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Insurers Shift Cost Burdens to Homeowners
After years of taking losses on home insurance, insurers are increasingly making homeowners responsible for repairs and reconstruction.
Fires? Cost to Insurers Is in Range of $1 Billion
The California wildfires are going to cost only a fraction of the $41.1 billion that insurance companies paid out for Hurricane Katrina.
Allstate to Pare Home Policies Near Shore
Allstate Insurance Group mails notices to policyholders in parts of New York City and Nassau, Suffolk and Westchester Counties, telling them it plans to reduce its business in coastal areas vulnerable to what company sees as increased danger of devastating hurricane; says it will not write new policies or renew some old policies about to expire; Allstate Group is state's largest provider of homeowners' insurance
COMPANY NEWS; ALLSTATE HALTS MOST HOME INSURANCE SALES IN FLORIDA
Edward Liddy, Allstate Corporation chmn, says company stopped selling new homeowner insurance in most Florida counties because it had $1.1 billion in hurricane-related costs this year and state is discussing laws that might increase expenses after future storms