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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 12:37:00 PM | NC Lawsuits Accuse Calif. Insurance Provider of Fraud =(0) The Attorney General of North Carolina is suing two financial services companies that operate in that state for deceptive practices. Roy Cooper alleges that American Family Prepaid Legal Corp. and Heritage Marketing and Insurance Services Inc. preyed on senior citizens, aggressively selling them financial products that were not suited to their need...
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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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5/22/2006 3:39:00 AM | Some annuities may benefit salesmen more than retirees =(0) This article gives some examples of how unscrupulous high-pressure salespeople influence clients, particularly the elderly, to buy financial products that are ill-suited to their needs. The motivation is commission, which is especially lucrative for annuities; however for the elderly, annuities are often not a good investment because of their ...
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5/19/2006 8:13:00 PM | Hurricane Evacuees Sue FEMA Over Housing =(0) A group of Hurricane Katrina and Rita victims has filed a class action suit against FEMA for allegedly not living up to its promise of continuing to provide housing aid. FEMA announced that 17,000 families will no longer receive rental help after May 31, 2006 and that stricter qualification standards will be applied for those in emergency hous...
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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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5/17/2006 8:29:00 AM | SEC Files Fraud Charges against Bilking Broker - =(0) A broker associated with Linsco/Private Ledger Corp. (LPL) in Georgia has been charged with fraud by the SEC and terminated from that company. Dennis A. Martin allegedly forged document signatures and misrepresented investments to clients as an independent contractor to LPL and on behalf of a fictitious company, "First Financial Group". ...
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5/10/2006 3:44:00 PM | The Hartford Apologizes, Pays $20 Million for Fraud in Annuity ... =(0) The Hartford Financial Services Group has settled with the Attornies General of New York and Connecticut over charges of fraud. It has issued an apology and will pay $20 million in fines and restitution. The Hartford acknowledges that it paid brokers for recommending their products, which were not competitively priced, and that these payments ...
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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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4/4/2006 5:59:00 PM | Additional Wingler Insurance Scam Victim =(0) South Dakota insurance agent Ryan Wingler is in prison for scamming elderly residents by selling them non-existent insurance policies, yet victims are still coming forward. The insurer that employed Wingler, Allianz, is responsible for returning funds to victims under South Dakota law. The lesson here is, don't accept excuses for delays in processi...
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4/4/2006 7:16:00 AM | State may offer tax relief for damage from recent storms =(0) The State of Hawaii is considering providing a tax credit of up to $10,000 for victims of storm damage statewide. This would involve extending current pending legislation to cover all storm damage, not just specific storms that are specified....
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3/31/2006 5:26:00 AM | Crazed knife-wielding man's widow fights insurance firm =(0) A widow is suing an insurance company in Canada for refusing payment on her husband's policy. What happened was, the woman served him with divorce papers which resulted in his becoming violent and stabbing her and her mother with a large knife. The women fled and called police, who eventually shot and killed the man when he made threatening gesture...
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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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3/27/2006 9:32:00 PM | State Farm & Allstate Insurance Mississippi Lawsuit Update =(0) In another Hurricane Katrina-related lawsuit in Mississippi, State Attorney General Jim Hood sued insurance companies over their denial of claims for storm surge. At issue is whether wind or water caused the damage and whether companies are liable for wind damage if flooding occurred. This suit is being lobbed back and forth from federal to state ...
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3/27/2006 7:54:00 AM | Federal Judge Rejects Allstate Request to Dismiss Hurricane =(0) A lawsuit against Allstate will continue in Mississippi, according to a judge's ruling. Allstate had wanted the case dismissed. At issue is whether the home, destroyed by Hurricane Katrina, was damaged by wind or floodwaters. The homeowners did not have flood insurance because they were told by their realtor when purchasing the home that it wasn't ...
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