Latest Policyholder Headlines
All the headlines from our Policyholder Topic Page, ordered by recency.
Preparing Policyholders for Catastrophic Events
Jun 21 2021 // In 2020 alone, Aon estimated that insured property losses from natural disasters in the U.S. climbed to around $74 billion in losses, much higher than the 10-year average. The only year that beats 2020 in terms of losses...
N.Y. Bill Aims to Give Policyholders Private Right of Action in Unfair Claims Disputes
Jun 10 2021 // A proposed bill in New York relating to unfair claims settlement practices would provide policyholders with a private right of action against insurers who refuse or delay payment of a claim. The bill comes as many...
Record Winter Losses Are Challenging Policyholder Relationships: Aon
May 17 2021 // U.S. insurers suffered record-breaking winter storm losses during the first quarter of 2021 while also grappling with several high-profile cyberattacks, according to a recent report released by Aon. Maybe claims...
Texas Mutual to Distribute $330M in Policyholder Dividends
May 4 2021 // Workers’ compensation insurer, Texas Mutual Insurance Co., will distribute $330 million in policyholder dividends in June, the company said. More than 57,000 Texas business owners, representing approximately 79% of...
Oregon SAIF Declares $210M Dividend for Policyholders
Mar 10 2021 // Oregon’s nonprofit State Accident Insurance Fund Corp. (SAIF) on Wednesday declared a $210 million dividend for its policyholders and acknowledged the financial toll the pandemic has taken on Oregon...
Florida Court Upholds Policyholder Right to Assign Benefits
Jan 5 2021 // An appellate court in Florida has upheld the right of policyholders to assign their right to collect benefits from an insurance claim to contractors, reversing trial court rulings in favor of insurers. The Florida 3rd...
Liquidation Requested for Texas Nonstandard Auto Insurer, ACCC
Nov 30 2020 // An application for an order of liquidation has been filed in a Travis County, Texas, district court for a Houston-based nonstandard auto insurer now in receivership. With the agreement of its board of directors, ACCC...
Insurers Powered by New Tech Ready to Assist Policyholders
Nov 2 2020 // This hurricane season has already broken several records, and it is not over yet. So far, 2020 has produced 23 named storms, including two using the Greek alphabet for only the second time in history. Nine named storms...
N.C. Judge First to Favor Policyholders in COVID-19 Closure Lawsuit
Nov 2 2020 // A judge in Durham County, N.C., has handed down what may be the nation’s first dispositive ruling in favor of policyholders in a COVID-19 business-interruption lawsuit. Superior Court Judge Orlando F. Hudson Jr....
Florida Property Insurance Market Inches Closer to Crisis – Part 1
Oct 29 2020 // After years of warnings that the Florida property insurance market was heading towards an availability crisis, many in the industry say the moment of reckoning has arrived. They blame unchecked claims litigation from...
Judge in North Carolina Favors Policyholders in COVID-19 Closure Lawsuit
Oct 23 2020 // A judge in Durham County, North Carolina has handed down what may be the nation’s first dispositive ruling in favor of policyholders in a COVID-19 business-interruption lawsuit. Superior Court Judge Orlando F. Hudson...
Applied Underwriters Sues California Over ‘Bad Faith’ Insurer Conservatorship Plan
Oct 21 2020 // Workers’ compensation specialist Applied Underwriters is suing California Insurance Department officials to halt a state plan its says would force its workers’ compensation partner California Insurance Co....
California Commissioner Asks Insurers to Cover Wildfire Losses Sans Home Inventory
Oct 19 2020 // California Insurance Commissioner Ricardo Lara is asking insurers to help wildfire survivors by providing up to 100% of personal property coverage limits without a detailed inventory to those who suffered a total loss of...
Louisiana Insurance Commissioner: Pay Only 1 Hurricane Deductible Per Season
Oct 8 2020 // Louisiana’s single season named-storm/hurricane deductible law prohibits a homeowner from paying more than one named-storm/hurricane deductible in the same hurricane season, the state insurance department is...
Top 10 Reasons P/C Insurers Run Afoul of Regulators’ Market Conduct Exams
Oct 8 2020 // Claims errors continue to be the most frequent reason that property/casualty insurers are cited by regulators when responding to market conduct complaints or during routine examinations, according to a report by Wolters...
P/C Mutual Insurers Improved Underwriting in 2019: AM Best
Oct 5 2020 // Top 10 Hold 72% of Market: AM Best Despite a highly competitive property/casualty insurance industry and pressures on operating performance, U.S. mutual insurance companies reported continued improvement in underwriting...
California Commissioner Asks Insurers to Cover Wildfire Losses Sans Home Inventory
Oct 2 2020 // California Insurance Commissioner Ricardo Lara is asking insurance companies help wildfire survivors by providing up to 100% of personal property coverage limits without a detailed inventory to those who suffered a total...
P/C Mutual Insurers Improved Underwriting in 2019; Top 10 Hold 72% of Market: AM Best
Sep 22 2020 // Despite a highly competitive property/casualty insurance industry and pressures on operating performance, U.S. mutual insurance companies reported continued improvement in underwriting performance in 2019 and managed to...
Insurance Advisory Organization’s Pandemic Endorsement Approved by 6 States
Sep 22 2020 // AAIS (the American Association of Insurance Services) has received approval from six state insurance departments for its health-emergency policy endorsement, clarifying coverage and cancellation provisions in the wake of...
Florida’s Citizens Urges Insureds to Avoid Fraud, Scams After Hurricane Sally
Sep 18 2020 // In an effort to help insureds avoid falling victim to scams and abuse, as well as to speed up the claims process, Citizens Property Insurance Corp. is urging its policyholders to “Call Citizens First” as they...
