HNW Insurance Market Notes - June 2024
(UN)AFFORDABLE HOUSING
Homeowners in areas battered by climate disasters are facing dizzying insurance rate increases. But builders of housing for the homeless and other low-income families are also struggling.
PANIC SETTING IN
Finding affordable auto insurance is becoming more difficult for Florida drivers. "It got to the point where I was like panic shopping," driver Mark Fitzpatrick said. "How am I going to pay for this?"
TALES FROM THE CLAIM FILES
A lightning strike ignited a fire on an insured’s docked yacht, causing extensive damage despite prompt response from fire crews. Recognizing the loss, Chubb covered the full value of the yacht and personal property, providing peace of mind during a challenging time. Claim Settlement = $6.6M