American Agents Alliance

JULY 17, 2024

Agents and brokers play important roles in the digital claims management process, from educating policyholders on loss mitigation to helping insureds file claims and work with their insurers. Data shows about 6% of homeowners filed a claim under their homeowners insurance policies during the five years ranging from 2018 to 2022.

Broker-Agent 52

Broker-Agent Broker Agents Claim 52

Bankers Insurance

MAY 16, 2024

The homeowners insurance market is complicated and dynamic, and many policyholders have experienced increased rates in recent years despite no changes to their coverage or claims filed. Finally, toward the end of 2023, reinsurance rates rose by as much as 40% as companies sought to recoup increased losses from recent years.

Home Insurance 52

Home Insurance Policyholder Out-Of-Pocket Property Damage 52

The Property Insurance Law Observer

MARCH 4, 2024

26, 2024), the Western District of Washington considered competing motions for partial summary judgment in a property damage case involving a winter storm, where large amounts of rain and melted snow backed the drain up and the force of the water pushed through the exterior door causing damage to the entire basement level.

Damage 130

Damage Policy Claim Property Damage 130

Shield Insurance Agency

AUGUST 20, 2024

Small Insurance Claims Can Raise Premiums Small insurance claims, such as those for minor property damage, may seem like a hassle to deal with. Many policyholders may be tempted to file a claim for every little incident in the belief that their insurance policy will cover all damages.

Insurance Claim 52

Insurance Claim Claim Protection Out-Of-Pocket 52

Property Insurance Centre

MARCH 19, 2024

By understanding key terms, policy details, and the rights and responsibilities of policyholders, consumers can engage with insurers more effectively, ensuring better communication and ultimately achieving their desired outcomes. Understanding your rights can help you navigate any disputes that may arise during the claims process.

Property Insurance 52

Property Insurance Policyholder Insurance Insurer 52

The Property Insurance Law Observer

MARCH 12, 2024

The United States District Court for the Western District of Washington decided an insurance coverage case involving Plaintiffs Benny and Guangying Cheung and Defendant Allstate Vehicle and Property Insurance Company. Plaintiffs argued that the damage was covered under the policy, primarily resulting from theft.

Theft 130

Theft Insurance Policy Policy Personal Property 130

Property Insurance Centre

SEPTEMBER 25, 2024

See what is not covered in terms of events/damage for your policy and think about getting flood insurance or accidental damage insurance if desired. Accidental damage is not usually covered by a normal building insurance policy. – Provided that add-ons are part of the lease. What is Covered?

Building 52

Building Damage Insurance Insurer 52

Scott Insurance

JANUARY 31, 2024

has seen an increase in their homeowners insurance premium. According to Money.com , an independent publisher, recent year-over-year premium increases have averaged 20%, and policyholders should expect to see at least a 10-15% increase in 2024. However, homeowners insurance generally operates on a lagged timeline regarding inflation.

Premium 52

Premium Deductible Insurance Carrier Insurance 52

Property Insurance Centre

JANUARY 4, 2024

Weather Conditions and Natural Disasters Since 1980, there have been 360 weather- and climate-related natural catastrophes , resulting in damages and costs of over $2.57 Unpredictable weather events and the rise in natural catastrophes pose significant challenges for the property insurance industry. Hurricane Harvey 2017 92.0

Property Insurance 52

Property Insurance Commercial Property Liability Premium 52

Cover4LetProperty

OCTOBER 10, 2022

The principal costs of running your buy to let business are likely to include the mortgage repayments (typically, in the case of buy to let mortgages, these are likely to be interest-only mortgages), the cost of repairs and maintenance, any letting agent’s fees, and landlords’ insurance. What do I do with the deposit I ask my tenants for?

Insurance 52

Insurance Insurer Insured Property Insurance 52

Healthinsurance.org

MAY 20, 2024

In this article HealthCare.gov policyholders at risk Scammers circumvent consumers protections The damage to affected Marketplace buyers Factors that led to the alleged fraudulent activity Buyers with lower incomes targeted Is this happening in states that run their own Marketplaces? What should consumers do?

Broker-Agent 52

Broker-Agent Broker Out-Of-Pocket Premium 52

Majesco

APRIL 11, 2024

We have companies with really significant loss ratios that won’t improve in 2024, possibly not even in 2025. There is inflation and its pressure on claims costs, whether it’s medical or it is physical damage to homes and businesses. We are starting to see it on homeowners insurance. This applies to auto as well.

Commercial Property 40

Commercial Property Risk Claim Deductible 40

Risk Management Monitor

SEPTEMBER 30, 2022

.” Millions of Floridians do not have power, and officials on the ground report “historic” amounts of storm damage. Ian follows right on the heels of catastrophic damage from Hurricane Fiona. In the meantime, take photos of the damage and do whatever you can to mitigate further damage.

Damage 75

Damage Claim Broker-Agent Risk 75