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HNW Insurance Market Notes - December 2024

FRANKLIN FIRE – MALIBU, CA


A fire near Southern California’s downtown Malibu has prompted mandatory evacuations and threatened homes and businesses, including the city’s iconic Malibu Pier. Nearby Pepperdine University canceled classes, as students were forced to shelter in place for hours while watching the flames in the distance.


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Texas Homeowners Insurance

EVERYTHING IS BIGGER IN TEXAS


Homeowners insurance premiums are currently increasing at a faster rate in Texas than in any other state. Many people are urging lawmakers to address the rising costs during next year’s legislative session.


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RAISE THE ROOF


The latest crisis in home insurance may be all about roof damage claims. In fact, the critical point may already be on top of us, so to speak.  The Midwest states of Minnesota, Arkansas, and Nebraska see frequent hailstorms, leading to insurance claims topping $799 million in 2022 claims. 


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