August 23, 2013
Florida’s state-backed property insurer has tapped a Connecticut-based firm to operate a new clearinghouse where new and renewal policyholders will be shopped to the private market before they are eligible for coverage. The Citizens Property Insurance Corp. board of governors …
August 22, 2013
South Carolina’s high court has found that a general contractor cannot sue a subcontractor for faulty workmanship in instances where the subcontractor is in essence doing work on the contractor’s behalf. The South Carolina Supreme Court handed down the ruling …
August 21, 2013
Florida’s state-backed property insurer is seeking a statewide average 6.6 percent increase in homeowners’ rates and a 24.8 percent increase in sinkhole rates while citing reduced losses and an improved financial position. Citizens Property Insurance Corp., which insurers 1.2 million …
August 16, 2013
Florida’s employers can look forward to little, if any, change in their 2014 workers’ compensation rates as the state’s industry-backed rating agency has filed for a modest statewide average 1 percent rate increase. The industry’s National Council on Compensation Insurance …
August 12, 2013
Georgia’s high court has handed contractors and their clients a victory by expanding the scope of a contractor’s general liability policy so that it includes damage due to a contractor’s faulty construction. The ruling grants homeowners greater rights to recoup …
August 9, 2013
Florida’s top financial officer is questioning regulators on why reports of significantly lower reinsurance costs worldwide are not translating into reduced premiums for homeowners around the state. Chief Financial Officer Jeff Atwater in a letter this week to Insurance Commissioner …
August 5, 2013
North Carolina’s two residual homeowners insurance markets have jointly issued $500 million in pre-event catastrophe bonds to ensure they have enough money on hand to quickly pay claims following hurricanes and other named storms. The North Carolina Joint Underwriting Association …
August 5, 2013
Florida’s high court has ruled that insurers under a 2008 law must pay a contractor’s overhead and profit as part of the expense of repairing a homeowner’s property despite repairs not having been made. The Florida Supreme Court ruled in …
July 24, 2013
Florida’s high court has ruled that insurers under a 2008 law must pay a contractor’s overhead and profit as part of the expense of repairing a homeowner’s property despite the fact the repairs may not have been made. The Florida …
July 16, 2013
North Carolina’s two residual homeowners insurance markets have jointly issued $500 million in pre-event catastrophe bonds to ensure they have enough money on hand to quickly pay claims following hurricanes and other named storms. The North Carolina Joint Underwriting Association …