The parent company of Universal Property & Casualty Co., the second-largest property insurer in Florida, projects its total losses from Hurricane Ian to be about $1 billion, well below its $3 billion reinsurance coverage. The statement came a week after …
A company cannot be compelled to turn over its risk management work product that may include attorney-client information and claims investigators’ opinions, the Alabama Supreme Court decided. The case involved the Federal Employers’ Liability Act (FELA), which applies mostly to …
Editor’s note: This article was updated Oct. 16 to reflect additional information from Tower Hill Group and AM Best. The downgrade of one of Tower Hill’s insurance companies by AM Best financial rating firm, announced the day that Hurricane Ian …
John Gardner this week found himself in a position no insurance agent would like to be in: no office to work in, no electrical service and no internet, but with hundreds of policyholders clamoring to file claims. And nearby, his …
While some analysts are predicting that the property insurance industry will be able to manage Hurricane Ian and its estimated $50 billion in insured losses, a few are now warning that the storm could significantly erode the Florida Hurricane Catastrophe …
FORT MYERS, Fla. – Dave Lusk, who lives on San Carlos Island, sandwiched between Fort Myers and devastated Fort Myers Beach, Florida, told the story of how his daugther and her family decided to ride out Hurricane Ian in their …
The Best Agency to Work For in the Southeast for 2022 is North Carolina-based Granite Insurance Agency, an organization that is such a great place to be employed that one worker called it “life changing.” “Granite Insurance and its team …
Proving that an insured misrepresented the extent of damage from a storm may have become a little more complicated for Florida insurance companies this year. Florida’s 5th District Court of Appeals in September reversed a trial court’s summary judgment order, …
Hurricane Ian continued to churn through central Florida Thursday morning, leaving widespread flooding and wind damage in its wake. It was too early to know the extent of property insurance claims from the storm, although a few analysts and officials …
Auto and property insurers in the last three months have settled class-action lawsuits in Southern states alleging the carriers systematically underpaid claims. A federal appeals court in Georgia has decided a similar issue in favor of the insurer, noting that …
