Latest Coastal Headlines
All the headlines from our Coastal Topic Page, ordered by recency.
Allstate Limits Homeowners’ Business in N.Y. Coastal Areas
Jan 12 2006 // Allstate, New York State’s biggest writer of homeowners insurance, is pulling back from writing new business in New York metropolitan coastal areas in order to limit its exposure to future storm losses. The insurer...
Mass. Fair Plan Rate Case Drags On with Parties Far Apart
Jan 9 2006 // Hearings to decide on rates for the homeowners insurance residual market in Massachusetts have been going on since November and are likely to continue for several more months, according to officials. The three major...
Miss. Coastal Property Owners Get Tax Break on Katrina Damage
Dec 27 2005 // Many property owners on the Mississippi coast will get a tax break in 2005. Harrison and Jackson counties will offer a one-third reduction in assessed value on damaged or destroyed buildings, minus what is recovered from...
Citizens Approves 45 Percent Coastal Rate Increase, 21 Percent Inland
Dec 15 2005 // The Citizens Property Insurance Corp. board of governors has decided to approve higher premium increases that average 45 percent on Florida’s coast and 21 percent inland. The state’s insurer of last resort had...
Calif. Unprepared for Tsunami
Dec 13 2005 // Tsunami waves generated by a large offshore earthquake would threaten at least 1 million coastal residents in California and inundate the nation’s largest port complex, according to a new report. The study, released...
Major N.Y. Hurricane Would Cost $100 Billion, Warns Cat Model Firm AIR
Nov 16 2005 // A major hurricane making landfall in the New York City metropolitan area would result in approximately $50 billion of insured losses with total economic losses exceeding $100 billion, according to an expert testifying...
NSM Insurance of Pa. Acquires Reich Coastal Condo/Hotel Program
Oct 19 2005 // NSM Insurance Group of Conshohocken, Pa. is buying the coastal condominium, hotel and motel insurance program of Reich Insurance Associates, announced Geof McKernan, chief executive officer of NSM. CHAMP, as the program is...
N.C. Coastal Residents Begin Filing Claims From Ophelia
Sep 19 2005 // North Carolina insurance companies began taking claims on Friday from coastal residents who lost property due to Hurricane Ophelia and reported claims varied from minor to severe. Several carriers, like Allstate, had moved...
TDI Urges Coastal Residents to Review Insurance Coverages
Jul 22 2005 // During this already active hurricane season, officials at the Texas Department of Insurance are reminding all Gulf Coast home and business owners that is important to periodically review your insurance policies to ensure...
R.I. Summit Highlights Need for Coastal Insurance Solutions
Jul 6 2005 // Concern over insurance for coastal properties is mounting in Rhode Island, where markets are tight despite the fact that no hurricane beyond a category 1 has hit since Hurricane Carol in 1954. Some 30 Rhode Island...
Tropical Storm Arlene Opens Season; Will Bring S.E. Rain, Coastal Flooding
Jun 9 2005 // Tropical Storm Arlene, the first named tropical storm of the 2005 hurricane season, is developing in the northwest Caribbean. Tropical storms have top sustained winds of 39 mph to 74 mph. NOAA forecasters predict the storm...
South Central Homeowners Market Update
Apr 4 2005 // Judging from the homeowners insurance rate changes reported by the Arkansas Insurance Department for 2004, the highest increases were effective before August. The largest hike, 28.3 percent, was filed by Federal Insurance...
Homeowners Moving to the West Coast
Apr 4 2005 // Whether your client owns a multi-million dollar home overlooking the Pacific Ocean or a small bungalow tucked away a mile from the beach, it is your responsibility to find the right homeowners insurance coverage that will...
Insurers: N.Y. Coastal Property Market Restored
Oct 22 2004 // While affordability is still an issue, insurance coverage is now widely available in coastal areas of New York, according to the New York Insurance Association (NYIA). Addressing a public hearing before the New York State...
Wind Insurance Hikes Slap Coastal Residents
Oct 15 2004 // Coastal homeowners are getting socked again, and it has nothing to do with Charley, Frances, Ivan or Jeanne. Homeowners who buy hurricane insurance on their homes through Citizens Property Insurance Corp., the...
Texas Gov. Requests Hurricane Preparedness Report
Oct 6 2004 // Texas Gov. Rick Perry notified legislators from coastal areas across the state that he has directed Homeland Security Director Steve McCraw to assess Texas’ ability to handle large scale evacuations in the event of a...
Texas Coastal Residents Advised to be Prepared
Sep 23 2004 // Should Tropical Storm Ivan cause widespread damage from high winds and wind-driven rain along the Texas Gulf Coast those who sustain damage are urged to have patience since many adjusters have been assigned to Florida,...
RMS: Potential Losses for Ivan $4 to $10 Billion
Sep 15 2004 // Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, said that insured losses in the U.S. could range from $4 to $10 billion if Hurricane Ivan follows the latest...
Ala. Gov. Declares State of Emergency Voluntary Evacuations of Coastal Areas; Price Gouging Laws Also Take Effect
Sep 14 2004 // Gov. Bob Riley has declared an official state of emergency in Alabama due to the imminent threat posed by Hurricane Ivan. The emergency declaration enables the Governor to invoke various emergency preparedness measures...
Insurers to Coastal Residents in Texas: Be Prepared
Aug 30 2004 // Residents along the Gulf Coast of Texas can learn a lot from the experiences of those people in Florida who were victims of Hurricane Charley, according to Jerry Johns, president of Southwestern Insurance Information...
