June 1, 2010
The omnibus property insurance bill, SB2044, becomes law at the end of today, unless Florida Governor Charlie Crist vetoes it. Crist could sign the bill or just let it become law without his signature. But if he intends to stop …
June 1, 2010
The National Flood Insurance Program (NFIP), which expired at midnight on May 31, is not expected to be able to issue new policies for a week or longer. As reported by Insurance Journal last Friday, Congress left town for the …
June 1, 2010
Reinsurers transferred $2.35 billion in catastrophe risk to capital markets before the U.S. hurricane season that began Tuesday, higher than the $1.4 billion last year, as the catastrophe bond sector starts to resume normal issuance after the global financial crisis. …
June 1, 2010
As he hinted he would do, Florida Gov. Charlie Crist has vetoed an omnibus property insurance bill (SB2044) that the industry and even the state’s insurance commissioner had urged him to sign. Crist, who was elected governor as a Republican …
May 28, 2010
It’s been more than 1,600 days since Florida was hit by a hurricane, and that one — Wilma — walloped Natalie Premock’s home. But since then, nothing. And time has faded memories. The 31-year-old mortgage processor and her husband now …
May 28, 2010
For the fourth time in the past year, the nation’s flood insurance program will lapse because Congress has not voted to reauthorize it. That’s the latest on Capitol Hill, according to property/casualty lobbyists and other sources. As a result, the …
May 27, 2010
The threat of an above-average 2010 Atlantic hurricane season has heightened over the past month and it now promises to be “a hell of a year,” a leading U.S. forecaster said Wednesday. William Gray, the hurricane forecast pioneer who founded …
May 27, 2010
An “active to extremely active” hurricane season is expected for the Atlantic Basin this year, according to the seasonal outlook issued today by NOAA’s Climate Prediction Center – a division of the National Weather Service. Across the entire Atlantic Basin …
May 26, 2010
U.S. National Hurricane Center director Bill Read said Tuesday that earthquake-ravaged Haiti was his biggest concern as another Atlantic hurricane season gets under way. He also acknowledged that a powerful storm could wreak havoc with efforts to fight the massive …
May 26, 2010
State Farm will file a rate increase with Mississippi Insurance Commissioner Mike Chaney in the next few months. Company spokesman David Majors said that details are still being worked out. Last year, State Farm boosted rates by an average of …