The global insurance industry has so far weathered broader economic challenges, with natural disasters in the US continuing to play a critical role in determining

“Severe weather events are increasing in frequency and severity, and consumers are looking for faster, more proactive solutions from their insurers,” said Chris Lafond, chief

“While each fire is unique, for context, actual claims following a fire have historically represented, on average, about 31% of the total exposure in that

Anthony R. O’Donnell // January 21, 2025 (Dan Schuleman, co-founder and CEO, and  Shiv Sinha, co-founder and CTO of Qumis. Source: Qumis.) Qumis (Chicago) a

Anthony R. O’Donnell // January 17, 2025 (Image source: ACORD.) The adoption of ACORD standards in the reinsurance sector is leading the way toward broader

Policies issued under the program would mirror the NFIP’s coverage terms, including coverage amounts, deductibles, exclusions, and conditions. Under the bill, residential properties could receive

According to updated data from CalFire, the Eaton Fire has destroyed 5,718 structures, while the Palisades Fire has resulted in the loss of 2,869 structures.

The reinsurance structure covers 12.0334% of losses between US$7 billion and US$9 billion and 25.8584% of losses between US$9 billion and US$11 billion. This arrangement

Additionally, California’s FAIR Plan, which offers fire insurance to high-risk properties, may require increased taxpayer funding to sustain coverage, potentially affecting homeowners statewide. Elevated insurance

Cal Fire has provisionally ranked the Palisades Fire as the fourth-most destructive wildfire in California’s history, based on early estimates of over 5,000 structures lost.