Whether the nation needs a federal or other governmental program to deal with insurance costs and availability for natural catastrophes in U.S. coastal states was the central question at a public hearing in Mobile, Ala., Monday. Dozens of citizens gathered …
Florida Insurance Commissioner Kevin McCarty touted the need for a comprehensive national plan, and a national catastrophe fund at the National Association of Insurance Commissioners’ (NAIC) Southeast Zone meeting in Mobile, Ala., Monday. Although the focus of the meeting was …
Nearly $9 million has been approved by various state and federal agencies to elevate 76 homes in Jefferson Parish, La., according to the Federal Emergency Management Agency (FEMA). The Louisiana Recovery Authority (LRA), the Governor’s Office of Homeland Security and …
A federal appeals court sided with Nationwide Mutual Insurance Co. on Aug. 30 in a key case related to hundreds of lawsuits over damage caused by Hurricane Katrina. The 5th U.S. Circuit Court of Appeals in New Orleans ruled that …
A preliminary report from the federal government found no evidence to support allegations that private insurers improperly shifted wind damage claims from Hurricane Katrina onto the federal government’s flood insurance program. At the same time, the Department of Homeland Security …
The company said the policy’s anti-concurrent causation provision means that if a policyholder has wind coverage but not flood insurance, then the company is not responsible for damage from a combination of wind and water. Federal appeals court sides with …
Report: Insurers did not shift wind claims p:”Our sample revealed no evidence that wind damages were improperly attributed to flooding,” the Department of Homeland Security reported after reviewing 98 flood claims. A preliminary report from the federal government found no …
The federal government may be overpaying private insurers for their operating costs associated with the National Flood Insurance Program (NFIP), a recent report said. The government’s payments to insurance companies for operating costs ranged from “more than a third to …
Declarations Plumped up payments “The partnership has, over time, relieved FEMA of the need to develop, hire, and train an in-house corps of sales agents, adjusters, and others to administer flood insurance.” — A report from the Government Accountability Office …
Plumped up payments “The partnership has, over time, relieved FEMA of the need to develop, hire, and train an in-house corps of sales agents, adjusters, and others to administer flood insurance.” — A report from the Government Accountability Office analyzing …
