Property Insurance Coverage Law

OCTOBER 23, 2024

While Jimmy Patronis and Governor DeSantis trumpet their latest emergency rule as consumer protection following the CBS 60 Minutes Expose noted in CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management, the reality reveals a different story.

Policyholder 214

Policyholder Insurance Companies Insurance Industry Protection 214

Property Insurance Coverage Law

DECEMBER 12, 2024

MAPFRE Insurance Company has filed a fascinating complaint 1 against an allegedly unlicensed public adjuster license and company … The post Can Insurance Companies Sue Public Adjusters for Not Being Licensed or Not Having a Valid Contract? appeared first on Property Insurance Coverage Law Blog.

License 202

License Insurance Companies Policyholder Property Insurance 202

Insurance Journal

AUGUST 8, 2024

California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies to preserve residential insurance coverage for more than 185,000 policyholders affected by the Park, Borel and Gold Complex fires. The moratorium shields those living within the perimeters or …

Policyholder 299

Policyholder Insurer Insured Insurance 299

Insurance Journal

AUGUST 5, 2024

For decades, Georgia’s insurance industry has sought to eliminate the long-standing provision allowing trucking-accident plaintiffs to sue insurance companies directly. This was the single most important issue the industry wanted to see addressed by lawmakers. Now, with the passage of …

Insurance Companies 289

Insurance Companies Insurance Industry Insurer Insured 289

Insurance Journal

FEBRUARY 13, 2025

Insurance companies have so far paid out more than $6.9 billion for losses from the biggest two of the Los Angeles-area wildfires that swept through the region and destroyed tens of thousands of homes last month. That’s according to the …

Insurance Companies 275

Insurance Companies Insurer Insured Insurance 275

Insurance Journal

DECEMBER 4, 2024

the Jacksonville, Florida-based specialty insurer and subsidiary of Tiptree Inc., announced it has received regulatory approval to launch a UK subsidiary, called Fortegra Insurance Company UK. The Fortegra Group Inc., The Prudential Regulation Authority (PRA) granted Fortegra UK the license, …

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License Insurance Companies Insurer Insured 254

Insurance Journal

JULY 31, 2024

AM Best revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Stonetrust Commercial Insurance Company and Stonetrust Premier Casualty Insurance Company. Stonetrust is …

Workers Comp 278

Workers Comp Casualty Insurance Commercial Insurance Commercial 278

Property Insurance Coverage Law

NOVEMBER 20, 2024

For example, the Coalition Against … The post When Do Insurance Company Lobbyists and Trade Association Supporters Lie About Insurance Fraud Statistics? Every Time They Say or Write Anything appeared first on Property Insurance Coverage Law Blog. billion figure that concludes it is pure misinformation.

Insurance Companies 194

Insurance Companies Property Insurance Insurer Insured 194

Insurance Journal

JULY 23, 2024

Insurance software firm Applied Systems reports that it has acquired Planck, a leading artificial intelligence (AI) company for the insurance industry. Planck provides an AI-based data platform for commercial insurance. It works with US insurance companies, helping them streamline the …

Commercial Insurance 273

Commercial Insurance Commercial Insurer Insurance Industry 273

Insurance Journal

OCTOBER 24, 2024

As the third-fastest growing company on a list of the world’s top 50 largest insurance companies, State Farm Mutual Automobile Insurance Co. continued to rank No. 1, according to research S&P Global Market Intelligence. State Farm recorded nearly $87.6 billion …

Insurer 285

Insurer Insured Insurance Insurance Companies 285

Insurance Journal

SEPTEMBER 4, 2024

AM Best has downgraded the Financial Strength Rating to A-(Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings to “a-” (Excellent) from “a” (Excellent) of IMT Insurance Company and its affiliate, Wadena Insurance Company. These companies are domiciled in …

Insurance Companies 264

Insurance Companies Insurer Insured Insurance 264

Insurance Journal

NOVEMBER 3, 2024

The insurance industry has historically been slow to adopt new technologies o often relying on traditional outreach, marketing and client management methods. However, digital transformation has taken hold across the sector in recent years, radically reshaping how insurance companies engage …

Insurance Industry 306

Insurance Industry Insurance Companies Insurer Insured 306

Insurance Journal

SEPTEMBER 19, 2024

California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for 750,000 policyholders affected by the Airport, Bridge, and Line fires in the counties of Orange, Riverside, Los Angeles, and San Bernardino.

Policyholder 278

Policyholder Insurer Insurance Companies Insured 278

Property Insurance Coverage Law

SEPTEMBER 26, 2024

A recent federal court ruling in Missouri highlights the critical importance of admissible expert testimony in property insurance disputes.

Policyholder 192

Policyholder Insurance Companies Damage Claim 192

Insurance Journal

JULY 26, 2024

In today’s rapidly evolving digital landscape, customer experience is paramount across all industries, including insurance. While traditionally viewed as a transactional service, insurance companies increasingly recognize the significance of fostering … This post is part of a series sponsored by Dyad.

Insurance Industry 279

Insurance Industry Insurance Companies Insurer Insured 279

Insurance Journal

NOVEMBER 26, 2024

An Ohio man was sentenced to five years in prison and ordered to pay restitution for filing 24 fraudulent claims with multiple insurance companies, totaling more than $229,000, the Ohio Department of Insurance announced. Justin Mack, a native of Buffalo, …

Insurer 264

Insurer Insured Insurance Insurance Companies 264

Property Insurance Coverage Law

JANUARY 21, 2025

The Florida House Insurance and Banking Subcommittee was obviously upset with rising insurance rates and poor claims handling, as noted inParticipate In Your DemocracyEven If You Are Called a Bazooka. I was always told that an honest person has nothing to hide.

Insurance Companies 193

Insurance Companies Claim Property Insurance Insurer 193

Insurance Journal

NOVEMBER 18, 2024

The California Department of Insurance has submitted its final wildfire catastrophe modeling regulation to the Office of Administrative Law for approval. Th regulation is intended to strengthen the state’s insurance law, Proposition 103, by establishing coverage commitments from insurance companies …

Insurer 264

Insurer Insured Insurance Insurance Companies 264

Insurance Journal

OCTOBER 9, 2024

Hurricane Milton could result in a $60 billion loss for the global insurance industry, creating a surge in 2025 reinsurance prices which could boost some insurance companies’ shares, analysts at RBC Capital said. The Category 5 hurricane is due to …

Insurance Industry 299

Insurance Industry Insurance Companies Insurer Insured 299

Insurance Journal

OCTOBER 2, 2024

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Farmers Insurance Company of Flemington. AM Best said the negative outlooks …

Insurance Companies 264

Insurance Companies Insurer Insured Insurance 264

Insurance Journal

SEPTEMBER 26, 2024

Safeco Insurance, a Boston-based Liberty Mutual Insurance company, said it has entered into a book transfer agreement with Columbia Insurance Group, a Central and Midwest regional carrier. Under the agreement, mutual insurer Columbia will transfer its entire personal auto and …

Insurer 264

Insurer Insured Insurance Insurance Companies 264

Insurance Journal

DECEMBER 9, 2024

A North Carolina elementary school principal and a Cape Hatteras man were arrested last week and charged with insurance fraud after authorities said they attempted to make false claims to their insurance companies. Robert Grayson Dail, 35, of Gibsonville, principal …

Insurer 263

Insurer Insured Insurance Insurance Companies 263

Insurance Journal

JULY 22, 2024

The Pennsylvania Insurance Department (PID) reported that it has saved consumers $98.3 million in annual auto, home and other property/casualty insurance premiums in the first six months of 2024 through its review of insurance company rate filings. The vast majority …

Casualty Insurance 276

Casualty Insurance Premium Insurance Companies Insurer 276

Insurance Journal

AUGUST 12, 2024

As students across Kansas prepare to return to the classroom, Kansas Insurance Commissioner Vicki Schmidt reminds students and parents to add insurance to their back-to-school checklist. “Many insurance companies offer products and discounts geared toward students and their particular needs,” …

Insurer 264

Insurer Insured Insurance Companies Insurance 264

Insurance Journal

AUGUST 12, 2024

Former insurance executive Greg Lindberg, now awaiting sentencing in a North Carolina bribery conviction, and his companies must pay almost $167 million to an insolvent life insurance company in the Netherlands, a federal judge decided last week. “There is nothing …

Life Insurance 275

Life Insurance Insurance Companies Insurer Insured 275

Insurance Journal

SEPTEMBER 10, 2024

Finland’s Sampo Oyj succeeded in pushing through an offer for Topdanmark A/S in its second attempt to gain control of the Danish insurer. The Finnish insurance company raised its holding in Topdanmark to about 92.6% of shares, based on a …

Insurer 260

Insurer Insured Insurance Insurance Companies 260

Insurance Journal

OCTOBER 31, 2024

A Dallas pharmacy owner who routinely billed insurance companies for headache sprays, pain creams, and scar creams never dispersed to patients was sentenced last week to 10 years in federal prison, announced U.S. Attorney for the Northern District of Texas …

Insurance Companies 264

Insurance Companies Insurer Insured Insurance 264

Insurance Journal

NOVEMBER 27, 2024

At one of the early meetings of American Legal Connections, Rich Henderson, a senior vice president for reinsurer TransRe, bumped into a concerned client from a hospital insurance company who brought his team members to the event. The insurer was …

Insurance Industry 272

Insurance Industry Insurance Companies Insurer Insured 272

Insurance Journal

DECEMBER 10, 2024

Top insurance companies suffered $10.6 billion of direct premiums they underwrote for commercial fossil-fuel clients in 2023, according to Insure Our Future. Of the 28 insurers reviewed, more than … billion of climate-attributed losses this year, just shy of the $11.3

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Premium Commercial Insurer Insured 246

Insurance Journal

AUGUST 15, 2024

A Maui judge’s ruling resolves a critical roadblock to finalizing a $4 billion wildfire settlement: Insurance companies who have paid out more than $2 billion in claims can seek reimbursement only from the settlement amount defendants, who victims blame for …

Insurance Companies 276

Insurance Companies Insurer Claim Insured 276

Insurance Journal

JULY 29, 2024

Three months after Tyco Fire Products agreed to pay $750 million to communities with groundwater affected by so-called “forever chemicals” found in fire-stopping foam, Tyco has reached a tentative settlement with one of its insurance companies. “…We write jointly on …

Insurance Companies 264

Insurance Companies Insurer Insured Insurance 264

Insurance Journal

JULY 18, 2024

Four insurance companies, unable to escape a duty to defend a New York hotel where a young woman was secretly videotaped in the shower in 2015, have reached a settlement in the case that made headlines around the world. Citizens …

Insurance Companies 264

Insurance Companies Insurer Insured Insurance 264

Insurance Journal

SEPTEMBER 18, 2024

AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of Texas Farm Bureau Casualty Insurance Company and its affiliates, Farm …

Casualty Insurance 264

Casualty Insurance Insurance Companies Insurer Insured 264

Property Insurance Coverage Law

OCTOBER 2, 2024

Recent investigative reporting by CBS’s 60 Minutes, noted in CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management, has exposed alleged widespread underpayments of claims and unethical claims practices in Florida’s property insurance industry.

Claim 276

Claim Property Insurance Damage Insurance Industry 276

Insurance Journal

NOVEMBER 11, 2024

California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for more than 11,000 policyholders affected by the Shelly Fire located in Siskiyou County and the Bear Fire located in Sierra County.

Policyholder 246

Policyholder Insurance Companies Insurer Insured 246

Insurance Journal

JANUARY 23, 2025

California Insurance Commissioner Ricardo Lara is asking all California insurance companies to provide advance payments on claims for Los Angeles wildfire survivors. Lara’s order is designed to help speed the recovery process for wildfire survivors affected by several fires in …

Claim 243

Claim Insurance Companies Insurer Insured 243

Insurance Journal

JULY 25, 2024

Church Mutual, the church’s insurance company, had dropped them. John Parks was taking his first sabbatical in 40 years of ministry when he got a call from his church’s accountant with some bad news. “This does not make …

Insurance Companies 240

Insurance Companies Insurer Insured Insurance 240