State Farm Fire & Casualty Co. paid $250,000 to settle a lawsuit brought by a Biloxi, Miss. couple over damage to their home from Hurricane Katrina in 2005. Terms of the settlement were not disclosed Sept. 15 in U.S. District …
Hawaii Insurance Commissioner J.P. Schmidt announced a new insurance option for homeowners; effective Sept. 22, 2008, Universal North America Insurance Co. will offer homeowners (including hurricane option), dwelling, fire, and flood policies in the state, with automobile coverage expected to …
As Hurricane Ike barrels over Cuba and heads toward the Gulf of Mexico, it has the potential to become the storm that insurance companies in Texas have feared most, according to the Insurance Council of Texas. As of Sept. 9, …
A catastrophic risk management company says private insurers could face damages from Hurricane Gustav between $4 billion and $10 billion. Newark, California-based Risk Management Solutions said on September 2 that the estimate included damage to the offshore petroleum industry and …
South Carolina congressman Henry Brown says his constituents have spoken and he has listened. The Charleston Post and Courier reports Brown has killed a bill to allow a section of Kiawah Island to qualify for federal money for roads, flood …
Hurricane Gustav, which came ashore southwest of New Orleans on Monday morning, is expected to trigger significant insurance claims but far less than record-setting Katrina did three years ago. “This is a significant, catastrophic event, but insurers anticipate these, and …
Hurricane Gustav could trigger insurance claims of up to $10 billion, according to early computer-modeled estimates of damage from the storm, but at least one analyst thinks the final tab could be lower. Gustav, which made landfall southwest of New …
$15 Million Iowa officials estimate it will cost $15 million to bring the state up to speed on flood plain maps. Only 50 of Iowa’s 99 counties have complete maps that meet federal standards. The outdated or incomplete maps are …
Taking the 5th “Has it been your custom and habit in prosecuting litigation to have Senator Lott contact and encourage witnesses to give false information?” —State Farm Fire & Casualty Cos. attorney Jim Robie cross-examining Zach Scruggs, son and law …
The Florida Office of Insurance Regulation reported the latest claims tallies as of today (Aug. 29) for five of the state’s highest volume insurers. As of 9 a.m. EDT, state-backed Citizens Property Insurance Corp. reported a total of 3,118 homeowners’ …
