News Formal

Disaster insurance: Insurance companies hike rates after extreme storms

  • 📰 12News
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Italia Notizia Notizia

Italia Ultime Notizie,Italia Notizie

Officials say it could take weeks before power is restored to parts of the Texas coast that was hardest hit by Hurricane Beryl.

NEW YORK — Destructive storms like Hurricane Beryl that knocked out power to 3 million homes and businesses in Texas are growing more frequent and intense, and insurers are jacking up rates in response.

Effective rates for homeowner insurance surged by double digits for most insurance companies in 2023, according to S&P Global. Progressive's rates rose 10.4% in 2023, compared with just a 2.9% rise in 2022. Allstate's rates jumped 10.2%, up from 4.3% in 2022. “If this grim forecast comes to fruition, it will likely buoy pricing for many lines of property-casualty insurance and reinsurance, providing certain underwriters' shares with a catalyst,” according to a research report from CFRA.

Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

 /  🏆 586. in İT
 

Grazie per il tuo commento. Il tuo commento verrà pubblicato dopo essere stato esaminato.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Florida’s state-created property insurance company voted to raise homeowners insurance rates by 14%Citizen's Property Insurance wants close to the maximum rate increase for Florida residents starting next year.
Fonte: FoxBusiness - 🏆 458. / 53 Leggi di più »