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5 days ago | 
propertycasualty360.com | Corey Dahl
Homeowners in markets once thought of as safe are seeing insurance become pricier and less available. (Credit: Monkey Business/Adobe Stock) Hurricane risk is poised to radically change coastal communities from Texas to Maine, according to a new report from Cotality. The report found hurricane risk, higher insurance prices and, in some areas, no availability of insurance are causing many home buyers to shift away from coastal communities.
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1 week ago | 
401kspecialistmag.com | Corey Dahl
TIFIN has announced a multi-year partnership with HUB International, integrating @Work, its AI-based retirement platform, into HUB’s FinPath wellness platform. The integration will allow HUB to use TIFIN @Work to deliver AI-driven financial advice to plan participants as well as guide participants to HUB’s financial coaches and other services.
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1 week ago | 
propertycasualty360.com | Corey Dahl
First-time homebuyers keep getting older, according to a report from ResiClub Analytics. The median age of first-time U.S. homebuyers in 1991 was 28. In 2024, the median age of first-time buyers was 38. The increase is driven by multiple factors. Housing prices have increased significantly, making it harder for young people to afford a home right away. Younger generations are also delaying life events — attending school longer and marrying and having children later.
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1 week ago | 
401kspecialistmag.com | Corey Dahl
Financial professionals are using May 29—National 529 Day—to highlight 529 plans and their benefits, at a time when many Americans are struggling with education costs.
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1 week ago | 
401kspecialistmag.com | Corey Dahl
Online retirement provider PensionBee is now offering a Simplified Employee Pension (SEP) IRA designed for self-employed professionals through its digital platform. The PensionBee SEP IRA is available to self-employed individuals and single business owners and offers: • Higher contribution limits: SEP IRAs allow account owners to contribute up to 25% or $70,000 of income, higher than Traditional IRA limits, which are $7,000 for people under 50 and $8,000 for those over 50.
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1 week ago | 
propertycasualty360.com | Corey Dahl
Policyholders whose homes survived the LA wildfires say soot and chemical residue have made them uninhabitable. (Credit: Amanda Bronstad/ALM) California Insurance Commissioner Ricardo Lara has formed a new task force to create standards for smoke damage insurance coverage and clean-up. The task force will evaluate and recommend best practices for inspecting and remediating smoke-damaged properties and develop statewide standards for insurers.
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1 week ago | 
401kspecialistmag.com | Corey Dahl
Income Lab, a retirement planning software program, has launched a new Social Security Optimization tool to help advisors model different Social Security claiming strategies for their clients. The tool is meant to address client concerns around:• Longevity and mortality risk, helping advisors show clients what’s at stake if they do or don’t live until their 80s or 90s. • Early retirement, allowing clients to decide whether it’s worth it to retire early and take slightly reduced benefits.
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1 week ago | 
propertycasualty360.com | Corey Dahl
Average rental prices are cheaper than average mortgage payments in many major markets these days — and renting comes with lower insurance costs. According to Triple-I, the average renters insurance policy costs $170 annually, or $14 monthly. The average homeowners insurance policy right now is $2,110 per year, or about $176 per month, according to NerdWallet. Renters insurance, also known as HO-4 insurance, covers tenants and their belongings in the event of covered damages.
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2 weeks ago | 
propertycasualty360.com | Corey Dahl
Around 129,500 non-residential building fires break out every year, according to the U.S. Fire Administration. In 2023, those fires led to 130 deaths, 1,200 injuries and more than $3.16 billion in losses. Non-residential building fires are on the rise. Over the last 10 years, the U.S. saw a 19% increase in such fires, as well as 70% increase in deaths and a 10% increase in dollar loss. Your access to unlimited PropertyCasualty360 content isn’t changing.
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2 weeks ago | 
propertycasualty360.com | Corey Dahl
Profitable results might create pressure to keep premium pricing unsustainably low, the report says. (Credit: Nuthawut/Adobe Stock) Insurers providing directors and officers liability coverage had their most favorable loss experience in more than a decade in 2024 — but risks loom, according to a new AM Best report. According to the report’s analysis, the direct loss ratio for D&O liability improved by more than 10 percentage points from the high over the last 11 years of 62.4 in 2017 and 2018.
