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.

The NICB said that it has deployed agents to the impacted regions to collaborate with local, state, and federal law enforcement agencies, as well as

The fires have killed at least 25 people and have burned through 40,000 acres in the Greater Los Angeles area. As of Tuesday, the containment

In specialty insurance, renewal pricing was stable or slightly lower. US casualty rates remained generally flat or slightly increased, influenced by cedents’ loss histories, reserve

Gallagher Re has announced the promotion of Ben Wathen (pictured above) to chief claims officer. In this role, Wathen will lead the company’s Global Claims

State Farm’s decision, which affected thousands of residents, was part of a broader strategy made in the first half of 2023 and 2024 to reduce