By Courtney FingarMarch 28, 2023 at 08:06 Increased insurance coverage payments have led some borrowers to breach the loan’s debt service coverage ratio. As insurance costs become unsustainable in many high-climate-risk states, lender reform is critical, according to a report from research firm CRE Yardi Matrix. In states such as Florida and Texas, insurance costs… Read More »
The combination of historically high inflation and increasing frequency of natural disasters is creating the most difficult market in a generation for property insurance, the American Property and Casualty Insurance Association said in a new white paper. “Population, housing and business growth in hazard-prone areas exacerbates the impacts of climate change, leading to more frequent… Read More »
Sweeping legal reforms passed. House Bill 837 will make it harder and more expensive to sue insurance companies March 24th This is good news! We no longer have to worry about the insurance crisis hitting Florida. As per the article, House Bill 837 will make it harder and more expensive to sue insurance companies. This… Read More »
The plastic payment option comes at the request of taxpayers and follows recent regulatory changes in the credit card industry, said Coquitlam staff. Coquitlam home and business owners can pay their property taxes online this year by credit card. Property taxes are due on July 4th. The plastic payment option comes at the request of… Read More »
China’s property insurance sector maintains steady growth in 2022, data from the China Banking and Insurance Regulatory Commission shows. Property insurance premiums jumped to 1.5 trillion yuan ($217.6 billion) in 2022, up 8.7 percent year on year, while their payments increased by 2.6 percent from last year to 907.82 billion yuan, data showed. By the… Read More »
TAMPA, Fla. (WFLA) — It’s déjà vu for Florida homeowners. Industry experts warn property insurance rates are expected to increase. So is there anything that can be done to stop this? 8 On Your Side Investigator Mahsa Saeidi continues to cover this crisis. John Rollins is the former Chief Risk Officer at Citizens Property Insurance,… Read More »