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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.

As auto insurance shopping rates rose during the fourth quarter of 2023, carrier retention rates dropped.

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.

Here’s what it would have cost the McCallisters to leave Kevin behind for Christmas in the ’90s holiday classic “Home Alone.”

An estimated 39 million U.S. homes are underinsured compared to the risk they actually face from weather events, such as hurricanes, wildfires and floods, according to the First Street Foundation.

The hearing highlighted the recent property insurance market turmoil due to the major disasters in Florida, Georgia, the Carolinas, California, Hawaii and Vermont.

This week, Farmers Insurance said it will stop offering home, auto and umbrella policies in Florida.

This week, Nationwide announced it is pausing writing business in certain lines of insurance, joining the list of insurers who have withdrawn from markets.

CoreLogic’s “2023 Hurricane Risk Report” provides a detailed look at what’s at stake for the U.S. as hurricane season commences.

State Farm cited the hard market and protecting the company’s bottom line as the reason for the withdrawal.