Insurance Journal

AUGUST 13, 2024

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 …

Property Insurance 317

Property Insurance Casualty Insurance Insurance Insurer 317

Property Insurance Coverage Law

DECEMBER 3, 2024

For those battling insurance coverage issues in Texas, The Zelle Lonestar Lowdown offers invaluable monthly insights into Texas first-party property insurance law and claims.

Property Insurance 204

Property Insurance Insurance Insurer Insured 204

Insurance Journal

DECEMBER 12, 2024

New York is considering asking property and casualty insurers to cover the claims of insolvent taxi insurer American Transit Insurance Co., according to people familiar with the plans. That measure is one of several options under discussion as the state’s …

Property Insurance 246

Property Insurance Claim Casualty Insurance Insured 246

Insurance Journal

SEPTEMBER 30, 2024

Just as Florida property insurers face another round of storm claims, CBS News has raised questions about alleged insurer fraud stemming from claims incurred in the last major storm – Hurricane Ian, which hit much of southwest Florida two years …

Property Insurance 347

Property Insurance Claim Insured Insurance 347

Insurance Journal

JULY 21, 2024

Reinsurance in Florida’s long-stressed property insurance market was supposed to have stabilized this year – with moderate rate increases and more availability. But those calmer waters apparently have not reached the mobile home market, and Florida insurance agents are now …

Property Insurance 334

Property Insurance Insurance Agent Insurance Agents Agents 334

Insurance Journal

JANUARY 17, 2025

The Louisiana Citizens Property Insurance Corporation (Louisiana Citizens) Board of Directors voted last week to end the 1.36% assessment it makes on all residential and commercial property insurance policies in the state in April of this year. The assessment, which …

Policy 278

Policy Commercial Property Property Insurance Commercial 278

Insurance Journal

NOVEMBER 8, 2024

Florida’s Citizens Property Insurance Corp. Citizens, the largest property insurer in the state, ended the … has lifted its suspension on binding of policies as Hurricane Rafael turned away from Florida and was tracking toward Mexico and was expected to weaken.

Property Insurance 263

Property Insurance Policy Insured Insurance 263

Insurance Journal

SEPTEMBER 2, 2024

And he may be the best friend the Florida property insurance industry has. He’s been called “eccentric,” a “do-gooder,” a “troublemaker” and a whistleblower. A mechanical engineer based in Edgewater, George Miles has filed formal complaints with the Florida Board …

Property Insurance 306

Property Insurance Insurance Industry Insurance Insurer 306

Insurance Journal

SEPTEMBER 12, 2024

A Florida home inspector allegedly used the same stock photographs in more than 200 home and wind-mitigation inspections, costing Citizens Property Insurance Corp. more than $88,000, the state Department of Financial Services said after the man was arrested. Jasiel Mena, …

Property Insurance 299

Property Insurance Insured Insurance Insurer 299

Insurance Journal

AUGUST 7, 2024

If a property insurer is going to object to an appraisal panel member’s fee arrangement, it must do so early in the process – not after the panel provides an unfavorable, multimillion-dollar appraisal award. That was the word this week …

Property Insurance 299

Property Insurance Insured Insurance Insurer 299

Insurance Journal

JULY 12, 2024

Florida Tax Watch, a nonprofit government watchdog in operation for 45 years, is urging state lawmakers to expand wind-mitigation tax breaks for homeowners struggling with higher insurance premiums. The group this week posted an analysis of the Florida property insurance …

Property Insurance 298

Property Insurance Premium Insured Insurance 298

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 280

Claim Property Insurance Damage Insurance Industry 280

Insurance Journal

OCTOBER 2, 2024

The number of property insurance claims in Florida from Hurricane Helene had topped 65,700 by Tuesday, far more than the 25,000 seen in Hurricane Idalia a year ago, the Florida Office of Insurance Regulation reported. The total estimated insured losses …

Claim 290

Claim Property Insurance Insurance Claim Insured 290

Insurance Journal

OCTOBER 15, 2024

Property Insurance claims from Hurricane Milton had topped more than 123,000 by Sunday, with some $1.5 billion in estimated insured losses. That’s already more than the claims and losses reported for Helene, which made landfall in Florida two weeks earlier, …

Claim 290

Claim Property Insurance Insurance Claim Insured 290

Property Insurance Coverage Law

SEPTEMBER 18, 2024

There will have to be a follow-up to this because most will never truly appreciate the underlying depth of John Pappas’ impact on Florida property insurance law until it is fully explained. We were close friends … The post John Pappas Passes appeared first on Property Insurance Coverage Law Blog.

Property Insurance 265

Property Insurance Insured Insurance Insurer 265

Property Insurance Coverage Law

OCTOBER 17, 2024

The organization’s efforts, supported by dedicated legal professionals, concerned citizens, and courageous property insurance adjusters, have led to groundbreaking exposés that are shaking the foundations of the insurance … The post Supporting the American Policyholder Association With Time and Money Is an Obligation If You Are a True Policyholder (..)

Policyholder 265

Policyholder Property Insurance Insured Insurance 265

Property Insurance Coverage Law

JANUARY 18, 2025

Phil Primetime episode, The Shocking Truth Behind Rising Insurance Rates, exposed the systemic issues driving this crisis, highlighting personal stories of loss and struggle. As … The post The Rising Insurance Crisis: Advocating for Policyholders Beyond the CourtroomDr.

Policyholder 280

Policyholder Property Insurance Premium Insurance 280

Insurance Journal

NOVEMBER 21, 2024

Officials with Florida’s Citizens Property Insurance Corp. took issue Thursday with a number of national and Florida news reports that have suggested that the insurer has the “worst rate” on paying claims after recent hurricanes. “That’s just not accurate,” Citizens …

Claim 279

Claim Property Insurance Insured Insurance 279

Insurance Journal

NOVEMBER 22, 2024

Weiss Ratings, a Palm Beach Gardens financial ratings firm, sparked some outrage from the Florida insurance industry in recent weeks after it released reports contending that some of Florida’s largest property insurers were closing almost half of their hurricane claims …

Property Insurance 279

Property Insurance Insurance Industry Insured Insurance 279

Insurance Journal

AUGUST 4, 2024

By William Rabb Reinsurance in Florida’s long-stressed property insurance market was supposed to have stabilized this year – with only moderate rate increases and more availability. But those calmer waters apparently have not reached the mobile home market, and Florida …

Home Insurance 321

Home Insurance Property Insurance Insurance Insurer 321

Insurance Journal

AUGUST 28, 2024

Florida’s state-created Citizens Property Insurance Corp., has a few issues it needs to address, including policies with coverage values above its statutory limit, not sending enough renewals to its Clearinghouse, and failing to beef up its computer security measures, according …

Policy 279

Policy Property Insurance Insured Insurance 279

Insurance Journal

SEPTEMBER 25, 2024

Citizens Property Insurance Corp., Florida’s largest insurer, has suspended policy binding ahead of predicted Hurricane Helene, and a board member asked if the carrier could do more to help policyholders manage flood insurance claims from the looming storm. “My question …

Claim 279

Claim Policyholder Property Insurance Insurance Claim 279

Insurance Journal

JANUARY 8, 2025

A residual property insurer and regulators in two Southeastern states are emphasizing roof integrity, more signs that mitigation and prevention are increasingly recognized as ways to reduce insured losses as storms escalate in frequency and severity. “The goal is to …

Property Insurance 278

Property Insurance Insured Insurance Insurer 278

Property Insurance Coverage Law

JANUARY 16, 2025

appeared first on Property Insurance Coverage Law Blog. Badger got up early in the morning and read yesterdays post,Participate In Your DemocracyEven If You Are Called a Bazooka. He must be taking some type of mind-enhancing drug because his creativity has never been keener. … The post Badger Bazookas Merlin!

Property Insurance 265

Property Insurance Insured Insurance Insurer 265

Insurance Journal

JANUARY 13, 2025

As more policyholders with Florida’s Citizens Property Insurance are statutorily required to purchase flood insurance, another insurance rate-quoting service has gotten in on the act. Officials with HoneyQuote.com announced Monday that the firm has started offering flood insurance quotes from …

Policyholder 279

Policyholder Insurance Quotes Property Insurance Insured 279

Property Insurance Coverage Law

SEPTEMBER 30, 2024

The investigative report featured testimony from whistleblowers who claim that insurance companies deliberately altered hurricane damage reports to underpay homeowners, leaving many Floridians struggling to rebuild their lives in the wake … The post CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage (..)

Insurance Companies 307

Insurance Companies Damage Claim Property Insurance 307

Insurance Journal

DECEMBER 5, 2024

Florida’s Citizens Property Insurance Corp. has dropped below 1 million policies in force for the first time since July 2022, a milestone that officials said reflects an ongoing depopulation program and an improving market in the state. Since January of …

Policy 262

Policy Property Insurance Insured Insurance 262

Insurance Journal

AUGUST 14, 2024

Florida property insurers considering the expanded use of binding arbitration to settle claims disputes may want to ponder a recent arbitration move by Walt Disney Parks and Resorts: An answer to a lawsuit against Disney, which has made headlines on …

Property Insurance 306

Property Insurance Claim Insured Insurance 306

Insurance Journal

NOVEMBER 6, 2024

By this time next year, plaintiffs lawyers, who have frequently been held up as thorns in the side of the Florida property insurance industry for their sometimes-aggressive pursuit of policyholder claims litigation, could have a stamp of credibility to brandish …

Policyholder 264

Policyholder Property Insurance Insurance Industry Claim 264

Insurance Journal

OCTOBER 27, 2024

One of Florida’s largest property insurers and one of its smaller carriers reported losses at least partly related to Hurricane Helene, which landed just before the third quarter closed, and from Hurricane Milton, which struck less than two weeks later.

Property Insurance 264

Property Insurance Insured Insurance Insurer 264

Insurance Journal

AUGUST 6, 2024

The Florida Office of Insurance Regulation said it is reminding property insurers in the state to file Hurricane Debby claims data Thursday and Friday this week. Insurers should use the Simplified 2024 Catastrophe Reporting Form through the Insurance Regulation Filing …

Property Insurance 263

Property Insurance Claim Insured Insurance 263

Insurance Journal

OCTOBER 28, 2024

Costly reinsurance, inflation, tough regulations, and increasing weather-related claims are driving up property insurance prices—and in turn, that is impacting commercial real estate returns, valuations, and transactions, a new report shows. The Urban Land Institute and real estate investment management …

Risk 264

Risk Property Insurance Commercial Insured 264

Insurance Journal

JULY 23, 2024

The highest court in Massachusetts has ruled that rainwater accumulation on roofs of buildings does not constitute “surface waters” within the meaning of “flood” in property insurance policies. The court found that the term “surface waters” in policies is ambiguous …

Property Insurance 306

Property Insurance Insurance Policy Building Policy 306

Insurance Journal

AUGUST 9, 2024

Reports from Gallagher Re and the Florida Office of Insurance Regulation suggest that Tropical Storm Debby will not be a heavy lift for property insurers and reinsurers. “Early assessments suggest wind-related physical damage (is) not as extensive as initially feared,” …

Property Insurance 264

Property Insurance Damage Insured Insurance 264

Insurance Journal

JULY 21, 2024

A 2% surcharge on property insurance policies, mandatory fees on the oil and gas industries, and holding a public referendum are ways a public-private group formed in the aftermath of Superstorm Sandy recommends to pay for projects to protect New …

Property Insurance 262

Property Insurance Insurance Policy Insured Insurance 262

Insurance Journal

NOVEMBER 3, 2024

This means that the changes happening in the property insurance market o which safeguards this asset o are … By Andrew Mais, Jon Godfread, Scott White, & Elizabeth (Beth) Kelleher Dwyer Most homeowning Americans consider their home their most valuable asset.

Property Insurance 298

Property Insurance Insurance Insurer Insured 298

Insurance Journal

AUGUST 18, 2024

By Patrick Wraight A recent Insurance Journal article decried the state of insurance for churches and it’s mostly about their property insurance issues and we all know that the property insurance space has struggled in recent years, especially in storm-prone …

Property Insurance 246

Property Insurance Insurance Insurer Insured 246