Hurricane Sandy spawns class-action lawsuit against insurers

New Jersey homeowners insurance law

New Jersey victims file suit against insurers in wake of Hurricane Sandy Hurricane Sandy continues to cause problems along the East Coast. Though the storm is long over, its effects can still be felt in numerous states. Insurers may soon feel another financial impact as a result of the storm, but it will be coming from consumers instead of the storm itself. Hurricane Sandy victims from New Jersey have filed a class-action lawsuit against nine insurance companies. The suit claims that these insurers denied claims through the misinterpretation of something…

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Florida insurer asking for 27% rate hike

As insurers all over the country continue to receive criticism from policyholders, and even then federal government, many of them continue to seek rate increases. Fidelity National Property and Casualty Insurance of Jacksonville, Florida, is proposing a rate hike of 27%. The proposal is a move to recoup the monetary losses of last year, according to vice president John Giorgianni. State regulators are currently reviewing the proposal and it may be subject to additional review by the Department of Health and Human Services. Giorgianni insists that the rate hikes is…

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