Live Insurance News

FEMA official reports insurance fraud evidence

March 2, 2015March 1, 2015 Julie Campbell

New York power outage from Hurricane Sandy- Homeowners Insurance fraud Coverage

According to the “60 Minutes” news magazine, a top official has seen evidence suggesting wrongful settlement denials. A recent report from “60 Minutes”, the respected news magazine from CBS, a top official from the Federal Emergency Management Agency (FEMA) has stated that he has witnessed evidence of insurance fraud within the reports that were made to deny settlements to victims of superstorm Sandy. In an interview that was televised last night (Sunday), the official made it clear that the evidence does exist. Within the CBS program, the deputy associate administrator…

Criminal investigation launched in New York aims to bring clarity to flood insurance issues

December 24, 2014December 22, 2014 Marc

Criminal investigation will seek to uncover the issues associated with Hurricane Sandy The New York Attorney General’s Office has launched an official criminal investigation into allegations regarding government contractors and their work relating to 2012’s Hurricane Sandy. The powerful hurricane hit the state quite hard, causing millions of dollars worth of damage. The federal National Flood Insurance Program has been struggling to accommodate the cost associated with the disaster, facing allegations of rejecting claims unjustly and working with third party organizations that have mishandled insurance policies. Growing number of homeowners…

Flood insurance struggles experienced across Canada

July 25, 2013July 22, 2013 H. Cutner

Experts are saying that insurers will attempt not to have to pay, more often than not. As a growing number of regions across Canada continue to recover from various flooding events, homeowners and business owners are discovering that making successful flood insurance claims is proving to be considerably more challenging than they had anticipated. Many people feel that their insurers are wronging them when they make their initial claims. According Yahoo Finance’s Ashleigh Patterson, more often than not, flood insurance companies will try to make an attempt not to pay…

Homeowners insurance claims to be revisited in wake of Calgary floods

July 15, 2013July 13, 2013 Marc

Homeowners insurance sector sees harsh criticism come from consumers Over the past week, floods have become a major issue for the city of Calgary in Alberta, Canada. The city has fallen victim to flash floods that were caused by heavy rainfall earlier in the week. Heavy rains caused the Bow and Elbow rivers to overflow, flooding nearby neighborhoods and causing mandatory evacuations in some parts of the city. These floods became even more problematic due to sewage backups that exasperated the issue. The disaster has put a great deal of…

Flood insurance claims on their way to Canadian insurers

June 26, 2013June 24, 2013 Julie Campbell

The flooding in southern Alberta and the Calgary area may be among the most expensive natural disasters in the province. Residents and businesses in the Canadian province of Alberta are just starting to assess the damage from what is being called one of the worst natural disasters in the history of the area, and flood insurance companies are preparing for the massive influx of claims that are now on the way. The flooding that has been experienced in the region is entirely unprecedented, leaving insurers scrambling. It has been estimated…