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Reprinted With Permission Of The PublisherPROPERTY INSURANCE REPORTThe Authority on Insuring Homes and Commercial PropertyVol. 25#10/586Oct. 29, 2018INSIDESize has been a barrier for Symbility, aproblem CoreLogic has solved. Page 2Choose: Closed, tightly integratedsoftware, or open architecture? Page 2Fewer adjusters pain. Page 3Maryland’s improved regulatory efficiency speeds decisions. Page 7Stable Maryland prices. Page 8Hurricane MichaelExposes Gaps in FloridaBuilding CodesHurricane Michael, the strongest recorded hurricane to hit theFlorida Panhandle, has turned aspotlight once again on the ability of building codes to mitigatedamage and protect communities.While Florida is known for its verystrong building codes, those alongthe Panhandle are far less stringent.According to a structural engineer quoted in the Miami Herald,most new structures in Miami-DadeCounty must be designed to withstand winds of about 175 mph,while the standard in the part of thePanhandle that suffered the mostdamage is about 120 mph, risinggradually to 150 mph.As Michael blasted into Florida, it attained peak winds of 155mph, putting it just shy of CategoryPlease see GRAPEVINE on Page 10CoreLogic Acquires Symbility,Turning Up Pressure on XactwareIn a transaction that has been in the works for manyyears, CoreLogic last week announced its intention to buythe remaining outstanding shares of property claims estimation system provider Symbility. CoreLogic already owns28% of the company. The deal is expected to close by theend of the year.The move immediately provides a boost to Symbility’s18-year campaign to challenge Verisk’s Xactware subsidiary, which is by far the dominant provider of claims estimation software and data to property insurers in the UnitedStates.CoreLogic has a stated goal of diversifying, reducingits heavy reliance on providing data and services to themortgage and real estate industries by growing in other segments. Toward that end, CoreLogic has been working hardPlease see SYMBILITY on Page 2Maryland’s Market Is Stable, ButThe Political Environment Is NotIn Maryland’s remarkably stable homeowners insurance market, the greatest uncertainty today is the degree towhich a political shakeup might change the business environment.Insurance Commissioner Al Redmer Jr. – who receivescredit for greatly improving the regulatory environmentsince returning to the Maryland Insurance Administration in January 2015 – is the underdog in his run for theoffice of Baltimore County executive to succeed KevinKamenetz, who died in office in May. While history isagainst Redmer, the popularity of GOP Gov. Larry Hogan,an ally who seems a shoo-in for re-election, may boost hisprospects against his Democratic opponent. The office hasbeen held by only two Republicans since its creation in1956, including former Vice President Spiro Agnew.Insurers wouldn’t be too upset if Redmer lost his racePlease see MARYLAND on Page 533765 Magellan Isle Dana Point, CA 92629 (949) 443-0330 www.riskinformation.com
Reprinted With Permission Of The PublisherPage 2PROPERTY INSURANCE REPORTOctober 29, 2018SYMBILITY Continued from Page 1to expand its footprint in the insurance industry,most notably acquiring property valuation specialist MSB in 2013. That acquisition broughtwith it a share in Symbility, a Canadian companyin which MSB’s owners had an investment after Symbility bought MSB’s claims division in2012. Symbility, which opened its doors in 2004,had taken control of IntegriClaim, MSB’s failedeffort to compete with Xactware’s Xactimatesoftware.Like any startup unencumbered by a largecustomer list, Symbility was able to build acloud-based platform open to third-party collaboration and make quick tweaks to respond tocustomer needs. The company has had successoutside of the United States, winning clientsin England, Belgium, Germany, and elsewhereSymbility’s lack of size wasa barrier to sales, but CoreLogichas solved that problem.in direct competition with Xactware, but it hasfound harder going in the United States. ThoughSymbility is used by Chubb and Erie Insurance, the ninth and 10th largest U.S. home insurers, as well as a number of medium sized-carriers, such as QBE and American Modern,Xactware has remained the dominant player.Symbility lured Farmers Insurance awayfrom Xactware in 2010, but the fifth-rankedhome insurer returned to Xactware in 2014.Though losing Farmers was a blow, the ventureleft behind a long-term gain. Farmers insistedthat Symbility partner with CoreLogic and useits construction cost database, which Farmersargued was morerobust than Symbility’s data. That closeworking partnershipworked so well forSymbility that it hascontinued to useCoreLogic data and was able to forge a closerworking relationship that led ultimately to theacquisition. Compiling construction cost data isperhaps the biggest barrier to entry for anyoneseeking to compete with Xactware, which hasdecades of experience. In CoreLogic, Symbilityfound a partner that could bring it on par withXactware’s database, or at least close enough tosatisfy many insurers.A major barrier to Symbility’s success in theUnited States has been its small size. A claimestimating platform is at the very core of a property insurer’s operation, and gambling on a smallCanadian company with few large customersis hard for insurance company executives, whocannot be criticized for sticking with marketleader Xactware. In addition, replacing one system for another is always disruptive and risky,raising the stakes further. But as a subsidiary ofdata giant CoreLogic, with about 1.9 billion in2017 revenue, Symbility’s days as “too small”are behind it. By comparison, Verisk had 2017revenue 2.1 billion.Xactware’s team understands the value ofa big backer. Though it was already the marketleader at the time, the 2006 acquisition of family-owned Xactware by Verisk’s predecessor,ISO, was a substantial boost to the Utah-basedcompany’s market dominance.Symbility has been making its case that adifferent business model makes it worthy of consideration. Unlike Xactware, which is a tightlyintegrated system (think of Apple’s closed operating system), Symbility was built on an openarchitecture specifically designed to incorporatethird parties (think Google’s Android OS).Of course, any rational person would happilytrade the flexibility that comes with Symbility’ssmall size in return for the challenges of managPlease see SYMBILITY on Page 3Warning: Property Insurance Report is a confidential, copyrighted newsletter for subscribers only.No part of this publication may be reproduced by any form or means, including photocopying, scanning, fax or email, without prior permission of the Publisher. For information call (949) 443-0330.
Reprinted With Permission Of The PublisherOctober 29, 2018PROPERTY INSURANCE REPORTPage 3SYMBILITY Continued from Page 2ing the legacy offering of the market behemoth.An Xactware customer neatly summed up thatchallenge for us not long ago: “When Xactimate is changed, I always get mad about theshort-term disruption. And then when I look tothe long-term, I always get mad that they’re notchanging enough.”Xactware is certainly aware of the challengesof its market position and the need to delicatelyupdate the legacy systems that have brought it todominance. For example, the company has beenworking hard to encourage insurers to take advantage of ClaimXperience, a tool it developedthat lets claims representatives collaborate withpolicyholders throughout the process.And while Xactware does not have a reputation for happily partnering with other vendors, itdoes have deep integration with companies suchas EagleView, the provider of aerial imagery,data and analytics.There is also a modest ecosystem of outside companies that provide enhancements toXactware products, such as Accurence, whichprovides a front-end to Xactimate.Xactware customers are still wondering if thecompany will find a way to augment its closedsystem – which offers many benefits of completecontrol – with a large, carefully vetted ecosystemof third-party players, as Apple has profitablyfostered through its App Store.An insurance example can be found atGuidewire, the provider of core infrastructuresoftware. The company created Guidewire PartnerConnect, which it describes as “a network ofselect partner companies that provide consultingservices and solutions to enhance, extend andcomplement the capabilities of Guidewire products.” Earlier this month Guidewire held a largecustomer conference in Las Vegas, where it specifically highlighted these partnerships.It remains to be seen if the management ofpublicly traded Verisk will be willing to makean even larger investment in further developingXactimate, perhaps moving toward an updatedarchitecture. Integrating more aggressively withthird parties, too, is very expensive and difficult.It can be hard for any owner to accept lower returns from a highly profitable subsidiary such asXactware when the competition has not yet proven to be a significant threat.But everyone we talked with last weekagreed that the CoreLogic acquisition changesAll vendors must face aworld with fewer adjusters inthe field calculating appraisals.the dynamic. In addition to giving insurers theconfidence in Symbility that comes with beingpart of a market giant, CoreLogic brings the kindof analytic firepower that Symbility alone couldnever develop.For data-driven software solutions such asa claims estimating tools, artificial intelligencewill need to be an integral part of the process.What questions to ask, what data sets to consider, and what actions to take are decisions that areincreasingly being automated and taken awayfrom field adjusters. Only with a partner such asCoreLogic could Symbility hope to compete onthis front with Xactware, which is similarly reinforced by the analytical powers of Verisk.One of the major trends disrupting bothXactware and Symbility is the shift away fromusing highly trained adjusters in the field. Instead, they work at their desk while having lowercost personnel visit a site to take the video andPlease see SYMBILITY on Page 10Warning: Property Insurance Report is a confidential, copyrighted newsletter for subscribers only.No part of this publication may be reproduced by any form or means, including photocopying, scanning, fax or email, without prior permission of the Publisher. For information call (949) 443-0330.
Reprinted With Permission Of The PublisherPage 4PROPERTY INSURANCE REPORTOctober 29, 2018MarylandHomeowners Multiperil InsurersGroups RankedRanked byby TotalTotal 20172017 DirectDirect PremiumPremium WrittenWritten (000)(000)GroupsGroup NameNameGroupState FarmFarmStateAllstateCorp.Allstate Corp.Erie InsuranceInsuranceErieUSAAInsurance GroupGroupUSAA InsuranceTravelers CompaniesCompanies Inc.Inc.TravelersLiberty MutualMutualLibertyNationwide MutualMutual erican Family Insurance GroupChubb Ltd.Ltd.ChubbHartford FinancialFinancial ServicesServicesHartfordFarmers InsuranceInsurance n Mutual Insurance Co.Donegal InsuranceInsurance GroupGroupDonegalQBEInsuranceGroupLtd.QBE Insurance Group Ltd.Assurant Inc.Inc.AssurantMetLife Inc.Inc.MetLifeAmica MutualMutual InsuranceInsurance Co.Co.AmicaCSAAInsuranceExchangeCSAA Insurance ExchangeCincinnati FinancialFinancial te Auto Insurance CompaniesAmerican InternationalInternational tive Insurance Group Inc.Cumberland InsuranceInsurance e InsuranceFrederick MutualMutual InsuranceInsurance Co.Co.FrederickKemper Corp.Corp.KemperKlinefelter InsuranceInsurance GroupGroupKlinefelterPennNationalInsurancePenn National InsurancePUREPUREMutual BenefitBenefit InsuranceInsurance Co.Co.MutualAmeriprise FinancialFinancial Inc.Inc.AmeripriseWT HoldingsHoldings Inc.Inc.WTPhiladelphia ReMunich ReMain StreetStreet AmericaAmericaMainLititz MutualMutualLititzAmerican NationalNational gsUniversal Insurance HoldingsHorace MannMann EducatorsEducators Corp.Corp.HoraceFarmersMutlFireInsCoSalemFarmers Mutl Fire Ins Co SalemStatewide TotalsTotalsStatewideMkt LossLossMktshare RatioRatio20172017share2017 20172017Premium 2017Premium 320,103 320,103 213,837 213,83718.2%%18.212.2%12.2%57.3%%57.348.7%48.7% 171,084 171,084 148,009 148,0099.7%%9.78.4%%8.441.6%%41.646.3%%46.3 198,956 198,956 188,564 188,564 137,712 137,712 63,617 63,617 46,104 46,104 25,234 25,234 16,847 16,847 14,979 14,979 14,379 14,379 13,817 13,817 13,475 13,475 13,366 13,366 13,354 13,354 12,745 12,745 10,746 10,746 9,810 9,810 8,926 8,926 8,132 8,132 7,466 7,466 7,364 7,364 7,021 7,021 6,939 6,939 6,203 6,203 5,817 5,817 5,729 5,729 5,703 5,703 5,249 5,249 4,624 4,624 4,479 4,479 3,598 3,598 2,979 2,979 2,265 2,265 2,206 2,206 1,909 1,909 1,726 1,726 1,627 9%45.9%Mkt LossLossMktshare RatioRatio20162016share2016 20162016Premium 2016Premium 320,549 320,549 212,704 212,70419.0%%19.012.6%12.6%53.1%%53.148.5%48.5% 166,685 166,685 142,909 142,9099.9%%9.98.4%%8.439.8%%39.843.6%%43.6 189,998 189,998 174,990 174,990 133,629 133,629 50,768 50,768 45,877 45,877 25,256 25,256 17,506 17,506 14,376 14,376 13,569 13,569 12,554 12,554 11,600 11,600 13,696 13,696 12,211 12,211 11,175 11,175 8,806 8,806 10,931 10,931 8,026 8,026 7,789 7,789 7,170 7,170 5,387 5,387 7,090 7,090 7,481 7,481 5,569 5,569 5,582 5,582 4,509 4,509 5,459 5,459 4,720 4,720 4,720 4,720 2,156 2,156 4,184 4,184 2,496 2,496 2,168 2,168 1,992 1,992 1,414 1,414 1,721 1,721 1,592 %% 107.6107.6%%0.50.5%26.0%0.5% 26.0%0.4%47.9%0.4% %54.7%%54.7Mkt LossLossMktshare RatioRatio20152015share2015 20152015Premium 2015Premium 313,480 313,480 208,844 208,84419.3%%19.312.8%12.8%53.0%%53.052.5%52.5% 166,459 166,459 137,799 137,79910.2%%10.28.5%%8.538.0%%38.056.4%%56.4 178,610 178,610 164,169 164,169 131,933 131,933 40,195 40,195 36,046 36,046 23,265 23,265 16,474 16,474 14,995 14,995 12,411 12,411 11,905 11,905 9,536 9,536 13,885 13,885 11,349 11,349 9,447 9,447 6,503 6,503 11,008 11,008 7,084 7,084 7,255 7,255 6,845 6,845 4,740 4,740 7,717 7,717 8,521 8,521 5,108 5,108 5,282 5,282 3,268 3,268 5,308 5,308 4,793 4,793 4,685 4,685 851 .0%36.4%%36.443.6%%43.60.7%% 78.278.2%%0.70.6%101.0%0.6% 101.0%0.4%66.5%0.4% 66.5%0.7%% 50.150.1%%0.70.4%% 361.5361.5%%0.40.5%44.3%0.5% %55.438.0%38.0%70.8%%70.857.1%%57.1 4,559 4,559 2,199 2,1990.1%% 179.8179.8%%0.10.3%39.6%0.3% 39.6%0.1%62.7%0.1% 62.7% 1,018 1,018 1,757 1,7570.1%%0.10.1%0.1% 1,989 1,989 1,831 1,831 1,534 1,534 1,756,47552.5%% 1,691,101 1,691,10150.4%% 1,628,226 1,756,47552.550.4 1,628,226Source: SNLSNL Financial,Financial, byby permission,permission, andand thethe PropertyProperty InsuranceInsurance ReportReport database.database.Source:Loss ratioratio incurredincurred losses/directlosses/direct premiumpremium earnedearned andand doesdoes notnot includeinclude dividendsdividends oror lossloss adjustmentadjustment 54.8Warning: Property Insurance Report is a confidential, copyrighted newsletter for subscribers only.No part of this publication may be reproduced by any form or means, including photocopying, scanning, fax or email, without prior permission of the Publisher. For information call (949) 443-0330.
Reprinted With Permission Of The PublisherPROPERTY INSURANCE REPORTOctober 29, 2018Page 5State Market Focus: MARYLANDContinued from Page 1and remained commissioner, a position he alsoheld from 2003 to 2005. But if he wins, they canonly hope Hogan would appoint a successor witha similar approach to regulation.The greater uncertainty for insurers concernsthe legislature. Although Democrats hold a 2-to1 majority among registered voters in Maryland,Republicans are hopeful that Hogan’s popularitywill help them break the veto-proof majorityDemocrats have held for a half century in thestate Senate. It requires them to flip five seats,including two held by moderate Democrats whotend to vote favorably on issues of interest to insurers. Three of the five are leaning Republican.Even if Republicans break the supermajority, the bigger questions for insurers concern therise of more progressive Democrats in committee leadership positions, which will influencewhich pieces of legislation have hearings andwhich die on the vine. Democratic Sen. DeloresKelley was promoted to chair of the Senate Fi-nance Committee after a Progressive candidatedefeated the longtime chairman, Sen. ThomasMiddleton, in the Democratic primary in June.Insurers lost another legislative supporter whenthe Finance Committee’s vice chair, Sen. JohnAstle, decided to retire, though insurers haveworked well with his successor, Sen. BrianFeldman.One industry source speculated that Kelleywould be less accepting of insurer argumentsthat their use of various rating factors – includingthose linked to credit – help produce more accurate prices that benefit many consumers. Legislation restricting rating factors comes up almostevery year, but recent proposals have not gainedenough traction to succeed or were amended incompromises negotiated by Redmer.Insurance lobbyists are also closely monitoring changes in the House Economic MattersCommittee, which handles insurance legislation,and the House Judiciary Committee, where anPlease see MARYLAND on Page 6MarylandProperty Insurance Profit Margins10-Year Summary, % of Direct Premiums Earned, With National Averages2016TotalLine of Business tAvgTotalProfitState 8Nat’l tate t’l 71.712.28.14.017.44.214.823.121.5State CommMPNat’l 37.023.9-5.313.411.438.332.139.2State AlliedLinesNat’l ote: Profit calculations are by Property Insurance Report using data from the National Association ofInsurance Commissioners. Calculations are estimates, some based on national averages.11.111.822.912.0Warning: Property Insurance Report is a confidential, copyrighted newsletter for subscribers only.No part of this publication may be reproduced by any form or means, including photocopying, scanning, fax or email, without prior permission of the Publisher. For information call (949) 443-0330.
Reprinted With Permission Of The PublisherPROPERTY INSURANCE REPORTPage 6MarylandMarketFocus: MARYLANDCommercial MultiperilStateNonliabilityInsurersGroups Ranked by 2017 Premiums Written (000)Continued from Page pprogressiveNamePremiumsRatiochairmanafter DelegateJosephVallario,Travelers CompaniesInc. 46,26111.3% who37.8%Erie Insurance11.1% 43.2%heldthe post for 25 years, lost 45,570in the DemocratHartfordFinancialServices 34,011 on 8.3% the37.1%icprimary.Withso many openingsbothHarford Mutual Insurance Companies 26,9216.6% 56.1%House Economic Matters and Senate FinanceNationwide Mutual Group 25,8156.3% 24.2%committees,it will take some 21,092time for 5.2insurersState Farm% 68.0%Tokio MarineChubb Ltd.CommercialLibertyMutual 18,947Maryland 16,0384.6%3.9%39.8%53.6%Multiperil NonliabilityInsurers 14,3863.5% 26.6%Groups Ranked by 2017 PremiumsWritten(000) 11,0732.7% 13.9%Cincinnati Financial Corp.Allstate Corp.Group Name2017 10,833PremiumsBrethren Mutual Insurance Co.Travelers Companies Inc.CNA Financial Corp.Erie InsuranceHanover Insurance Group Inc.Hartford Financial ServicesGNY Insurance CompaniesHarford Mutual Insurance CompaniesMillers Capital Insurance Co.Nationwide Mutual GroupBrotherhood Mutual Insurance Co.State FarmWestminster American Ins Co.Tokio MarineAllianz GroupChubb Ltd.Donegal Insurance GroupLiberty MutualAmerican International GroupCincinnati Financial Corp.Zurich Insurance GroupAllstate Corp.Church Mutual Insurance Co.Brethren Mutual Insurance Co.Selective Insurance Group Inc.CNA Financial Corp.W. R. Berkley Corp.Hanover Insurance Group Inc.Farmers Insurance GroupGNY Insurance CompaniesState Auto Insurance CompaniesMillers Capital Insurance Co.National General Holdings Corp.Brotherhood Mutual Insurance Co.American Financial Group Inc.Westminster American Ins Co.Munich ReAllianz GroupFrederick Mutual Insurance Co.Donegal Insurance GroupWestfield InsuranceAmerican International GroupMarkel Corp.Zurich Insurance GroupHousing Authority Insurance GroupChurch Mutual Insurance Co.GuideOne InsuranceSelective Insurance Group Inc.Utica National Insurance GroupW. R. Berkley Corp.Fairfax Financial HoldingsFarmers Insurance GroupMutual Benefit Insurance Co.State Auto Insurance CompaniesBerkshire Hathaway Inc.National General Holdings Corp.PennNationalInsuranceAmericanFinancialGroup Inc.AmericanMunich ReNational InsuranceAmTrustServices Co.FrederickFinancialMutual InsuranceMainStreetAmericaWestfieldInsurance 10,822 46,261 10,652 45,570 9,411 34,011 7,140 26,921 6,206 25,815 6,138 21,092 5,612 18,947 5,262 16,038 5,098 14,386 4,019 11,073 3,993 10,833 3,853 10,822 3,381 10,652 3,237 9,411 3,213 7,140 3,143 6,206 3,143 6,138 2,677 5,612 2,562 5,262 2,381 5,098 2,381 4,019 2,121 3,993 2,050 3,853 1,980 3,381 1,868 3,237 1,851 3,213 1,815 3,143 1,800 3,143 1,516 2,677 1,442 2,562 1,357 2,381 1,232 2,381Mkt2.7% Loss48.1%share 7.8%12.8%23.3%77.9%19.0%48.4%27.4%0.4% 56.8%32.9%0.6%0.3%7.3%0.6% 118.5%0.3%34.1%0.6% 141.9%MarkelCorp. 2,1210.5% 27.4% ceGroup 2,050% 39.1%Data Source: SNL Financial, by permission, and the0.5PropertyInsurance ReportDatabase.GuideOneInsurance 1,9800.5% 154.8%Loss ratio incurred losses/direct premium earned and does notUticaNationalInsuranceGroup 1,8680.5% 13.3%include dividends or loss adjustment expense.Fairfax Financial Holdings 1,8510.5% 20.4%October 29, 2018to fully understand the legislative landscape theywill face in the next legislative session, whichbegins Jan. 9.For example, three names come up as possible chairs of the Property and Casualty InsuranceSubcommittee of the House Economic MattersCommittee, including Delegate Eric Bromwell,a moderate Democrat fighting to maintain hisseat in a competitive race, and Delegates Benjamin Brooks and Kris Valderrama, who opposethe use of certain insurance rating factors.In addition to fighting efforts to restrictunderwriting and rating factors, insurers havecountered bills in the past that, for example,would make it easier to win punitive damagesand enable third-party claimants to sue insurersdirectly.Insurers have also won passage of legislationthat they supported, including a bill that regulatepublic adjusters. Another lowered the minimumpremium required for commercial accounts toqualify as large enough to be exempt from ratesfor review and allows brokers to negotiate comPlease see MARYLAND on Page 7Maryland 2015 InsuredHome Values (HO3 Policy Form)HomeValueMaryland 50K0.1% 50-75K0.1% 75-100K0.3% 100-125K1.6% 125-150K4.5% 150-175K7.9% 175-200K9.6% 200-300K 35.1% 300-400K 20.1% 400-500K9.6% 500K11.1%Total exposures .1%32.5%16.8%7.8%8.7%49,427,514Source: NAIC, Property Insurance ReportMutualBenefit PropertyInsurance Co.12.8%Warning:Insurance 1,815Report is0.4a%confidential,copyrighted newsletter for subscribers only.No partof thismay be reproducedBerkshireHathawayInc. publication 1,8000.4% 77.9%by any form or means, including photocopying, scanning, fax or email, without prior permission of the Publisher. For information call (949) 443-0330.Penn National Insurance 1,5160.4% 48.4%American National Insurance 1,4420.4%32.9%Main Street America 1,2320.3%34.1%AmTrust Financial Services 1,3570.3%7.3%
Reprinted With Permission Of The PublisherOctober 29, 2018PROPERTY INSURANCE REPORTPage 7MarylandState Market Focus: MARYLANDContinued from Page 6missions on large commercial accounts.Since returning for a second time to the position of insurance commissioner in 2015, Redmerhas worked to improve the regulatory machineryand has shielded insurers from the most vehement attempts to restrict the uses of socioeconomic factors in underwriting and rating. Whilerecognizing the concerns of insurers, Redmerdoesn’t always grant their wishes, taking intoconsideration what he hears from consumers andinsurance agents.For example, although insurers successfullyfended off legislation in 2016 that would haveprohibited them from using driving history in therating and underwriting of homeowners insurance, regulators do not allow it.“We have had heartburn over that, but we’vemade the decision at this point to not approvethem,” Redmer said.His tenure has been characterized by effortsto improve efficiency and communication andto simplify things where possible. When he returned as regulator in early 2015, some 2,000filings were pending, the oldest of which wentback three years. That is now below 300, most ofwhich were submitted within the last 90 days.“We are in now in the normal turnaroundtime for rate and form filings.”Redmer also promoted legislation that expanded and clarified the use of wind and hurricane deductibles and reduced the number of notices home insurers must send to policyholders.Homeowners insurance legislation that tookeffect Oct. 1, 2017, required the insurance commissioner to adopt a notice containing information explaining aspects of homeowner’s insurance policies, such as the flood exclusion, sewerbackup coverage, deductibles, discounts forstorm-protective devices, and the ability of insurers to cancel or nonrenew based on claims history and increased hazards. Insurers could then useFire Insurers2017noticePremiumsWritten (000)thatGroupssingleRankedform tobyfulfillrequirementsatMktindividLossrenewal instead of having to 2017send manyGroup NamePremiums share Ratioualnotices. The single notice 18,802not only13.1simplifiesAmerican International Group% 13.3%theflowCompaniesof informationand reducesTravelersInc. 15,703 confusion10.9% 44.9%forconsumers, it saves moneyfor insurers.FM Global 11,7438.2% 66.5%FarmersInsurance Group5.5%29.4%Legislationpassed in 2016 7,861that tookeffectZurich1,Insurance 7,0834.9%8.7%Jan.2017, Groupsimplified the issueof deductibles.Liberty Mutual 6,8654.8% 21.6%The law permits insurers to require percentAssurant Inc. 6,2354.3% 32.2%agedeductiblesor offeras an optionSelectiveInsurance GroupInc. them 6,2204.3% AA 5,8784.1% 70.9%NationwidehailMutualGroup% a29.7%storms,andhurricanes. If 4,735a policy3.3hasBerkshire HathawayInc. 3,5502.5% 43.9%mandatorypercentage-basedhurricanedeductXL Group Ltd 2,2351.6% 84.6%ible it can only apply at the start of the NationalChubb Ltd. 2,1811.5% -13.9%HurricaneCenter hurricane warningfor anyKlinefelter Insurance Group 2,0951.5% ti Financial Corp. 1,8661.3% state3.7%MunichRe1.3%7.3%theinsured’shome is located. 1,847After HurricanePenn National InsuranceAllstate Corp. 1,801 1,682MarylandAmerican National InsuranceCNA Financial Corp. 1,8241.3%35.9%Please see MARYLAND on Page 8 1,666Fire InsurersStateAuto InsuranceCompaniesGroupsRankedby 2017AXISSCORGroup NameAlleghanyCorp.American InternationalGroupAllianzGroupTravelersCompanies Inc.FairfaxFinancial HoldingsFM GlobalCumberlandInsuranceGroupFarmers InsuranceGroupPhiladelphiaContributionshipZurich Insurance nc.Assurant Inc.BrethrenInsuranceSelective MutualInsuranceGroup Co.Inc.SompoHoldingsInc.USA
damage and protect communities. While Florida is known for its very strong building codes, those along the Panhandle are far less stringent. According to a structural engi-neer quoted in the Miami Herald, most new structures in Miami-Dade County must be designed to with-stand winds of about 175 mph, while the standard in the part of the
