doled out more than $12 billion to pay for wildfire damages as of early March, according to California state officials.
California is emerging from its wettest time of the year with new fire and drought risks.
Slow repair cycle times, widespread premium increases and the volume of catastrophic events all contribute to dissatisfaction, according to the U.S. Property Claims Satisfaction Study from J.D. Power.
The top five insurance companies have an average homeowners market share of 9.15% as of December 31, 2024.
California’s insurer of last resort is careening toward another hot and dry summer with its coffers already strained. That’s raising the prospect that state residents will need to pick up the bill for more funds.
HSB, a part of Munich Re, partners with Flume; Kin expands into California, plus more insurtech news.
First came a dry spell that parched the land, then a spark, followed by some wind. Suddenly, swaths of South Carolina were consumed by voracious flames.
