Property Insurance and Risk - Insurance Industry Brief

Florida Adjusters Beware: Failure to Follow Estimating Rule 69BER24-4 Can Jeopardize Your License

Property Insurance Coverage Law

APRIL 23, 2025

Public adjusters and all property insurance adjusters working in Florida need to take notice. These violations could put your license at risk. Failure to comply with the estimating standards laid out in Rule 69BER24-4, now permanently incorporated into Rule 69B-220.201, may result in serious ethical violations.

License

License Property Insurance Risk Insurance

The Antitrust Wildfire Lawsuits That Could Burn Down Insurance Industry Norms

Property Insurance Coverage Law

APRIL 24, 2025

The recent filing of two sweeping antitrust lawsuits in California against a long list of most of the admitted California insurance companies has generated immediate attention within the insurance industry.

Insurance Industry

Insurance Industry Property Insurance Insurance Insurer

Is All Risk Insurance the Same as Property Insurance?

Top Insurance Blogs

APRIL 17, 2025

One of the most common questions clients often ask me is: Is all risk insurance the same as property insurance? appeared first on My Top Insurance Blogs. The short answer is no, they are not the same, although they are closely related.

Peril Based Risk Scoring Is a Growing Trend

Property Insurance Coverage Law

MARCH 23, 2025

Every once in a while, a piece of nerdy insurance legislation catches my eye, not because it disrupts the industry overnight, but because it signals a trend about risk and how property insurance is going to operate. Colorados newly passed HB 25-1182 is a bill that may not make national headlines, but it should.

Risk

Western States Top Wildfire Risk Scores in New Analysis

Insurance Journal

SEPTEMBER 2, 2024

California, Oregon, Colorado, Washington and Arizona are the states most at risk for wildfires, earning an “F” rating, according to a new analysis by Guidewire detailing wildfire risk in the U.S. at local, state, and national levels. Guidewire’s HazardHub data …

Risk

A Comprehensive Guide to Understanding Commercial Property Insurance

Protect Commercial Insurance

APRIL 11, 2025

Navigating the world of insurance can feel overwhelming, especially when it comes to understanding commercial property insurance. This friendly guide will walk you through the essentials of commercial property insurance, helping you protect your business premises and assets with confidence. Let’s dive in!

Commercial Property Property Insurance Commercial Insurance

CoreLogic: Chicago Has Most Homes at Risk from Convective Storms

Insurance Journal

MARCH 6, 2025

Convective storms added to a year of extreme weather events that will put pressure on property insurance rates, particularly in a few hard-hit states, a new report shows. CoreLogic released its 2025 Severe Convective Storm Risk report, highlighting patterns of …

Risk

Insurance Adjusters and Estimators—Do You Really Understand Construction Specifications? Learn From the Construction Specification Institute

Property Insurance Coverage Law

FEBRUARY 7, 2025

Steven Coombs is someone I would affectionally call a master insurance coverage nerd. He recently wrote an International Risk Management Institute n/k/a IRMI article, General Requirements versus General Conditions. … The post Insurance Adjusters and EstimatorsDo You Really Understand Construction Specifications? .

Report: Climate Risks Increasing Insurance Rates and Hurting CRE Returns

Insurance Journal

OCTOBER 28, 2024

Costly reinsurance, inflation, tough regulations, and increasing weather-related claims are driving up property insurance prices—and in turn, that is impacting commercial real estate returns, valuations, and transactions, a new report shows. The Urban Land Institute and real estate investment management …

Risk

Risk Property Insurance Commercial Insurance

Insurance Adjusters and Estimators—Do You Really Understand Construction Specifications? Learn From the Construction Specification Institute

Property Insurance Coverage Law

FEBRUARY 7, 2025

Steven Coombs is someone I would affectionally call a master insurance coverage nerd. He recently wrote an International Risk Management Institute n/k/a IRMI article, General Requirements versus General Conditions. … The post Insurance Adjusters and EstimatorsDo You Really Understand Construction Specifications? .

Does Commercial Property Insurance Cover Water Damage?

Tosten Marketing

FEBRUARY 27, 2025

Commercial property insurance water damage coverage is a complex topic with many nuances. What Water Damage Does Commercial Property Insurance Cover? Commercial property insurance covers several types of water damage, but understanding the specifics is vital. What Water Damage Isn’t Covered?

Commercial Property Property Insurance Damage Commercial

The Hidden Health Risks in Fire-Surviving Structures

Property Insurance Coverage Law

DECEMBER 31, 2024

… The post The Hidden Health Risks in Fire-Surviving Structures appeared first on Property Insurance Coverage Law Blog. These studies are among the first to investigate air quality within smoke and ash-damaged homes and assess the health effects on occupants.

Risk

Risk Property Insurance Damage Insurance

What Perils Are Covered by Commercial Property Insurance?

Property Insurance Centre

FEBRUARY 10, 2025

What Perils Are Covered by Commercial Property Insurance? Commercial property insurance is essential for businesses to protect their assets from unforeseen events. But what exactly does commercial property insurance cover? Below are the most common perils covered: 1.

Commercial Property Property Insurance Commercial Boiler and Machinery

Wildfire Risk Rises as Western States Dry Out Amid Ongoing Heat Wave

Insurance Journal

JULY 11, 2024

Authorities in Western states warned of the rising risk of wildfires as hot conditions and low humidity dry out the landscape amid a protracted heat wave that is expected to bake much of the U.S. again Thursday. California’s top fire …

Risk

Risk Property Insurance Damage Insurance

“I Was Droned!” California Policyholders Are Being Monitored Regarding Their Loss Risk Exposure and Loss Mitigation Attempts

Property Insurance Coverage Law

SEPTEMBER 14, 2024

California Policyholders Are Being Monitored Regarding Their Loss Risk Exposure and Loss Mitigation Attempts appeared first on Property Insurance Coverage Law Blog. I love true competition, and it is one reason why I love being the type of attorney that I am … The post “I Was Droned!”

Policyholder

Policyholder Risk Property Insurance Insurance Companies

Employee Dishonesty Claims—How Far Back Does Coverage Extend?

Property Insurance Coverage Law

APRIL 16, 2025

When businesses think about protecting themselves from risk, they often focus on property damage, natural disasters, or customer lawsuits. appeared first on Property Insurance Coverage Law Blog. However, one of the most damaging and often overlooked threats comes from within: employee theft.

Property Damage

Property Damage Theft Claim Damage

Pirates Invade Tampa! Is an Invasion Covered Under a Commercial Insurance Policy?

Property Insurance Coverage Law

JANUARY 26, 2025

Is an Invasion Covered Under a Commercial Insurance Policy? appeared first on Property Insurance Coverage Law Blog. where I gave a short explanation of the day: Tampas Mayor refused to hand over the keys to the city on Tuesday to … The post Pirates Invade Tampa!

Commercial Insurance

Commercial Insurance Insurance Policy Commercial Policy

FSLA Names New Directors for 2024-2025

Insurance Journal

SEPTEMBER 23, 2024

The Florida Surplus Lines Association, which notes it provides a safety valve for Florida’s property insurance industry, named new officers for 2024-2025 at its recent annual convention in Tampa. President: Virginia Clancy, TAPCO Underwriters President-elect: Albert Geraci, Risk Placement Services …

Underwriting

Underwriting Underwriter Property Insurance Insurance Industry

Wildfire Risk Upends California’s Cannabis Heartland as Insurance Vanishes

Insurance Journal

SEPTEMBER 18, 2024

Hannah Whyte is one of thousands of Californians who have struggled to insure their property in the event of wildfire. Her 77-acre farm nestled deep in a wildfire-vulnerable forest lost its coverage from State Farm after the mountainous region burned …

Risk

Risk Insurance Insurer Insured

IMA Financial Spreads Into Florida Market with Wallace Welch & Willingham

Insurance Journal

AUGUST 8, 2024

IMA Financial Group, a large brokerage specializing in wealth management and risk advice, is moving into the Florida commercial property insurance market with the acquisition of Wallace Welch & Willingham Inc. WW&W, based in the St. Petersburg area, is considered …

Commercial Property Commercial Property Insurance Risk

Equine, Livestock, and Exotic Animal Insurance—What Are the Unauthorized Medication and Proper Care Exclusions?

Property Insurance Coverage Law

SEPTEMBER 17, 2024

The world of property insurance covers a lot of specialty risks. Equine and livestock insurance is one of those special risks. appeared first on Property Insurance Coverage Law Blog.

Observations of Other Insurance Clauses and Overlapping Coverages

Property Insurance Coverage Law

AUGUST 29, 2024

He read my post, What Is an “Other Insurance” Clause and Why Do They Exist In Property Insurance Policies? and sent Mara Essick and me numerous articles about “other insurance” clauses.

Billionaire Tom Steyer’s Commercial Real Estate Lead Says ‘Watch Insurance Risk’

Insurance Journal

OCTOBER 8, 2024

who now works for billionaire climate investor Tom Steyer, says commercial real estate deals will increasingly need to price in rising insurance costs, as hurricane seasons get more destructive … Joseph Sumberg, a former managing director at Goldman Sachs Group Inc.

Commercial

Commercial Risk Insurance Insurer

Policyholders and Public Adjusters Often Need to Hire Their Own Experts

Property Insurance Coverage Law

JANUARY 5, 2025

I often hear this question when discussing a loss with a potential client or public adjuster: Chip, isnt it an all-risk insurance policy? This question is often in response to a question I asked them: What caused the loss?

Policyholder

Policyholder Property Insurance Insurance Policy Policy

When Do Insurance Company Lobbyists and Trade Association Supporters Lie About Insurance Fraud Statistics? Every Time They Say or Write Anything

Property Insurance Coverage Law

NOVEMBER 20, 2024

Professor Jay Feinman, Co-Director of the Center for Risk and Responsibility, has prepared an analysis of the $308.6 For example, the Coalition Against … The post When Do Insurance Company Lobbyists and Trade Association Supporters Lie About Insurance Fraud Statistics?

Insurance Companies

Insurance Companies Property Insurance Insurance Insurer

Buying Blocks of Flats Insurance in London: Key Risks and Costs

Property Insurance Centre

MARCH 11, 2025

Buying Blocks of Flats Insurance in London: Key Risks and Costs When it comes to buying blocks of flats insurance in London, the market is becoming more complex for a number of reasons. In London, block of flats insurance comes with unique challenges and considerations compared to the rest of the UK.

Risk

Risk Insurance Insurer Insured

How Much New Risk Can Insurance Customers and Insurers Take?

Majesco

FEBRUARY 13, 2025

Today’s insurance customer is under pressure and assault from every angle: Cyber criminals are using data breaches to access bank accounts and credit. Climate risk is growing, and a greater number of Cat events are threatening people and their property. Risk is growing, shifting, and becoming more complex.

Risk

Risk Insurance Insurer Insured

Energy Transer Fuel Leak in Pennsylvania Lasted 16 Months, PHMSA Says

Insurance Journal

FEBRUARY 28, 2025

A pipeline operated by Energy Transfer LP leaked jet fuel for at least 16 months, contaminating residential water wells in Pennsylvania, and the conduit may be at risk for further incidents, according to a preliminary investigation by regulators. Residents of …

Risk

Risk Insurance Claim Property Insurance Claim

Trade Credit Insurance—Applications and Right Complete Answers Are Important While Wrong Answers May Result in No Coverage

Property Insurance Coverage Law

SEPTEMBER 1, 2024

Trade credit insurance is a risk management tool that protects businesses against losses from unpaid invoices or accounts receivable. It covers a company’s trade receivables in case a customer fails to pay due to insolvency, bankruptcy, default, or other reasons specified in the policy.

When is a Collapse Not a Collapse? The Importance of Proving Damages for Partial Losses

Property Insurance Coverage Law

DECEMBER 17, 2024

A recent builders risk insurance dispute out of Tennessee 1 involving collapse caught my attention because of the opening facts recited by the court: How many fallen bricks does a collapse make? The Importance of Proving Damages for Partial Losses appeared first on Property Insurance Coverage Law Blog.

Damage

Damage Property Insurance Risk Insurance

Weathering the Storm: Key Insights from the 2025 CoreLogic® Severe Convective Storm Risk Report

Insurance Journal

MARCH 5, 2025

As property insurance costs continue to rise, homeowners and insurers alike are facing new challenges. This post is part of a series sponsored by CoreLogic. While hurricanes and wildfires often dominate discussions around natural disasters, severe convective storms (SCS) remain …

The Looming Homeownership Crisis: A Ticking Time Bomb of Underinsurance, Insurance Premiums, Taxes, Systemic Losses, and Owners Not Able to Pay for Costs of Ownership

Property Insurance Coverage Law

DECEMBER 28, 2024

Americas housing market is teetering on the edge of a crisisa situation fueled by climate change, soaring insurance premiums, underinsurance, and systemic failures in addressing these growing risks.

Premium

Premium Property Insurance Insurance Insurer

AXA CEO Says Prevention Needed to Keep Home Insurance Affordable

Insurance Journal

FEBRUARY 27, 2025

A leading insurance executive said the best way to keep price increases in check for property insurance in regions exposed to climate change is to mitigate the impact of natural disasters. Prevention needs to become “a mandatory part” of insurance …

Home Insurance

Home Insurance Property Insurance Insurance Insurer

Lithium Batteries a risk management issue.

Prof. Allan Manning

MARCH 5, 2024

The reality is that Lithium batteries are in many items today and we need to personally manage the risk. Earlier this year, I went to the LMI College and LMI RiskCoach teams and asked if they could put together a short course on the risks associated with the batteries.

Risk

Risk Business Interruption Casualty Insurance Property Insurance

Mistakes in setting sums insured / declared value where the Insured elects an Indemnity Period of less than 12 months.

Prof. Allan Manning

FEBRUARY 10, 2025

I recall the very first business interruption claim I did was for a risk in Toowoomba and to my horror found that the Insured had only declared 3 months insurable gross profit with a 3-month Indemnity Period. of their loss.

Business Interruption

Business Interruption Claim Insurance Insurer

Jupiter Launches $1M in Added Capacity Above FAIR Plan for California Homeowners

Insurance Journal

FEBRUARY 4, 2025

Jupiter Risk Services has launched its Jupiter Private Client Excess Homeowners Insurance (XS Homeowners), a property insurance product providing up to $1 million in additional capacity above the California FAIR Plan. Features of XS Homeowners Insurance include: Available through certain …

Court Says Builder’s Risk Policy Limited Coverage for Additional Insureds

The Property Insurance Law Observer

MARCH 25, 2024

March 11, 2024), the Court determined that the plaintiff property owner, as an additional insured, was not entitled to the same insurance coverage as the named insured where the builder’s risk policy limited the scope of recovery for soft costs and rental income.

Policy

Policy Risk Insurance Insurer

Florida Braces for Potential Gulf Hurricane Strike This Week

Insurance Journal

SEPTEMBER 23, 2024

The US Gulf Coast from Mississippi to the Florida Panhandle is at risk of a hurricane strike by the end of the week as a patch of turbulent weather in the Atlantic becomes more organized. Currently a swirl of thunderstorms …

Risk

Risk Property Insurance Insurance Claim Claim

Viewpoint: It Is Insurers’ Time to Lead a Resilience Revolution

Insurance Journal

JANUARY 8, 2025

There is a risk crisis affecting the insurance industry. Hurricanes Helene and Milton left a trail of tens of billions of dollars of destruction across the southeastern United States. These latest storms have shown that no region is safe from …

Insurance Industry

Insurance Industry Insurance Insurer Insured

CBO Says Mortgage Subsidy Cost from Flood Damage to Hit $395M by 2053

Insurance Journal

JULY 11, 2024

posing greater risks to homeowners and mortgage lenders—and since flood damage tends to lower the market value of affected homes, it’s more likely that homeowners … Climate change is expected to increase the frequency and severity of floods in the U.S.,

Damage

Damage Risk Property Insurance Insurance

Understanding Multi-Family Property Insurance in California.

Jackson & Jackson

MAY 22, 2024

Multi-unit commercial properties in California offer investors the potential for significant returns. However, with great opportunities come great risks. Investors must understand the importance of securing comprehensive commercial property insurance coverage to protect their investments.