One year after Hurricane Katrina, the insurance industry says that nearly 95 percent of homeowners insurance claims have been settled. Insurance companies have paid billions in storm damage claims, and the vast majority of homeowners in both states say they …
Hurricanes Katrina and Rita exposed many misconceptions and misunderstandings that consumers had, or claimed to have had, with respect to their insurance coverage for hurricane related damage. The aftermath of these two hurricanes also revealed that some insurance professionals are …
Allstate drops Alaska earthquake coverage Nearly 7,000 Alaskans will lose their earthquake insurance as their policies come up for renewal. Allstate Insurance Co. is cutting its optional earthquake coverage nationwide, and will drop this plan as policies come up for …
Wait and see “The LAAA is anxiously waiting to see whether the new limits on territorial weighting will result in suburban and rural drivers ‘subsidizing’ premiums of urban and inner city drivers, as some groups have claimed, or if drivers …
When looking at credit scoring, the affordability and availability of health care, or even the construction liability market, states often are better-equipped than the federal government to address the issues, according to Oregon’s Insurance Administrator Joel Ario. After all, states …
Most Americans favor public policies that could help to mitigate the damage caused by catastrophic natural disasters before they happen, but many Americans remain unprepared for a disaster in their own homes and communities. Nine out of ten adult Americans …
Like insurance commissioners in other states, Arkansas Insurance Commissioner Julie Benafield Bowman, is keeping an eye on catastrophe issues and the availability of insurance related to them. Unlike commissioners in Arkansas’ neighboring states of Texas and Louisiana, however, her concern …
Commercial and industrial property insurer FM Global announced the private placement of a second US$300 million catastrophe bond to protect against the consequences of unusual earthquake activity in the Pacific Northwest region of the United States and Canada. The Company …
Nearly six in 10 large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2005, a dramatic increase from the 2003 average of 27 percent and up from 50 percent in 2004. Meanwhile, the cost of property …
Los Angeles based Heritage General Agency has added a new carrier for homeowner coverage in California. Ed Galvez, personal lines specialist, will be the contact person for this coverage. This is a semi-exclusive program to Heritage General from a stable, …
