Hurricane Irene adds to long list of 2011 weather disasters p. 3

Wed Aug 31st, 2011 on     Homeowners Insurance,    

We are continuing our discussion of weather disasters in the U.S. As we have said in past posts, Florida’s homeowners insurance market is sensitive not only to disasters in this state but also to national and international disasters. Though the state escaped Hurricane Irene last week, it will take some time to know if the estimated $2.6 billion in damage will affect local premiums.

Regulators impatient with bad claims-handling practices, p. 2

Wed Aug 24th, 2011 on     Insurance Claims,    

We are wrapping up our discussion of regulatory compliance in the property and casualty insurance industry. Every state has an agency that monitors insurance companies’ financial and service records. When the results are a little out of whack, the departments — in Florida, it’s the Office of Insurance Regulation — conduct a full examination of the company’s operations.

Senate bill takes aim at natural disaster risk management

Thu Aug 18th, 2011 on     Insurance Claims,    

The National Flood Insurance Program (NFIP) is set to expire at the end of September. In light of recent budget debates, the fate of the program is uncertain, adding another insurance worry to Floridians’ plates. It was hard for residents here to watch the news coverage of the windstorm that took down stage rigging at a state fair — not from a lack of empathy, but from that sense memory of living through hours of 60- to 70-mile-an-hour winds and flooding that come with a hurricane.

Florida insurance chief disappointed lawsuit was dismissed

Sat Aug 6th, 2011 on     Insurance Claims,    

A federal judge ended the dispute between an insurance company and Florida’s insurance commissioner this week — for the moment. The judge dismissed the claim without prejudice, which means the insurance company can file again in the future. The case wasn’t about improper claim procedures or undue delay in paying claims. It was about an alleged personal vendetta.

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