2024 Insurance Industry News

2024 Insurance Industry News

Here we will post articles that may be relevant to our personal, commercial, and health & life clients. These articles will primarily focus on our clients residing in Arizona, California, and Nevada. Below you’ll find the underlined links to the articles, as well as a short summary of each.

    • 10/21/2024 — Auto Insurance Price Increases Slowing — Inflation in the cost of auto insurance is down to 16.3% in September year over year (from a peak of 22.6% in April). However, many insurance carriers are no longer writing auto insurance without a home & auto bundle.
    • 10/4/2024 — Hurricane Helene Highlights Lack of Flood Insurance — Less than 0.8% of homeowners in inland areas have flood insurance coverage, so when flood damage like in the recent hurricanes, many are left to pay for damages themselves. As a reminder, flood coverage is not part of a standard homeowners’ policy.
    • 3/25/2024 — Insurance Carriers Exit California — This year State Farm, as well as numerous carriers that A and H works with, are exiting California and non-renewing homeowners and other policies. They site inflation, regulatory costs and increasing risks of fire as why they are no longer doing business in the state.

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