The US government is stepping away from its effort to collect data on home insurance prices and availability at the Zip code level as premiums soar and climate risks to property intensify. Instead, it will join in a collaborative effort with state insurance regulators. When the Treasury Department announced in October 2022 its plans to…
US home insurance rates are expected to reach a record high this year, with the biggest increases occurring in states prone to severe weather events, according to a new analysis. The average premium for homeowners insurance in the US is expected to hit $2,522 by the end of the year, driven largely by intensifying natural…
Northeast auto and home insurer Plymouth Rock Home Assurance and pet insurer Fetch are cooperating on a deal that offers Plymouth Rock insureds a 10% discount on pet insurance for the life of their pet through Fetch. The discount is available to insureds as long as they maintain a Plymouth Rock home policy. Plymouth Rock…
The heavy downpours seen in the UK and Ireland last fall and winter were about 20% worse because of climate change, a new scientific report found. The region saw as many as 14 severe storms between October and March, flooding almost 7,000 homes and businesses, killing at least 13 people, damaging crops and causing power…
Alameda County District Attorney Pamela Price’s Consumer Justice Bureau has sued multiple home insurance carriers in California, including Farmers Insurance Exchange, alleging they’re operating a scheme that knowingly and systematically underinsures homes in California. The complaint alleges these carriers provide consumers with inaccurately low replacement cost estimates, far less than what is needed to rebuild…
Home insurance is becoming unaffordable for a growing number of Australian households as increased climate threats drive up their premiums, potentially putting billions of dollars in mortgage loans at risk, a report said on Monday. As of March 2024, 15% of Australian households were experiencing home insurance affordability stress, which is defined as having premiums…
Intact Financial Corp., the Toronto-based property-casualty insurer, announce that it has acquired Jiffy Inc., Canada’s No. 1 home maintenance app. Through this acquisition, Jiffy will have the platform and capabilities to accelerate expansion of its services across more Canadian jurisdictions while supporting Intact’s goals of engaging three out of four Canadian customers digitally. Financial details…