State Farm Stays Solvent

 

 

In a contentious decision that underscores the ongoing volatility of California’s home insurance market, Insurance Commissioner Ricardo Lara has formally approved a 17% emergency increase in homeowner premiums for State Farm General Insurance, the state’s largest property insurer.

 

Read the Article: California approves emergency rate hike of up to 38% for State Farm

 

 

 

Claim Inflation Surge…On Hold

 

 

In a sudden and partial de-escalation of trade tensions between the United States and China, both countries have agreed to a 90-day suspension of their steepest tariffs. While temporary, the move has already prompted a rush of commercial activity - with implications that extend far beyond retail, deep into the workings of the global insurance industry.

 

Read the Article:  The US back-down on tariffs will have a number of knock-on impacts

 

 

 

Families Under (Cyber)Attack

 

 

A notable 43% of family offices globally have experienced a cyberattack over the last 12-24 months, with 25% experiencing three or more attacks. Those in North America are the most likely to report being attacked (at 57% versus 41% in Europe and 24% in Asia Pacific), along with those with AUM over US$1billion (at 62% versus 38% for those with AUM under $1 billion).

 

Read the Article: Cybersecurity at family offices: Remaining secure and resilient in the digital age