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Historic Flooding Exposes Homeowners Insurance Gaps

Historic Flooding Exposes Homeowners Insurance Gaps

Inside This Article: Many communities throughout the central United States were submerged after historic rainfall led to life-threatening flash floods.  The Ohio River reached its highest crest since 1997, flooding storefronts in downtown Louisville, Kentucky.  Many homeowners do not have insurance coverage for flood damage because it is excluded under standard Homeowners Insurance policies.  Private Flood Insurance policies can

P&C Report: 2025 Q2 Outlook

P&C Report: 2025 Q2 Outlook

Key Takeaways: Rates are beginning to stabilize or even decline in some non-CAT areas. Market capacity remains healthy, particularly in non-admitted spaces, although often through layered placements, which are becoming more common. Carriers are increasing reliance on exclusions and higher deductibles to manage risk. Wildfire and convective storm risks are driving significant change in both Personal and Commercial Insurance.

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As wildfires continue to affect communities throughout Los Angeles County, we want to express our heartfelt support for the residents, first responders, and all those working tirelessly to combat these devastating fires.

We understand the challenges posed by this crisis. If you need assistance or have questions about your client's coverage during this time, the team at Burns & Wilcox is here to help.