Hurricane insurance lesson learned by residents of Connecticut

September 5, 2012April 30, 2013

Tropical Storm Irene had shoreline residents discovering things the hard way. For residents of Connecticut, who live along the shoreline, if previous storms had not taught them the lesson about the necessity for hurricane insurance, it was likely learned as a result of Tropical Storm Irene. The first issue was the complexity of a large type of claim on a policy. When a claim must be made on hurricane insurance, if it is a very large one, there are many issues that must be considered and this can make for…

Connecticut regulators make changes to the guidelines for hurricane deductibles for the sake of consumers

October 14, 2011May 7, 2013

The recent events surrounding Augusts’ Hurricane Irene has prompted insurance regulators in Connecticut to take a bold stance in determining how insurers should respond to future hurricanes. The state’s Department of Insurance has begun revising a number of guidelines governing the insurance industry’ sometimes suspect hurricane deductibles. Regulators began reviewing changes to the system shortly after the storm, but only now have they reached a consensus on how far to take them. The Department of Insurance is looking to change the guidelines to make them more consumer friendly. Hurricane deductibles…