Daily P&C Insurance Agent News
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Property & Casualty Insurance Daily
Today’s Top Stories
2026 Home Insurance Rates: Will SoCal’s Record-Wet Months Push Premiums Higher?
February 12, 2026
An extremely wet November in Southern California has raised new concerns about flooding, mudslides, and how reinsurers will price risk heading into 2026. Large carriers have requested significant rate increases in California, sometimes totaling around 30% or more when multiple filings are combined, citing extreme wildfire losses and capital strain.
Insurers Forced to Defend Claims Policies for Fire Victim Payouts
February 3, 2026
California lawmakers have asked top home insurers to explain their claims policies after fire victims reported demands for itemized receipts and photographic evidence of losses, even when records were destroyed in burned homes. A new state law now allows fire victims to receive up to $350,000 or 60% of their personal property coverage without needing a detailed inventory if a disaster has been declared.
Structural Shift Occurring in California Surplus Lines
February 11, 2026
2025 marked a decisive turning point for California’s property insurance landscape as major carriers intensified their pullback and more homeowners migrated into surplus lines and the California FAIR Plan. CSAA will begin rate increases for nearly 481,800 homeowners starting in March, while Mercury Insurance is expected to begin rate hikes in July for more than 650,000 homeowners.
LA Wildfire Losses Changing How High-Value Homes Are Built, Bought, and Insured
February 2026
Many Los Angeles wildfire survivors have discovered that their insurance limits fall short of current rebuilding costs, leaving them unable to rebuild their homes. Rising construction expenses and high demand following disasters are increasing the risk of underinsurance nationwide, making regular coverage reviews and limit updates essential for homeowners.
Property-CAT Reinsurance Enters Buyer’s Market With 10-15% Rate Reductions
February 2026
Property catastrophe reinsurance is entering a buyer’s market with significant rate reductions of 10-15%, marking a shift from the sharp increases seen through 2023. This softening in reinsurance pricing may help stabilize premium growth for property insurers, though high-risk regions are expected to remain expensive.
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