Director Scott Richardson and staff from the South Carolina Department of Insurance will meet with Charleston area residents to discuss coastal insurance issues on June 12 to discuss the status of the state’s coastal insurance market place. The public meeting …
As the nation braces for the hurricanes, wildfires, tornadoes and floods that accompany the spring and summer disaster season, nearly half of U.S. consumers are insufficiently prepared — in terms of their insurance coverage — to deal with potential losses, …
Catastrophe Modeling Pioneer Clark Analyzes an Industry She Helped Create Karen Clark, former CEO of AIR Worldwide, now heads her own firm Karen Clark & Co. (www.karenclarkandco.comwww.karenclarkandco.com). She made the statement, “garbage in, gospel out,” at the European Insurance Forum …
A federal judge in New Orleans says insurance companies don’t have to tell clients who buy the maximum federal flood insurance about additional coverage available from other companies. U.S. District Judge Patricia Minaldi dismissed the Cameron Parish School Board’s lawsuit …
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A-‘ (Excellent) from ‘B++’ (Good) and issuer credit rating (ICR) to “a-” from “bbb” of Safe Insurance Company of Huntington, W.Va. with stable outlooks. “The ratings reflect Safe’s strong …
Coastal communities in Massachusetts should encourage property owners to elevate their buildings to avoid future flooding and storm surge damage, according to officials advising on storm mitigation efforts. In addition to protecting the structures, raising houses above floodwaters can save …
Minnesota Gov. Tim Pawlenty signed a bill on May 14th that requires insurance companies and agents to notify homeowners annually if their insurance policies do not include flood coverage. The required notice will say the homeowners have the right to …
Adding wind coverage to the current federal flood and wind insurance program could benefit some policyholders and market participants but would also involve trade-offs, says a new government report. While current legislation to add wind to the flood program would …
The U.S. Senate officially rejected a bid by Gulf state senators to add wind coverage to the financially strapped federal flood insurance program. Lawmakers from Louisiana and Mississippi cited problems that occurred after Hurricane Katrina and other big 2005 storms …
Adding wind coverage to the current federal flood and wind insurance program could benefit some policyholders and market participants but would also involve trade-offs, says a new government report. While current legislation to add wind to the flood program would …
