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…
Property and Casualty News
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.
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…
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 insurance agent Marc Leigh Miles, 71, formerly of Irvine, Calif. and currently residing in Eagle, Idaho, was arraigned last…
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.
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—…
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.
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…
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…
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…
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 First, a coalition of auto insurance carriers and independent agents and brokers, today launched a campaign to reduce obstacles…
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…
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.
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…
Effective April 11, 2022, the Idaho Department of Insurance revoked the insurance producer license of Eva L.C. Bowman for ten…
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.
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…
