Live Insurance News

New York state pushes insurance companies to provide faster storm claim response

September 9, 2021September 8, 2021 Nordstrom

Insurance companies - Home Insurance Claim

The remnants of Hurricane Ida brought record-breaking rain, flooding large parts of NYC. Insurance companies are braced for a massive wave of claims in New York following record-breaking rains left behind by the remnants of Hurricane Ida. State officials are calling for insurers to step up their processing, to help flood victims to recover more quickly from the damage they suffered. Large areas of New York City were submerged by the massive rainfall that came on fast. The New York State Department of Financial Services, which regulates insurance companies in…

Mercury Insurance prepares to assist Dixie Fire victims with policies

August 16, 2021August 12, 2021 Marc

The insurer published a news release confirming its readiness to help displaced or evacuated policyholders. As the situation in California worsens, Mercury Insurance issued a news release confirming to its policyholder Dixie Fire victims that it is ready to help them. As local authorities issue mandatory evacuation orders for residents, policyholders have support. The insurer is reminding Dixie Fire victims who have homeowners’ or renters’ coverage that they can call for support if they have been displaced or evacuated. Representatives are ready to help address covered claims while still following…

Allstate catastrophe losses for February 2021 announced

March 22, 2021March 19, 2021 Nordstrom

Allstate catastrophe losses - ice on house

The insurance giant has published its estimates for last month, reaching $577 million, pre-tax. The Allstate catastrophe losses for February 2021 have been released, estimating that they reached about $577 million, pre-tax, or $456 million, after-tax. There were two primary events that contributed to the insurer’s totals for last month. The two events creating the majority of the Allstate catastrophe losses in February reached $590 million, pre-tax ($466 million, after-tax). That said, those figures were also partially offset by prior period reserve re-estimates that were favorable. Of the two events…

Unpaid insurance claims leave Puerto Rico with a massive $1.6 billion disaster bill

February 11, 2020February 10, 2020 H. Cutner

The U.S. territory is wrapped in accusations of fraud and lawsuits against home insurers. Cities and homeowners alike are facing widespread unpaid insurance claims following several disasters to strike Puerto Rico. Some claim they’re receiving unfair low payments while others have watched insurers shut down. Fraud accusations and lawsuits are taking flight in every direction as many face unpaid insurance claims following the earthquakes, hurricanes and other disasters. Puerto Rico has been struggling with one catastrophe after the next. The island has been struck by hundreds of earthquakes over a…

Thousands of tornado insurance claims filed after Ohio devastation

June 5, 2019June 3, 2019 Nordstrom

Tornado Insurance Claims - Disaster left after Tornado

Local insurers and agents have been assisting policyholders with damaged homes, vehicles and businesses. Policyholders in Ohio are encouraged to begin filing their tornado insurance claims following the storms last week. The twisters hit on Monday night and damaged homes, cars and businesses. Insurance companies are expecting thousands of claims and agents are bracing to assist them all. Insurers such as Allstate, State Farm, and Farmers have been fielding ceaseless client calls. “When the devastation is this much, it’s like nothing any of us in our area has really seen,”…