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Hurricane Insurance
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7/5/2006 10:37:00 AM | Investigating insurers 
=(0) Three insurance companies in Louisiana are to have a market behavior audit from the Louisiana Department of Insurance. The companies, Allstate, St. Paul Travelers, and Louisiana Citizens Property Insurance Corp., were the subjects of many customer complaints following last year's hurricanes. The Department allowed for that increase but is chec...
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6/30/2006 1:50:00 AM | Citizens ordered to disclose settlements =(0) Citizens Property Insurance in Florida has been ordered to disclose the terms of settlements it has been making with litigants outside of a class action suit that is ongoing. The company is fighting portions of claims relating to the hurricanes of 2004, but has begun quietly settling with individual policyholders. A judge has ruled that t...
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6/3/2006 2:30:00 AM | Allstate cuts quake coverage =(0) Allstate Insurance will discontinue earthquake insurance for over 400,000 policies in the US, and no longer offers new optional earthquake coverage for property insurance. The company has made similar decisions about hurricane policies in Florida and New York. It is part of Allstate's policy of reducing the company's exposure to high-risk disa...
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6/1/2006 12:08:00 PM | Class Action Suit Filed in New Orleans Against 15 Homeowners ... =(0) Many homeowners' Hurricane Katrina insurance suits in the greater New Orleans area have been consolidated into a class-action lawsuit against fifteen companies. Issues of complaint include the wind-water-flood decisions, arbitrary rulings on waterlines and other evidence, and failure to advise policyholders of risks and the availability of flo...
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6/1/2006 7:04:00 AM | Bill raises stakes in insurance delays =(0) A new law, now working its way through the Louisiana legislature, would increase penalties to insurance companies who do not pay claims on time. Companies are supposed to pay within 30 days once the claim is legally established. The penalty for late payment now is 25% of damages owed but the new law raises it to 50% and includes the possibilit...
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5/27/2006 1:07:00 AM | Windstorm insurance rates set to increase =(0) The Texas Windstorm Association (Windpool) will be allowed to raise its rates 3.1% for home policies and 8% for businesses according to a decision by Texas Insurance Commissioner Mike Geeslin. The increase is substantially less than the association had requested. The Windstorm Association expects as much as a 60% increase in participants ...
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5/26/2006 4:25:00 AM | 243 policyholders sue Nationwide =(0) A group of 243 policyholders are suing Nationwide Insurance in a lawsuit similar to those against State Farm and Allstate. Portions, or all, of their damage claims from Hurricane Katrina were denied on the basis of "storm surge" damage which is considered flooding, as opposed to "wind" damage, which was covered. The plaintiffs claim that it was the...
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5/25/2006 10:54:00 AM | Judge rules against State Farm in suit over flood exclusions =(0) State Farm has lost a round in a lawsuit over hurricane damage in Mississippi. A judge ruled that the wording in State Farm's policy was "ambiguous" and "unenforceable" because it contained some contradictions - for example, coverage due to wind damage would be denied if the wind acted together with an excluded event such as tidal surge. ...
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5/25/2006 5:20:00 AM | Official hopes Katrina made need for flood coverage clear =(0) An official from the Insurance Information Institute strongly urges homeowners to consider purchasing flood insurance. In the US, homeowner's insurance purchased through insurance companies does not cover floods; you can get flood coverage through FEMA's National Flood Insurance Program (NFIP) for your home (whether owned or rented) and business.&n...
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5/24/2006 7:17:00 PM | Changes in wind insurance affecting TX Gulf Coast =(0) Allstate has joined other insurance companies in discontinuing wind damage coverage for properties along the Texas Gulf Coast. Homeowners will have to find another company, or, as a last resort, enter the Texas Wind Pool, a state-run insurance plan. Wind Pool coverage might involve headaches of its own, as certain repairs or improvements...
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5/24/2006 12:19:00 PM | Arbitrator Certifies Class Action Against Ryland Homes in Florida =(0) A California-based homebuilder is the defendant in a class action lawsuit concerning thousands of homes built in Florida since 2000. The houses, built by Ryland Homes, become wet inside during rainstorms with no apparent source of leakage, and the problem became much worse during the many hurricanes that hit Florida in the last two years. ...
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5/24/2006 6:35:00 AM | Insurance public hearing set =(0) The State of Mississippi will hold public hearings in June concerning proposed rate increases by the Mississippi Windstorm Underwriting Association, also known as the "Windpool", which insures thousands of homes and businesses in the highest risk coastal areas of the state. The State Insurance Commissioner must decide whether to approve rate i...
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5/18/2006 12:21:00 PM | McGraw files suit against Hurricane roofer =(0) The Attorney General of West Virginia is suing Mountaineer Roofing and Siding, a hurricane roofing company, for failure to complete work, a violation of the West Virginia Consumer Credit and Protection Act. There have been 21 consumer complaints against the company since 2001. The State has also requested a list of the company's customers and...
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5/17/2006 12:38:00 PM | Consumer Complaints Lead to Probe of Hurricane Claims of La. ... =(0) In Louisiana, the Department of Insurance has ordered market conduct examinations of insurance companies Allstate and St. Paul/Travelers. Due to a large volume of customer complaints, the Department will probe the manner in which these companies handled claims resulting from Hurricanes Katrina and Rita. The Department then intends to revi...
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5/17/2006 9:47:00 AM | Clock is ticking on storm claims =(0) Many homeowner and business insurance policies in Louisiana have a one year limit on claims, so those affected by Hurricane Katrina are urged to check their policies and consult with their insurers to make sure this deadline is not missed. The State government is considering legislation to extend the claim period, and individuals can negotiate...
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5/9/2006 8:15:00 PM | Insurers to refund policyholders more than $2M =(0) Two insurance companies have agreed to refund over $2 million to clients in Florida after a state investigation. Complaints about claim denial and coverage cancellation sparked a probe which uncovered these violations on the part of the American Mercury Insurance Co. and Mercury Insurance Co. of Florida. The companies are cooperating with...
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4/26/2006 6:12:00 AM | Insurers canceling coastal policies =(0) Many insurance companies are canceling or refusing to sell policies to homeowners all along the Atlantic and Gulf Coasts of the United States. In Florida, more than a half million homeowners policies are in jeopardy, while in Mississippi, premiums are expected to rise by 400%. A combination of recent and forecast hurricane activity and in...
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3/28/2006 2:32:00 PM | Florida Lists How to Obtain Wind Insurance Incentives =(0) The State of Florida is offering wind insurance incentives; that is, if homeowners take certain measures to strengthen their homes, they may qualify for discounts on their insurance policies. This article outlines ways in which to do this and references the Florida Department of Financial Services Website: http://www.fldfs.com/......
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3/28/2006 1:19:00 PM | Insurance Checklist for Hurricane Coverage =(0) A new law in Florida forces insurance agents to go through a checklist with their customers in order to ensure they have adequate coverage. Another new law limits deductible charges to one hurricane per season. A copy of the checklist is available for download: http://www.floir.com/pcfr/Documents/OIR-B1-1670.xls......
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3/28/2006 4:15:00 AM | Dale wants answer on wind claims =(0) The struggle continues over vague wording in insurance policies as insurers attempt to deny claims from Hurricane Katrina victims. A US District Judge ruled that Allstate cannot hide behind ambiguous clauses, and the Mississippi State Insurance Commissioner has written to State Farm, demanding explanations of their decisions. The insurance companie...
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