Latest Coastal Headlines
All the headlines from our Coastal Topic Page, ordered by recency.
Louisiana Citizens Property Insurance Mulling Coastal Rate Hike
Jun 1 2015 // More than 65,000 homeowners in coastal parishes covered by the Louisiana’s property insurer of last resort could see their rates jump 10 percent in mid-August. Under state law, Louisiana Citizens Property Insurance...
Report: Florida Coastal Communities Rebuilt, Ready to Face Future Storms
May 29 2015 // Since eight hurricanes whipped through Florida during back-to-back seasons a decade ago, causing $33 billion in insurance claims, the state’s coastal communities have added an additional 1.5 million people and almost...
Fitch Upgrades Citizens’ Coastal Account, Outlook Stable
May 18 2015 // Fitch Ratings has assigned an ‘AA-‘ rating to the following senior secured bonds of the Citizens Property Insurance Corp., Coastal Account (formerly known as the High Risk Account): $750 million series 2015A-1;...
Florida Approves Removal of 30,000 Policies from Citizens
May 15 2015 // The Florida Office of Insurance Regulation (Office) has approved the removal of up to 30,000 personal residential policies and 50 commercial residential polices from Citizens Property Insurance Corporation (Citizens) by...
Orchid Underwriters Agency Acquires Coastal Agents Alliance in New Jersey
May 5 2015 // Orchid Underwriters Agency LLC, a Vero Beach, Florida-based managing general agent providing excess & surplus (E&S) insurance for coastal properties, announced that it has acquired Coastal Agents Alliance, a...
Fitch Upgrades Citizens’ Coastal Account, Outlook Stable
May 5 2015 // Fitch Ratings has assigned an ‘AA-‘ rating to the following senior secured bonds of the Citizens Property Insurance Corp., Coastal Account (formerly known as the High Risk Account): –$750 million series...
How to Manage Risk of Valuable Properties Concentrated in Coastal Areas
Apr 21 2015 // U.S insured property values as of 2014 exceed $90 trillion, but the bulk of that is increasingly concentrated in vulnerable coastal areas. With that in mind, new risk metrics could better help monitor exposures, Karen...
Industry, Consumer Group Spokesman Express Opposition to Texas Windstorm Bill
Apr 20 2015 // It’s not often you find an area of agreement between the property/casualty insurance industry and consumer advocacy organizations, but a Texas bill addressing the state’s coastal windstorm insurance pool has...
Florida Office of Insurance Approves Removal of 45,500 Policies from Citizens
Apr 9 2015 // The Florida Office of Insurance Regulation has approved the removal of up to 45,000 personal residential policies and 500 commercial residential polices from Citizens Property Insurance Corp. by the following two...
BB&T Ups Stake in AmRisc Agency, Divests Insurer American Coastal
Apr 2 2015 // Raleigh, North Carolina-based insurance broker BB&T Insurance Holdings Inc. has reached an agreement to significantly increase its partnership interest in AmRisc, a managing general underwriter for commercial property...
Army Corps Releases Northeast Coastal Flood Risk Management Framework
Jan 30 2015 // The U.S. Army Corps of Engineers on Wednesday issued a report saying that managing the flooding risk along the North Atlantic coast from events like Superstorm Sandy is something that has to be done collaboratively by all...
Massachusetts Coastal Communities Hit Hard by Blizzard
Jan 30 2015 // Some of the areas hardest hit by the blizzard that tore through Massachusetts were on the coastline, where oceanfront homes took the brunt of raging seas. In Marshfield, Massachusetts, officials were still assessing the...
TWIA Legislative Recommendations Address Funding, Depopulation
Jan 26 2015 // The Texas Windstorm Insurance Association, the state-created insurer that provides property coverage for wind and hail in 14 coastal counties and parts of Harris County, has submitted a report to the Legislature with...
Legislative Focus for Texas Windstorm Insurer: Funding, Depopulation
Jan 22 2015 // The Texas Windstorm Insurance Association, the state-created insurer that provides property coverage for wind and hail in 14 coastal counties and parts of Harris County, has submitted a report to the Legislature with...
AssuredPartners Acquires Premiere Coastal Insurance Group in South Carolina
Nov 6 2014 // AssuredPartners Inc., through its subsidiary Assured Neace Lukens, has acquired Premiere Coastal Insurance Group. No financial terms were disclosed. Premiere Coastal Insurance Group specializes in providing insurance...
2 Small Players Settle in Louisiana ‘Big Oil’ Coastal Flooding Suit
Nov 3 2014 // Two of the smaller players in a New Orleans area flood board’s lawsuit against the oil industry over damage to the state’s coast have agreed to a settlement. An attorney for the Southeast Louisiana Flood...
High-Tide Floods to Triple for Some Coastal Cities
Oct 20 2014 // Flooding during high tides, which used to be rare, is now common in some places and could worsen to the point that sections of coastal cities may flood so often they would become unusable in the near future, according to a...
Alabama’s Lessons from Hurricane Ivan at 10th Anniversary
Oct 6 2014 // Last month marked the 10th anniversary of Hurricane Ivan, one of the costliest tropical storms to ever hit the U.S. Ivan came ashore near Gulf Shores, Alabama, on Sept. 16, 2004, as a Category 3 storm. The storm also...
Coastal Carolina University Suspends 3 Fraternities
Sep 29 2014 // Coastal Carolina University in Conway, S.C. has suspended three fraternities after administrators received hazing complaints. Coastal spokeswoman Martha Hunn told local reporters the chapters of Kappa Sigma, Tau Kappa...
Flood Board Oil Lawsuit Supporter Backed by Panel
Sep 24 2014 // A supporter of a lawsuit against the oil industry was re-nominated to a seat on a south Louisiana flood control board, despite Gov. Bobby Jindal’s vehement opposition to the lawsuit. The nominating committee for the...
