Latest Policyholder Headlines
All the headlines from our Policyholder Topic Page, ordered by recency.
Vermont Issues Bulletin on Price Optimization in Personal Lines Ratemaking
Jul 2 2015 // Vermont regulators issued a bulletin last week addressing the issue of “price optimization” in personal lines ratemaking. The Vermont Department of Financial Regulation (DFR) noted in the bulletin that some...
FEMA Sets Sept. 15 Deadline for Requesting Sandy Flood Claims Review
Jun 29 2015 // The Federal Emergency Management Agency (FEMA) announced that Sept. 15 would be the last day for National Flood Insurance Program (NFIP) policyholders who filed Superstorm Sandy flood claims to sign up for the review...
Citizens Approves Rate Changes for Florida Insureds
Jun 25 2015 // Citizens Property Insurance Corporation’s Board of Governors has approved a 2016 rate package that lowers rates for nearly half of Citizens’ personal lines policyholders while responding to increased water loss...
Malaysia Islamic Insurers Seek to Double Policyholders by Going Digital
Jun 18 2015 // Malaysia’s Islamic insurers are seeking to double policyholders in five years by investing more in digital technologies to attract a younger audience, according to the industry association’s head. Takaful...
Windstorm Insurance Bill Stirs Lively Debate in Texas House
Jun 15 2015 // Differences of opinion on the never-ending problem of what to do about property insurance along the coast had lawmakers from coastal areas pitted against inland representatives in the waning days of the Texas legislative...
Florida Commissioner McCarty Warns Against U.S. Adopting ‘Bank-Like’ Regulation for Insurance
Jun 15 2015 // Florida Insurance Commissioner Kevin McCarty championed flexible state insurance regulation and warned against “one-size-fits-all” bank-like regulation for insurers in recent testimony before the U.S. Senate...
Florida Governor Vetoes Changes to Citizens Depopulation Program
Jun 4 2015 // Florida Gov. Rick Scott has vetoed legislation that would modify Citizens Property Insurance Corp.’s depopulation program enacted to lower the state-created insurer of last resort’s policy count and reduce its...
Exec’s Parting Shot: Flood Insurance Program Is a ‘Melting Iceberg’
Jun 3 2015 // The outgoing director of the National Flood Insurance Program (NFIP) says the program is a “melting iceberg” that is incapable of properly managing its various players including the private insurance carriers...
Insurers Can Track Mileage with Policyholders’ Smartphones
Jun 2 2015 // Property/casualty insurance information company Verisk Insurance Solutions is teaming with technology firm Vehcon to provide insurance companies with the ability to collect automobile odometer readings for insurance rating...
FEMA Sends Out Letters Offering to Review Sandy Claims
Jun 1 2015 // The Federal Emergency Management Agency on May 18 mailed out its first round of letters to the National Flood Insurance Program policyholders who filed Superstorm Sandy-related claims, asking whether they want their claims...
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...
FEMA: Nearly 1,000 Sandy Claimants Signed Up for Claims Review So Far
May 29 2015 // The Federal Emergency Management Agency (FEMA) last week sent out its first round of letters to the National Flood Insurance Program (NFIP) policyholders who filed Superstorm Sandy-related claims, offering them a chance to...
Beazley Launches Risk Management Website for Breach Response Policyholders
May 22 2015 // Beazley has launched of a new risk management website for Beazley Breach Response (BBR) policyholders. The site offers tools and resources to help insureds prepare for and respond to a data breach and minimize reputational...
FEMA Sends Out 1st Round of Letters Offering to Review Sandy Flood Claims
May 19 2015 // The Federal Emergency Management Agency on Monday mailed out its first round of letters to the National Flood Insurance Program policyholders who filed Superstorm Sandy-related claims, asking whether they want their claims...
Florida Bans Price Optimization; Insurers Question Definition
May 19 2015 // A memorandum released last week by Florida Insurance Commissioner Kevin McCarty warning insurers in the state not to use price optimization in rating has gotten cheers from a consumer advocate group and jeers from an...
Sony, Zurich Settle PlayStation Data Breach Case
May 18 2015 // Sony Corp. of America and Zurich American Insurance Co. have reached a settlement in a commercial general liability (CGL) policy coverage case stemming from the April 2011 hacking of Sony’s PlayStation online...
Fitch Upgrades Citizens to ‘AA-‘, Outlook Stable
May 14 2015 // Fitch Ratings has upgraded the rating on the following senior secured bonds of the Citizens Property Insurance Corp., FL, PLA/CLA to ‘AA-‘ from ‘A+’: –$1.1 billion series 2012A-1; –$200...
Sen. Schumer Warns N.Y. Homeowners About Flood Insurance Surcharge
May 12 2015 // U.S. Sen. Charles Schumer, D-N.Y., is urging the Federal Emergency Management Agency (FEMA) to make major changes to what he described as a new, unfair flood insurance rule that has led to the “misapplication of an...
FEMA to Ask Sandy Homeowners If They Want to Reopen Claims
May 8 2015 // Homeowners insured through the National Flood Insurance Program who think they were shortchanged for Superstorm Sandy damage are getting another chance for reimbursement. The Federal Emergency Management Agency will begin...
Utah Workers’ Comp Fund Announces 6% Dividend
May 6 2015 // Utah’s Workers Compensation Fund has declared a $12 million dividend that will be distributed to a majority of policyholders this month. Policyholders can expect to receive a dividend equal to 6 percent of their 2014...
