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Mercury stock suffered the steepest decline, dropping nearly 20%. Roughly one-fifth of the homeowners’ insurance premiums the company collects in the US come from California, according to Moody’s.
Between 2020 and 2022, insurers canceled 2.8 million home coverage policies in the state.
Insurance in the United States refers to the market for risk in the United States, the world's largest insurance market by premium volume. [1] According to Swiss Re , of the $6.782 trillion of global direct premiums written worldwide in 2022, $2.959 trillion (43.6%) were written in the United States.
A recent rule change could cause a spike in insurance premium for homeowners across California, as the costs of the Los Angeles area wildfires are passed onto them in a way that was not allowed in ...
Here's where US indexes stood at the 4:00 p.m. closing bell on Tuesday: S&P 500 : 5,909.03, down 1.11% Dow Jones Industrial Average : 42,528.36, down 0.42% (-178.20 points)
The insurance industry has been criticized by environmental activists and Democratic Party lawmakers for continuing to provide coverage to fossil fuel companies, while Republican Party lawmakers have criticized the industry for curbing policy coverage to oil-and-gas companies (even though most U.S. insurance companies have generally refrained from doing so in contrast to insurers ...
An apparent lack of viable insurance options has a growing number of California homeowners flocking to the FAIR Plan, the state's insurer of last resort.
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