After years of volatility, the US small business property insurance market is beginning to stabilise, with increased capacity in constrained areas creating more options for coastal risks and fostering a competitive landscape, according to a new report from Amwins Access.

California insurance commissioner Ricardo Lara has enforced his catastrophe modelling and ratemaking regulation, which is a central part of his Sustainable Insurance Strategy to increase coverage in wildfire-distressed areas of the state.

Windstorm Darragh, which hit western Europe between 6 and 8 December, is expected to generate economic loss in the tens of millions, according to Aon's latest weekly cat report.

The Franklin Fire has scorched 3,983 acres in Malibu as of Wednesday afternoon, with containment at just 7 percent.

Firefighters are battling a brush fire in Malibu near Pepperdine University, prompting evacuations due to hazardous conditions fuelled by strong Santa Ana winds.

Michigan-based wholesale insurance broker Burns & Wilcox has expanded its Wildfire Defense Program to Texas and New Mexico, The Insurer can reveal.

Firas Saleh of Moody’s has warned that insurers need to reassess wildfire risk in the northeast US, with activity soaring in the region this year.

The struggles in California’s beleaguered property insurance market have been laid bare by new figures from the Golden State’s Fair Plan, which show that its assumed exposure soared by 61.3 percent in the 12 months to 30 September 2024 to $458.1bn.

California insurance commissioner Ricardo Lara’s recent moratorium on non-renewals is further tightening the state’s already-strained property insurance market, according to Michael Ray, CEO at Lloyd’s capacity-backed MGA Wildfire Defense Insurance Services.

California’s insurance commissioner Ricardo Lara has submitted new proposed regulation that he believes will increase coverage availability in the wildfire-prone state.

Several fires are burning across the Northeast US, while firefighters also work to contain larger wildfires in California and other western states.

Specialist (re)insurance broker BMS Group has launched BMS Bacchus, a stock throughput solution designed to protect the production, storage and transit of wine. 

Wildfire MGA Delos Insurance Solutions has secured $9mn of Series A funding in a round led by HSBC Ventures, a raise that comes as the insurtech expects to hit $80mn in premium for 2024,

Two of the biggest issues for APCIA members are rebalancing risk in response to natural catastrophes and tackling litigation abuse, the association’s CEO David Sampson has told this publication.

Jeff Walton, director at Howden Re, says collaboration and innovation are needed to deal with the wildfire crisis in California.