A “major tornado outbreak” brewing across nine states in the central U.S. is adding to insured losses that may already have reached $6.5 billion this season, according to an industry group.
For landlord Peter Zagorianakos, terrorism insurance wasn’t a necessity until the bombs went off last April at the Boston Marathon and revealed a frightening pattern.
The market for insurance that homeowners are required to buy when they lapse on existing policies will contract, said Robert Hartwig, president of the Insurance Information Institute.
California is the only U.S. state where the cost of auto insurance decreased over two decades through 2010, according to a consumer group that attributes the decline to a law that gave regulators more control over rates.
State Farm Mutual Automobile Insurance Co. is among insurers preparing for losses from Irene, which was upgraded to a major hurricane today.
Google Inc. sees self-driving cars being available to consumers in three to five years. Regulators and the insurance industry aren’t so sure it can happen that quickly.
Volatile weather around the world is taking farmers on a wild ride.
BP Plc’s rig explosion that caused the worst oil spill in U.S. history is set to curtail insurance coverage for offshore drilling, forcing companies to self-insure or exit deepwater fields.
"The area has to be safe for insurance adjusters to visit."
- Robert Hartwig on Nov 26, 2014