Coastal - Latest Insurance News

Steady Habits Make for a Stable Market

Nov 30 2008 // Regulator Says Nutmeg State Will Take AIG and Catastrophe Problems in Stride Connecticut Insurance Commissioner Thomas Sullivan considers himself something of an insider when it comes to the insurance industry –...

Alabama’s Baldwin County Backs Captive as Coastal Insurance Option

Nov 20 2008 // County commissioners in Alabama’s Baldwin County have voted to endorse the concept of “captive insurance” in the hopes of helping the struggling construction industry on Alabama’s Gulf...

New Alabama Commissioner to Consider Coastal Insurance Subsidies

Nov 14 2008 // Gov. Bob Riley’s new insurance commissioner said the administration is considering its options to help coastal property owners struggling with high premiums and lost coverage in the wake of hurricanes, including...

Alabama Revenue Chief Calls for Captive Insurers for Coastal Property Risks

Nov 2 2008 // Alabama’s coastal property insurance crisis could be resolved by the state and cities working together to form special types of insurance companies to offer coverage, the state revenue commissioner said. Tim Russell,...

Venture Launches Coastal Property Coverage Under New Facility

Oct 24 2008 // West Chester, Pa.-based Venture Insurance Programs, a national program administrator, will offer coastal property coverage under a new CATalyst Property Insurance brokerage facility. CATalyst will support each of...

Alabama Revenue Chief Seeks End to Crisis on Coast

Oct 23 2008 // Alabama’s coastal property insurance crisis could be resolved by the state and cities working together to form special types of insurance companies to offer coverage, the state revenue commissioner said. Tim Russell,...

Insurers’ Study Warns on North Carolina Beach Plan Deficit

Oct 21 2008 // The Property Casualty Insurers Association of America unveiled results of an independent report which found that the North Carolina Insurance Underwriting Association, a.k.a. the Beach Plan, is not financially prepared to...

Insurers Weigh-in on North Carolina Committee’s Beach Plan Analysis

Oct 1 2008 // A North Carolina joint legislative study committee began hearings on Sept. 30 regarding the financial health of the state’s Insurance Underwriting Association, a.k.a. the Beach Plan. The Joint Select Study Committee...

Feds Approve Ike Disaster Aid in Coastal Alabama

Sep 29 2008 // President George W. Bush approved federal disaster aid in Alabama to supplement state and local recovery efforts from Hurricane Ike in Mobile and Baldwin counties. The White House announced Sept. 26 that the action makes...

Public Hearing In Mississippi to Highlight Coastal Insurance Issues

Sep 29 2008 // The Mississippi House of Representatives Insurance Committee will host a public hearing to discuss housing and insurance issues in the wake of Hurricanes Katrina, Gustav and Ike. State Rep. and Chairman Walter Robinson...

Southeast Coastal Storm to Bring Brisk Winds, Waves

Sep 25 2008 // Powerful winds promised to scour the Southeast coast with strong winds and heavy seas, though residents were taking the promise of 50-mile-an-hour gusts in stride. The National Weather Service issued high wind warnings for...

Hurricane and Political Seasons Stir Up National Cat Plan Proposals

Sep 22 2008 // As Losses Mount for Insurers, More Proposals for a National Solution Emerge Neither Gustav nor Ike walloped the property/casualty insurance industry the way Katrina did but there is still concern in insurance and...

South Carolina Coastal Risk Conference Garners Insurer Support

Sep 18 2008 // The American Insurance Association is participating in this week’s conference “Out of the Storm: Confronting America’s Catastrophic Risk Crisis,” organized by the South Carolina Department of...

Lloyd’s, RMS Coastal Flood Study Urges Adapting to Changing Conditions

Sep 10 2008 // A new report published by Lloyd’s, as part of its “360 project,” and Risk Management Solutions (RMS), warns that “without adaptation, insurance losses from coastal flooding for high-risk properties...

Alabama Beach Pool Reports Progress on Coastal Insurance Issues

Sep 4 2008 // The Alabama Insurance Underwriting Association, a.k.a. the Beach Pool, released a progress report on a series of coastal insurance recommendations made by a state task force following Hurricane Ivan in 2004. The 20-member...

Insurers Seek Study of North Carolina Beach Plan’s Finances

Sep 1 2008 // Insurers are calling upon the the North Carolina Insurance Underwriting Association, known as the Beach Plan, to release its financial information to allow consumers, lawmakers and insurers to begin working on long-term...

Lloyd’s, RMS to Release Global Coastal Flood Report

Aug 25 2008 // Lloyd’s and Risk Management Solutions will publish a new report on coastal flooding on Tuesday, Sept. 9 in conjunction with the Reinsurance Rendezvous in Monte Carlo. Lloyd’s said the report looks specifically...

Insured Property Value in Coastal States to Double in 10 Years

Aug 21 2008 // In the past three years, the insured value of properties in coastal areas of the United States continued to grow at a compound annual growth rate of just more than 7 percent, according to a new report released by AIR...

Insurers, Agents Urge Coastal Wind Policy from Texas to Maine

Aug 4 2008 // Travelers, Nationwide Mutual and two leading national insurance producer organizations are supporting a plan they say will make private windstorm insurance more affordable and available in coastal areas. Federal...

Insurance Agents, Travelers, Nationwide Urge Coastal Wind Policy