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Total Insurance Losses From Hurricanes Laura, Ida Now Over $20B

April 25, 2022

Speaking with Jan Swift on the Discover Lafayette podcast, Donelon said some insurers in Louisiana have gone bust as a result. Fortunately, the Louisiana Insurance Guaranty Association is in place to protect property and casualty policyholders with recovery from LIGA is capped at $500,000 per person and $500,000 per occurrence. Working to create…

April 25, 2022

Commentary: Bring Sanity To Florida’s Property Insurance Surge

There are a lot of culprits to Florida’s insurance crunch: fraud, litigation, the costs of roofs, roofing scams and active hurricane seasons the most often cited.

Ousted Residents Of Wisconsin Condo Sue Insurer For $17M

April 25, 2022

From the perspective of more than two dozen owners displaced from the structurally compromised condominiums on West Avenue, Travelers Insurance has only added to their plight. The lawsuit, filed April 18 in Waukesha County Circuit Court, alleges that Connecticut- based Travelers breached its contract and offered insurance in bad faith, leaving residents to…

A Tale Of Two Flood Insurance Policy Changes

April 24, 2022

Apr. 24— Two separate changes to the way federal authorities determine flood risk will impact how much owners of properties in the Susquehanna River floodplain pay for flood insurance. Insurance rates will change again for some properties in the floodplain late this year or next year, when FEMA's revised flood maps take effect. FEMA released preliminary…

Former California Insurance Agent Who Fled State Arraigned For Theft, Fraud

April 21, 2022

Former insurance agent Marc Leigh Miles, 71, formerly of Irvine, Calif. and currently residing in Eagle, Idaho, was arraigned last…

April 21, 2022
Florida insurance rates are on the rise.

Rates Rise By As Much As 111% During Florida’s Ongoing Insurance Crisis

Policyholders are being preyed on by unlicensed and unregulated “bad actors” who are artificially driving up claim frequency and severity in Florida, leading to “shrinkflation” – higher rates with less coverage.

Wisconsin Man Offers Indemnification For Release Of Bullet From Son’s 2004 Shooting

April 20, 2022

Bell Sr., of Kenosha, made the indemnification offer at Monday night's City Council meeting during public comments. "Today, I am offering the City of Kenosha and its insurance carrier financial indemnification if the police bullet that killed my son is released for outside analysis," Bell Sr. said. Bell Sr. has ramped up attacks against city administration—…

Mark Lane: Windstorm Insurance Sticker Shock Hits Florida Homeowners

April 20, 2022

The coming hurricane season's windstorm insurance premium will rise by almost 30%, more than $400, over the year before. Instead, this is typical of something happening all over Florida this year. Gulfstream's collapse: Sarasota property insurer's liquidation leaves customers scrambling.

Could Reform Of Hurricane Catastrophe Fund Help Solve Florida Insurance Crisis?

April 20, 2022

TAMPA, Fla.— Florida lawmakers will head back to the capitol next month to address the state's property insurance crisis, and insurance experts say one proposal could immediately save homeowners, on average, $150 per year. Man behind most Florida insurance company ratings paints grim picture if crisis isn't addressed. Sen. Brandes wants to change the Florida…

Mississippi River Cities Anxious For Federal Dollars To Address Flooding

April 19, 2022

La Crosse is among the communities up and down the Mississippi River eager for federal funding to help address chronic flooding. In a report from the Associated Press published Monday, a flood planning consultant for the city of La Crosse talked about what the incoming funding from President Biden's $1.2 trillion infrastructure package might mean for the…

Public Citizen: California Climate Insurance Disclosure Bill Stalls

April 19, 2022

WASHINGTON, April 19– Public Citizen issued the following news release on April 18, 2022:. Insurers have spent $1.5 million making campaign contributions to secure the committee's support, including $231,000 to Committee Chair Tom Daly alone, in just the last 4 years. News of the committee refusing to hear the bill comes as the California Department of…

April 19, 2022
Florida insurance rates are on the rise.

DeSantis To Call For Special Session On Florida’s Property Insurance Crisis

DeSantis indicated that GOP leaders have agreed on a framework for the property insurance bill. The governor has been under pressure from both Republicans and Democrats to do something about insurance costs.

NY Coalition Launches To Improve Access To Auto Insurance

April 18, 2022

NY First, a coalition of auto insurance carriers and independent agents and brokers, today launched a campaign to reduce obstacles…

Louisiana Bill Would Require Insurers To Cover Evacuation Expenses

April 16, 2022

Apr. 16— As Hurricane Ida hurtled toward south Louisiana, Paulette Tybussek, a resident of Jefferson Parish, weighed her options: "Do you put your life at risk and stay? But, as she later learned, her insurer, State Farm, wouldn't cover those evacuation expenses, only because officials called for a voluntary evacuation— not mandatory. Laurie Schlegel, a Metairie…

Ex-Employee Of Travel Insurance Co. Sentenced To Over 2 Years In Prison

April 16, 2022

The U.S. Attorney for the Southern District of Indiana, Zachary A. Myers, issued the following news release on April 15, 2022:. Maria Caceres, 56, of Coral Springs, Florida and formerly of Hamilton County, Indiana, was sentenced late yesterday to 30 months in federal prison following her conviction of wire fraud, to which she had previously plead guilty.

Florida Homeowners’ Insurance Keeps Going Up. Do Lawmakers Care?

April 15, 2022

The homeowners’ insurance market in Florida has been broken for so long it’ s hard to remember when it wasn’ t. Now we have another round of companies going under, another set of lawmakers declaring it a crisis and premiums for consumers soaring once again. Jeff Brandes, a St. Petersburg Republican, that you help consumers by helping companies stay in the Florida…

Idaho Agent Wrote Allstate Property Policies Items Without Clients’ Knowing

April 14, 2022

Effective April 11, 2022, the Idaho Department of Insurance revoked the insurance producer license of Eva L.C. Bowman for ten…

April 14, 2022
The Russian invasion of Ukraine is destined to hamper the world economy, a Conference Board speaker says.

A Fourth Louisiana Insurer Goes Belly-Up In Hurricane Ida’s Aftermath

The carrier, also known as Lighthouse Excalibur Insurance Company, has approximately 30,000 policies and 16,000 Ida-related claims. It covered 3.27% of the Louisiana’s homeowners insurance market.

Insurers Sue Avista To Recover Payouts From 2020 Wildfire In Washington State

April 12, 2022

Apr. 12— More than a dozen insurance companies— which covered more than 40 Malden and Pine City residents, at least four business entities and the town of Malden itself— are suing Avista Utilities in an attempt to recover insurance payouts from a wildfire that destroyed much of the towns in 2020.. The lawsuit was filed March 31 in Spokane County Superior Court, just a…

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