Homeowners' insurance

With Maui wildfire investigations beginning to point the finger at Hawaii Electric, it’s possible the insurance industry will see things play out as they did with PG&E in California, but the smaller scale of local utilities suggests lower potential recovery for insurers.

On the surface, InsurTech results were better than the noise from incumbents, but caution is needed to ascertain the quality of new business coming in during a time when even industry leaders stumble.

Inside P&C’s news team runs you through the key highlights of the week.

The CEO said he expects the total number of policies from the October takeout to “be substantially lower than 100,000”, roughly around 30% to 50% of the approved figure.

According to a source familiar with the matter, policyholders will see four changes coming – some nationwide and others specific to certain states.

AIG expects to add new capital providers to its recently launched HNW MGA “in the coming quarters”.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The non-renewals would have impacted Georgia homeowners with roofs over 15 years old, said Insurance Commissioner John King, calling it a “blatant violation of Georgia law”.

The letter also called out California insurance companies for investing more than $536bn in the fossil-fuel industry in 2019 alone.

Inside P&C’s news team runs you through the key highlights of the week.

Capacity is still short of demand, even in the non-admitted market where carriers are not subject to regulatory approval for prices.