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When navigating contested propertyinsurance claims, insured parties may receive a request from their insurer for an Examination Under Oath (EUO). It is a formal proceeding, not unlike a deposition, where an insured is required to answer questions under oath about their insurance claim.
A new investigation into Floridas propertyinsurance industry is set to begin, raising significant questions about insurer profitability, financial transparency, and the true reasons behind skyrocketing premiums for policyholders.
How many days do you have to move into a new home after purchase to keep your insurance coverage valid? AmGuard took the position that the new homeowner had no coverage because she was not living at the premises when she purchased the policy … The post When Does PropertyInsurance Coverage Start?
Brand new Florida home insurer Mangrove PropertyInsurance Co. a financial analysis firm that specializes in rating regional and specialty insurers. As previously reported by Insurance Journal, … has received a Financial Stability Rating (FSR) of “A, Exceptional” from Demotech, Inc.,
After receiving multiple inquiries about the use of aerial images in propertyinsurance nonrenewals, West Virginia’s insurance commissioner has posted guidelines for insurers’ use of the technology. In a bulletin this month, Commissioner Allan McVey reminded insurance companies that aerial …
US propertyinsurance rates are decreasing for the first time in almost seven years, after insurers returned to profitability amid lower losses tied to catastrophes. The average US propertyinsurance rate decreased 0.94% in the second quarter from a year …
Florida legislative leaders, facing increasing pressure from the public and the press, this week pledged to investigate propertyinsurers’ financial structures. And bills filed before the 2025 Legislature began this week also would require executive pay disclosure by carriers, along …
Former RenaissanceRe executive Stephen Weinstein has launched a new Florida-domiciled insurance carrier, known as Mangrove PropertyInsurance, with plans to assume thousands of policies from Citizens PropertyInsurance Corp. Mangrove, with offices in Tallahassee, will be the 10th new insurer …
Yesterdays testimony before the Florida House Insurance & Banking Subcommittee ripped the cover off a story thats been brewing for years: the Office of Insurance Regulation (OIR) under David Altmaier had a completed, paid-for, red-flag-waving report about insurer affiliate transactions showing hundreds of millions of hidden profits for the insurance (..)
Millions Have No Idea Theyre at Risk,shed … The post Underinsured and Unprotected: Are California Insurance Agents to Blame? appeared first on PropertyInsurance Coverage Law Blog. A recent in-depth investigative report by theSan Francisco Chronicle,A Broken System is Keeping California Homes Underinsured.
A new bill filed in the Florida Senate by Don Gaetz is making waves by proposing that insurance companies disclose the financial relationships of their executives and related entities. It also demands transparency … The post Why Shouldn’t Insurance Executives Disclose Their Pay?
Seeing firsthand the devastating aftermath and hearing the deeply emotional stories from these homeowners is heartbreakingbut whats even worse is witnessing how some insurance companies continue to compound their customers’ trauma … The post Why Are California Insurers Putting Their Policyholder Customers at Risk For Their Health?
An academic paper published in the Journal of Insurance Regulation seems to have rekindled the debate over how much of an impact litigation and fraud have had on propertyinsurance losses and premiums, particularly in Florida. The paper, “The Case …
A new bill filed in the Florida Senate by Don Gaetz is making waves by proposing that insurance companies disclose the financial relationships of their executives and related entities. It also demands transparency … The post Why Shouldn’t Insurance Executives Disclose Their Pay?
James Kirsh expects the cost of the property and casualty insurance for his family-owned foundry in Wisconsin that makes cast iron parts for tractors and other equipment to at least double when it’s up for renewal this fall. He’s been …
The recent filing of two sweeping antitrust lawsuits in California against a long list of most of the admitted California insurance companies has generated immediate attention within the insurance industry.
A recent conversation on LinkedIn has sparked serious questions about the objectivity of engineering reports used by insurance companies. The statement … The post What If Every Insurance Company Engineer Report Suggests a Denied Claim? Were About to Find Out appeared first on PropertyInsurance Coverage Law Blog.
As consumer complaints have apparently mounted over unpaid hurricane losses, Florida’s top insurance regulator and some lawmakers are signaling new scrutiny on insurance carriers’ claims-handling and other practices. Florida Insurance Commissioner Michael Yaworsky late last week posted a memo, demanding …
Floridas homeowners have been paying ever-increasing insurance premiums, but where has all that money been going? A secret state report, which regulators conveniently left unfinished and never shared with lawmakers, might have held the answer.
A recent public records request byTampa Bay Timesreporter Lawrence Mower has uncovered a revealing memo from Floridas Office of Insurance Regulation (OIR) that could mark a major turning point in how the state handles insurance regulation.
The article … The post Understanding the Total Constructive Loss Doctrine in PropertyInsurance Policies appeared first on PropertyInsurance Coverage Law Blog.
Moody’s Ratings said in a report on Thursday that it expects the Los Angeles wildfires to increase propertyinsurance costs across California. According to Moody’s, the state’s already noticeable insurance pricing and availability challenges are likely to intensify, with negative …
American Integrity Insurance, one of the largest propertyinsurance carriers in Florida with more than 350,000 policies in force, is going to Wall Street with an initial public offering. The Tampa-based parent company, American Integrity Insurance Group, founded in 2006, …
Travelers Casualty Insurance Company of America. 1 The property owner sued three and a half … The post Suit-Limitation Clauses in Property InsuranceFile Fast or Lose Everything appeared first on PropertyInsurance Coverage Law Blog.
Just as many Florida propertyinsurers had hoped to see a boost to the private market with a maximum rate increase for Citizens PropertyInsurance Corp., state regulators have slashed the rate hike by more than half. After an unusually …
How do insurance claims work when your home has already been damaged once? A recent Florida Office of Insurance Regulation (OIR) Bulletin clarifies how insurers must handle claims for multiple hurricanes. But what happens when two hurricanes strike in the same season?
When a devastating fire damages a building and a municipality orders it razed, the instinctive reaction of many policyholders is to expect that their insurance will cover the total loss.
Seeing firsthand the devastating aftermath and hearing the deeply emotional stories from these homeowners is heartbreakingbut whats even worse is witnessing how some insurance companies continue to compound their customers’ trauma … The post Why Are California Insurers Putting Their Policyholder Customers at Risk For Their Health?
1 Insuringproperty for unmarried couples is not so easy in many states. A recent Michigan case found that the unmarried woman did not qualify as an insured under a … The post Insuring Unmarried CouplesIs There Coverage? appeared first on PropertyInsurance Coverage Law Blog.
Wright National Flood Insurance Company 1 highlights a harsh reality for policyholders seeking to recover under the National Flood Insurance Program (NFIP).Strict Wright National Flood Insurance Company 1 highlights a harsh reality for policyholders seeking to recover under the National Flood Insurance Program (NFIP).Strict
Travelers Casualty Insurance Company of America. 1 The property owner sued three and a half … The post Suit-Limitation Clauses in Property InsuranceFile Fast or Lose Everything appeared first on PropertyInsurance Coverage Law Blog.
How many days do you have to move into a new home after purchase to keep your insurance coverage valid? AmGuard took the position that the new homeowner had no coverage because she was not living at the premises when she purchased the policy … The post When Does PropertyInsurance Coverage Start?
A recent federal court decision favoring Liberty Mutual Insurance Company in a pipe burst claim1 left me thinking about two lessons. First, this case strongly reminds policyholders to be aware of time limits in their insurance policies and take action as soon as they believe their claim is not being handled fairly.
Thats the reality policyholders face when insurance companies delay or wrongfully deny claims, only to make a late payment after an appraisal and walk away without any real accountability. Last weeks decision in Mirelez v.
Thats the reality policyholders face when insurance companies delay or wrongfully deny claims, only to make a late payment after an appraisal and walk away without any real accountability. Last weeks decision in Mirelez v.
Florida’s insurance commissioner on Monday announced another entry into the warming waters of the Florida property-casualty market the 12th new insurer in the last two years. Apex Star Reciprocal Exchange is part of Starlight Insurance Group, based in New …
Concerns about Florida-based insurance carriers masking profits with the help of affiliated companies has spilled across the border into Georgia, with one state senator calling for an investigation. Nabilah Islam Parkes, D-Duluth, this week sent a letter to Georgia …
When a devastating fire damages a building and a municipality orders it razed, the instinctive reaction of many policyholders is to expect that their insurance will cover the total loss.
Is an Invasion Covered Under a Commercial Insurance Policy? appeared first on PropertyInsurance Coverage Law Blog. where I gave a short explanation of the day: Tampas Mayor refused to hand over the keys to the city on Tuesday to … The post Pirates Invade Tampa!
I will deliver a presentation at the Annual Meeting of the National Association of Public Insurance Adjusters (NAPIA) next month, focusing on two cornerstones of propertyinsurance claims: proofs of loss and examinations under oath. Its a topic I first addressed for NAPIA exactly forty years ago.
The better the measuring devices are becoming, the better we understand how … The post The Science of Windstorm Losses Has EvolvedWhy the Leaders of Windstorm Losses Go to the Windstorm Insurance Conference appeared first on PropertyInsurance Coverage Law Blog.
Propertyinsurance adjustersboth company-employed and independentserve as the backbone of the claims process, ensuring that policyholders receive the full benefits of their coverage as swiftly and fairly as possible.
Steven Coombs is someone I would affectionally call a master insurance coverage nerd. … The post Insurance Adjusters and EstimatorsDo You Really Understand Construction Specifications? … The post Insurance Adjusters and EstimatorsDo You Really Understand Construction Specifications?
Propertyinsurance adjustersboth company-employed and independentserve as the backbone of the claims process, ensuring that policyholders receive the full benefits of their coverage as swiftly and fairly as possible.
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