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...Motor-vehicle maintenance and repair costs, which feed into insurance costs for obvious reasons, are up 6.5 per cent in a year, and 0.8 per cent for January....
...Allstate’s 2Q underwriting results (as measured by its “combined ratio”) highlights what can happen when weather and economic conditions turn against property and casualty insurers....
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...The attorney-general’s office suggested the $175mn bond, which is underwritten by Knight Specialty Insurance Company, should be deemed ineffective, and Trump given another week to find an alternative backer...
...One sector that has learnt the lessons of workouts past is UK commercial property....
...“A purpose-built removals vehicle of the proper spec, the standard sort of 18-tonne truck, is £150,000 to put on the road....
...Motor insurance prices have hit an all-time high, with both combustion engine and electric vehicles feeling the squeeze....
...to the court in order to avoid property seizures while he appeals against a near half-billion-dollar judgment against him and his companies....
...California last month struck a deal with insurance companies to continue writing policies for property in disaster-prone areas, after big US names such as State Farm and Allstate stopped issuing any new...
...Including mortgage payments, mortgage insurance and property taxes, he pays $3,500 per month more today than what he spent on rent at the family’s last home....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...Whatever the cause, executives at both Allstate and Progressive have talked at length about raising prices....
...Insurance companies have pushed up the costs of protecting homes, cars and valued possessions from loss and damage....
...Allstate, State Farm and AIG have stopped underwriting new homeowners’ policies in California because of the risk of destructive wildfires....
...The slowdown of annual consumer price growth from 2.6 per cent the previous month reflected smaller increases in food and goods prices, which offset steady services prices....
...Insurance companies are fleeing Florida as costs to insure property have increased dramatically....
...Across south-east Asia, Penang’s residential property price growth in the first half of 2023 was second only to the expensive city-state of Singapore, according to Knight Frank....
...Big insurers such as State Farm and Allstate said recently they had suspended offering home insurance to new customers in California....
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...However, critics of share buybacks accuse company boards of using them to artificially inflate their share prices and reward senior executives instead of spending on long-term investment or increasing pay...
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...It has a historically low correlation with other asset classes and acts as “insurance” during falling markets and times of geopolitical stress....
...Allstate, the fourth largest property insurer in California, is also holding off on signing new policies....
...Those that remain are increasing prices and reducing their cover, says Charles Foster, chief executive of Lycetts, the UK insurance broker....
...Last week, US insurer Allstate posted a net loss of $310mn in the fourth quarter as higher motor insurance prices were not enough to overcome increased claims costs and related increases in its reserves....
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