Industry & Insurance News

Atlantic hurricane season weakest so far since ’83

October 9, 2014  By: Danica Coto, The Associated Press This year’s Atlantic hurricane season is shaping up to be one of the weakest in decades with only five named storms in the region so far this year. That is the fewest named storms since the full Atlantic season of 1983, when there were four. The […]

Calling a Letter a “Reservation of Rights” Does Not Necessarily Make It So Re: Insurance Claims

September 22, 2014  By: Nathan R Lander via National Law Review Many insurers are in the habit of sending perfunctory “reservation of rights” letters to their insureds throughout the lifetime of a claim.  The reason they do so is not a very well-guarded secret in the insurance industry.  An insurer that acknowledges coverage must pay […]

Lloyd’s of London Sued After Alleged Breach of Contract, Bad Faith Claims

September 23, 2014  By: Chelsea Partington NEW ORLEANS – A man is suing his insurance company for allegedly undervaluing damage to several of his properties following Hurricane Isaac. Wilfred J. Gravois Jr. filed suit against Underwriters at Lloyd’s, London in the Orleans Parish Civil District Court on July 15. Gravois alleges that he holds an […]

Louisiana Citizens Property Insurance Company Sued for More Than $1.6 million in Damages

September 15, 2014  By: Max Schramel NEW ORLEANS – An insurer is being sued for allegedly providing an inadequate estimate for property damage that occurred at a New Orleans commercial property during Hurricane Isaac. Hiker LLC filed suit against Louisiana Citizens Property Insurance Company in Orleans Parish Civil District Court. Hiker states on Aug. 29, […]

City Insurance Company Rejects Claims from Storm, Sewer Backup

September 4, 2014 By: Nathan Brown The city of Twin Falls’ insurance company has said it won’t pay the people seeking reimbursement for the damage created when city sewers backed up into their homes during Aug. 6’s heavy rains. The Idaho Counties Risk Management Program sent identical letters a couple of weeks ago to the […]

Insureds Rarely Have Home Inventories Despite Benefits

August 18, 2014  By: Denise Johnson Despite big storms and wildfires highlighting the need, home inventories are rare, say insurance industry experts. A recent Allstate Insurance survey of Atlanta homeowners found that while than more than 90 percent of homeowners are concerned about protecting their homes, only 41 percent had ever documented or valued their […]

Sinkhole Swallows Car in Pennsylvania

8/14/2014  By: WTAE Natalie Huddleston was leaving Hollywood Tans on McKnight Road when she heard a “thunk.” Minutes later, her car was devoured by a large sinkhole. 

Insurance Company Sues Client

July 10, 2014 By: MOORE, Okla. – Since the May 20th tornado 2NEWS reported several homeowners suing their insurance companies for not settling fairly with them after the storm. One insurance company has decided to sue their client. Paul Hernandez said Liberty Mutual offered him settlement to repair his home after the tornado. Liberty […]

NC Commissioner: Some HO Ins Rates ‘Very much a problem’

July 21, 2014  By: Monica Lalibertre Watch video report here. RALEIGH, N.C. — Most people think they already pay too much for homeowner’s insurance, but what if the bill suddenly jumped 33 percent or even 70 percent? Many people are getting letters saying if they don’t agree to it, their coverage will be canceled. The letters […]

Couple spends months arguing fire insurance claim

7/30/2014 By: Barry Simms via A Baltimore County couple whose home was ravaged by fire in January has been fighting with their insurance company, which they believe is trying to avoid paying the claim. From the outside, many might not have any idea what happened inside the Waddell’s Middle River home, but it was […]

Homeowners with Multiple Hail Claims, Lose Insurance

7/15/2014  By: Tom Lutey After the May 18 hailstorm pummeled her Billings Heights property, Carol Metzler got word her insurance company was dumping her. State Farm, which has insured Metzler’s property for 30 years, was declining to issue her a new policy. Too many claims, her agent said. Metzler was ticked off. Her neighborhood had […]

Bad Faith Litigation: Berg v. Nationwide

7/15/2014  By: Andrew Kennedy, Attorney at the Colkitt Law Firm and UP Volunteer For anyone representing policyholders in bad faith cases against insurance companies, the June 2014 case Berg v. Nationwide Mutual Insurance Company is remarkable. Here are my initial takeaways: 1. The $21 million award is historic. According to The Legal Intelligencer, which first reported the case […]

Seven Earthquakes Shake Oklahoma in Two Days

7/13/2014  By: Ashley Fantz, CNN On Saturday and Sunday in Oklahoma, there were seven earthquakes. You read that right. Not tornadoes. Earthquakes. The most severe temblor registered 4.3 near Langston, the U.S. Geological Survey site showed, delivering a rumble to Logan County, north of Oklahoma City, according to the U.S. Geological Survey. There were no […]

Non-Covered Claims May Exhaust Primary Limits, Trigger Umbrella

7/10/2014  By: Burke Coleman A recent ruling from the Fifth Circuit Court of Appeals in Louisiana clarified that an umbrella policy may be triggered even when the underlying insurance is exhausted by claims that would not be covered by the umbrella policy itself. The case bears importantly on the relationship between excess and primary policies, […]

State Farm Hurricane Deductible Jumps to 5%

7/10/2014  By: Ted Griggs, The Advocate One month into the hurricane season, State Farm’s 308,000 Louisiana homeowner’s customers are confronting an unpleasant change: their policies now include a mandatory 5 percent hurricane deductible. The hurricane deductible was included on new policies in November and added to existing customers as they’ve renewed their policies on or […]

Report: $100M in Losses from Southern California Quake

7/9/2014  By: Don Jergler The moderate earthquake that struck Southern California in spring did more damage than people may think – and a bigger quake on that fault could be more devastating that a “big one” on the region’s infamous San Andreas Fault, a newly released report shows. Karen Clark & Co. issued a new […]

Insurance Companies Flooded with Arthur Damage Claims

7/7/2014  By: CBS News Insurance companies in New Brunswick are busy dealing with claims from damage caused by post-tropical storm Arthur. Wilson Insurance in Fredericton says it has received more than 100 applications, compared to the estimated four it would get on a normal day. Agents say people should be patient — and know what their policy covers. Most […]

It’s Worth Boning Up On Homeowner Insurance

6/30/2014  By: Jeff Gelles, Inquirer Mention the word insurance, even to people who pay attention to other consumer topics, and you’re likely to draw yawns. Trust me on that – it’s just the nature of the beast. After more than a dozen years of writing about everything from airfares to computer zombies, I’ve learned what stirs […]

TN Ranks High For Lightning Damage Costs, GA #1

6/25/2014 By: Chris Cannon | Nashville News, Weather A survey by a national insurance company ranked Tennessee in the top ten states for the number of claims for damaged caused by lightning. State Farm Insurance said Tennessee was number six on its list with 1,050 claims, totaling $5,649,955 in damage. Georgia led the nation […]

Jury Orders Travelers to Pay $1.5 Million In “Arson” Case

6/24/2014 By: Matthew Kauffman, The Hartford Courant A Hartford jury Monday awarded $1.5 million to a Pomfret man who sued Travelers after the insurer alleged that he set fire to his own house. A Hartford jury Monday awarded $1.5 million to a Pomfret man who sued Travelers after the insurer alleged that he set fire […]

Minnesota state of emergency wears on for extra 30 days

6/24/2014  By: Rachel E. Stassen-Berger and Paul Walsh of the Star Tribune As the state’s largest rivers, including the Mississippi, St. Croix and Minnesota, continued to build Monday, Minnesota extended a state of emergency declaration for 35 waterlogged counties. “We still have a building emergency,” Gov. Mark Dayton said. “A lot more is going to need to […]

Allstate Estimates $440M Catastrophe Losses for May

Allstate Corp. estimated that it had $440 million in pre-tax catastrophe losses for the month of May 2014 —or $286 million after taxes. The Northbrook, Ill.-based company said 11 events contributed to May losses, at an estimated cost of $400 million. The rest of the pre-tax losses were attributable to unfavorable reserve re-estimates of prior reported […]

Storm victims struggle with insurance claims

6/18/2014 By: Andrew Ozaki BEAVER CROSSING, Neb. —Storm victims in Seward County are still struggling from a tornado weeks ago on Mother’s Day. Cleaning up the damage isn’t the main problem anymore but paying for it is. It’s the storm after the storm. Many residents in Beaver Crossing face a new frustration. “Now everyone is […]

Minn. Homeowners Combat Insurance Companies over Storm Damage Claims

6/18/2014 By: Stephen Tellier When bad weather hits, insurance may save the day. But some homeowners are finding out the hard way that they weren’t covered like they hoped. And soon, the Minnesota Supreme Court could weigh in on exactly how much money you’re entitled to when your home gets hit with hail or high […]

Coverage Question: Is roof damage covered when a cow walks all over it?

6/17/2014 By: Edward Roberts The steaks were high for this cow after she became stuck on a farmhouse ROOF. Not content with life on the ground, the animal headed onwards and upwards – and ended up perched atop this building in Bern, Switzerland. Looking like she might be about to graze on the slates, she balances on the slippery […]

Euclid woman fights for bigger homeowners insurance check and wins

6/13/2014  By: Joe Pagonakis EUCLID, Ohio – June Miller’s Euclid home was burglarized five months ago, but she explained an ongoing battle with her insurance company has been an even bigger burden. Miller told NewsChannel5 she filed a $5,400 claim, after crooks stole the majority of her home’s plumbing system. However, after months a wrangling […]

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