A client is purchasing half of a duplex to rent on a long-term lease. The underwriter says that coverage should be written on an HO3 policy with an endorsement providing coverage for rental to others.
The latest driving behavior survey from Nationwide revealed that both personal auto and commercial drivers partake in risky behaviors that impact all drivers on the road.
In addition to $65 billion in CAT losses, AM Best analysts also said both economic and social inflation played large roles in property & casualty losses.
Affluent homeowners face issues because of an aggregation of high-value homes in areas that are becoming riskier due to changing weather patterns.
Which policy would a couple living in a retirement community need to cover their improvements? Would it also cover their golf cart?
As auto insurance shopping rates rose during the fourth quarter of 2023, carrier retention rates dropped.
While the hard market has cut deep into nearly every insurance market, the scale and magnitude of its impact on the bread and butter of personal lines has turned what was once a simple product into a nightmare.
“To me, it seems to be at the center of insuring families,” says independent agent Billy Wagner. “Our goal wasn’t just to sell policies but to facilitate informed purchasing decisions through education and simplification.”
In the event of a claim—dog-related or otherwise—would the carrier be able to declare the policy void back to inception due to fraud or material misrepresentation by the applicant?
The outlook for the U.S. property & casualty insurance industry is more favorable than 2023, with expected strong premium growth and easing inflation pressures, according to Swiss Re.
