Contractual Limitations Provisions in Insurance Policies: What Every Agent and Broker Needs to Know Generally, the statute of limitations for the breach of an oral agreement is four years. However, a shorter period is mandated by California Insurance Code Section …
A new federal study of the New Madrid Seismic Zone predicts Tennessee would see the highest level of damage if there is a 7.7 magnitude earthquake. The Federal Emergency Management Agency released the two-year study as part of the Catastrophic …
The Southern California wildfires are burning a bigger hole in California’s budget, adding to the state’s $11.2 billion deficit, the governor’s finance spokesman said. The state has spent $305 million on emergency firefighting since the start of the fiscal year …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of UK-based Travelers Insurance Company Limited (TIC). The outlook for both ratings remains stable. Best said: “The ratings continue to reflect …
People in western Maine were given a slight jolt Thursday when a minor earthquake struck in Rumford. According to the Weston Observatory at Boston College, the earthquake happened at 5:26 a.m. and had a magnitude of 2.2. Michael Hagerty of …
The U.S. Geological Survey says a small earthquake occurred in central Arkansas. The quake, of preliminary magnitude 2.6, occurred at 7:47 a.m. Nov. 15, 14 miles north of Hector in Pope County. A dispatcher with the Pope County Sheriff’s Office …
Wind Pool Modernization, Better Building Code Enforcement and Carrier Recruitment Efforts Begin to Pay Off Back in January, when Mike Chaney was getting ready to be sworn in as Mississippi insurance commissioner after his November victory at the polls, he …
$11.5 Billion The amount U.S. property/casualty insurers are expected to pay homeowners and businesses for third-quarter property losses resulting from a total of 11 catastrophes in 22 states, according to preliminary analysis by ISO’s Property Claim Services (PCS) unit. PCS …
Financial Myth “This is a financially dangerous myth. … Just because the resale value of your home may have declined does not mean that the cost to rebuild it has also dropped—and that should be your target. ” —Insurance Information …
If a magnitude 7.0 earthquake occurred on California’s Hayward Fault, it would result in economic losses between $210 billion and $235 billion, with only up to $30 billion likely to be insured, according to a study by Newark, Calif.-based Risk …
