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Accidental cause finding clears path for major Tasmanian power station fire claim
3+ day, 22+ hour ago (313+ words) The Tasmania Fire Service has determined that the fire which gutted the Tungatinah Power Station in Tasmania's Central Highlands last week was accidental. The finding removes the most significant obstacle to what is shaping up as one of the largest…...
LA County Probing Farmers Insurance Over Wildfire Survivor Claims
4+ day, 6+ hour ago (470+ words) LOS ANGELES (CNS) - Los Angeles County is investigating Farmers Insurance Company's handling of insurance claims filed by policy holders affected by the January 2025 Eaton and Palisades Fires, officials announced Unfair Competition Law and ``follows growing complaints from residents about delays,…...
Wildfire season forecast arrives as rural cover assumptions unravel
1+ week, 4+ day ago (707+ words) Insurance Business Wildfire season forecast arrives as rural cover assumptions unravel Rural and lifestyle block policies across major insurers carry structural differences in fencing fire cover that leave some clients exposed when ignition risk is highest Fire and Emergency New…...
Insurers must brace for US$171 billion in annual cat losses, study finds
1+ week, 5+ day ago (762+ words) The global insurance industry did not get a quiet year in 2025. It got a year without a US landfalling hurricane that still produced more than US$100 billion in insured losses, for the sixth consecutive year. The average annual loss (AAL)…...
Rebuild costs outpace inflation, exposing sum insured gaps
1+ week, 6+ day ago (465+ words) The analysis, published as part of the ICA's annual Insurance Catastrophe Resilience Report, draws on Cotality's Cordell Construction Cost Index (CCCI). It shows building costs rose around 30% in the five years to March 2026, against consumer price index growth of about 24% over…...
When your home becomes a rental: The insurance most owners forget to update
2+ week, 6+ day ago (976+ words) In today’s shifting housing market, homeowners who are unable to secure their desired sale price are increasingly turning their properties into rental homes rather than selling. According to Kara Ng, senior economist at Zillow, 2.3% of the homes currently listed for…...
California coalition urges lawmakers to reject Newsom wildfire plan over insurance costs
3+ week, 1+ day ago (400+ words) The dispute is unfolding as California's wildfire liability fund is close to running out. A California alliance that includes fire survivors and consumer advocates is pushing back on Gov. Gavin Newsom's wildfire recovery reform proposal, which it says puts survivors…...
Europe's heatwaves expose insurance gap as business losses mount
3+ week, 3+ day ago (776+ words) A large part of Europe is in the grip of its fifth heatwave of the summer. That includes France, where temperatures in parts of the country have soared to 40 degrees Celsius, triggering a wildfire in the southwest. Monte Francis has…...
Firefighters' income cover shrinks after claims outpace premiums
3+ week, 3+ day ago (807+ words) New Zealand's firefighters have long pointed to their union-run income protection scheme as one of the more generous group covers in the country. That scheme is now being repriced after claims outpaced premiums, and the changes taking effect on September…...
RockRose Risk Raises $12.5 Million Series A To Build Vertically Integrated Wildfire Insurance And Mitigation Platform
3+ week, 4+ day ago (395+ words) RockRose Risk has raised $12.5 million in Series A financing to expand its wildfire-focused insurance platform and evolve from a technology-enabled brokerage into a vertically integrated risk management business. The round was co-led by Crosslink Capital and Congruent Ventures, with participation…...