Homeowners insurance litigation measure approved in Texas

Texas Homeowners Insurance

Homeowners will have more trouble filing lawsuits against homeowners insurance companies Homeowners in Texas may find it more difficult to file lawsuits against insurance companies for unpaid claims, due to a measured approved by the state Senate. The Senate has voted to approve a measure that is meant to address the issue of homeowners insurance lawsuits, which lawmakers believe are becoming a significant problem for the state. The Senate is divided on the issue, with lawmakers disagreeing on how it should be resolved, but the measure managed to pass despite…

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Federal agency is slow to act on controversial homeowners insurance coverage

homeowners insurance

Federal Housing Finance Agency has not taken action on force-placed insurance The Federal Housing Finance Agency has pledged to make changes to a controversial type of homeowners insurance coverage, but has yet to actually take any action on the matter. The agency’s director told the Senate Banking Committee this week that the agency was making progress in addressing the issue of force-placed insurance, but none of the agency’s plans have gone into effect yet. Force-placed insurance has become a controversial topic in the U.S., with many consumers and state officials…

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Mississippi homeowners insurance companies targeted by new legislation

Mississippi Homeowners Insurance Industry

Lawmakers seek out answers concerning troubling insurance trends Mississippi lawmakers may soon pass legislation that will require the state’s property insurance companies to disclose how much they collect in premiums and how much money they spend on claims. This legislation would target insurers that provide coverage for the damage associated with hurricanes. Most insurance companies only provide coverage for wind damage, as flood insurance is primarily a matter for the federal government to handle. State officials suggest that insurers are not always straightforward with the information they provide concerning damage…

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Homeowners insurance bill filed by Florida legislator for gun owners

Florida Homeowners Insurance

This action appears to be made as a pre-emptive strike to regulate the way weapons owners are treated by insurers. Representative Matt Gaetz has now filed legislation that is designed to help to regulate how homeowners insurance companies will be able to treat gun owners, through a bill that is being viewed as a form of pre-emptive strike in Florida. At the moment, application for home coverage do not ask whether or not a gun will be on the property. Within the state of Florida, when a homeowners insurance policy…

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Homeowners insurance bill in Florida signed by Governor Scott

Florida homeowners insurance, Citizens Property

This will help to reform Citizens so that it will be able to further reduce its massive size. Governor Rick Scott has just signed a Florida bill into law which will allow a huge number of changes to be made to Citizens, the largest homeowners insurance company in the state. One of the goals of the bill is to move more of the policyholders from the state backed insurer into the private market. According to Senator David Simmons (R – Altamonte Springs), who sponsored SB 1770, “It’s a hell of…

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Homeowners insurance rate challenge partially lost by Mercury

California Homeowners Insurance

The insurer has failed to win a segment of its ongoing legal challenge in California. Mercury Insurance Group, the massive company serving California, has just lost a segment of its ongoing homeowners insurance rate legal challenge that it made against an order from state regulators. The petition to delay the decrease in the insurer’s rates which had been ordered upon them was rejected. The insurer lost their petition for the homeowners insurance rate decrease delay in the Sacramento Superior Court. The result will be that approximately 270,000 residents of California…

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New Jersey lawmakers take action on post-Sandy homeowners insurance

Homeowners insurance New Jersey

Homeowners insurance landscape changes post-disaster Last year’s Hurricane Sandy dealt a powerful blow to the Eastern U.S. The powerful storm caused significant damage to homes and other properties in several states. In New Jersey, floods causing the most damage, putting heavy strain on the Federal Flood Insurance Program, which accounts for the majority of flood insurance protections in the country. The disaster brought several problems within the insurance sector to light, causing New Jersey lawmakers to take action on the issue of homeowners insurance in order to avoid future turbulence.…

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