A family devastated by the Mother’s Day flood that inundated their home along the Mousam River in Kennebunk, Maine, says errors in federal maps prompted them to forgo the purchase of flood insurance, a decision that came back to haunt …
A look at policy buyback settlements Over the last decade, I have participated in the drafting of dozens of settlement agreements between carriers and insureds commonly called “buybacks of insurance” or simply “buybacks.” These settlements usually take place where there …
Just because some individuals purchase policies over the Internet doesn’t mean that everyone is similarly inclined. Many personal lines prospects simply aren’t comfortable buying their insurance online or over the phone, at least not yet. This uneasiness gives local-only agents …
The estate of NFL Hall of Fame center Mike Webster is entitled to collect more than $1.5 million in disability benefits because brain damage left him unable to work following his football career. A three-judge panel of the 4th U.S. …
Insurance agents want to avoid litigation, but it is not always possible. When agents become involved in litigation in federal court, it is important for agents and their attorneys to understand the new Federal Rules of Civil Procedure governing electronically …
Perceived risk drives the market for directors and officers liability insurance. Even before the Enron crisis, it was becoming much more difficult for financial institutionss to obtain affordable D&O insurance. Enron not only exacerbated existing trends in the marketplace; it …
The family of a New Hampshire man killed in a drunken driving crash two years ago is suing the state Liquor Commission and the woman who owns the home where his friends were drinking. Randy Holmes, 24, was a passenger …
55% The rate hike that Florida’s insurer of last resort, Citizens Property Insurance Corp., decided to delay a vote on, following requests from lawmakers to wait until after the January special legislative session. 13,000 The number of free home inspections …
Stock Prices: Stock prices have varied year-to-date among brokers. Brown & Brown Inc.’s (NYSE:BRO) stock was down 4.4 percent through Nov. 30, 2006, while Hub International Ltd.’s (NYSE:HBG) stock was up 19.2 percent for the same time period. Holding the …
Tort reform impact “It’s difficult to say whether tort reform measures have impacted this slow down in tort costs growth. We have yet to see what, if any, impact the class action reform legislation that was passed in February 2005 …
