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Louisiana recovers funds from homeowners insurance providers, as well as others

January 27, 2016January 26, 2016 S.Vagus

Citizens Louisiana homeowners insurance

State agency recovers $5.1 million in insurance claims throughout 2015, resolving consumer complaints The Louisiana Department of Insurance has announced that it has recovered some $5.1 million in insurance claims in 2015. Insurance Commissioner Jim Donelon notes that state regulators have been working with representatives from several insurance companies to resolve complaints associated with a wide range of coverage. The majority of the funds recovered by state regulators have been recovered from the property/casualty sector, as well as the health insurance sector. According to the Department of Insurance, more than…

Oklahoma’s homeowners insurance sector becomes shrouded in controversy

January 22, 2016January 20, 2016 S.Vagus

Oklahoma earthquake insurance coverage

Homeowners claim that insurers are refusing to cover damage caused by earthquakes Controversy has erupted in Oklahoma’s homeowners insurance sector, and earthquakes are part of the problem. Many homeowners have begun issuing complaints that their insurance providers are refusing to cover damage caused by earthquakes. Oklahoma has been rocked by quakes in recent months, with these disasters becoming somewhat more frequent over the past year. Notably, these quakes may be being caused by injection wells, which are used to extract natural gas from the earth. Even homeowners with earthquake insurance…

Homeowners insurance premiums to fall in Louisiana

January 20, 2016January 19, 2016 Marc

Citizens Insurance Louisiana homeowners insurance property

Citizens Property Insurance is making cuts to homeowners insurance premiums Louisiana’s Citizens Property Insurance has announced that it will be lowering homeowners insurance premiums beginning on June 30. The state-run agency’s board of directors voted to approve rate reductions, which may reduce the financial pressure of homeowners with coverage through the state. Citizens Property Insurance notes that the driving factor behind rate reductions is the falling cost of reinsurance. This year, the cost of the agency’s reinsurance coverage is expected to fall by as much as 5%. Average cost of…

New earthquake insurance options being offered in California

January 8, 2016January 7, 2016 Marc

oklahoma earthquake insurance industry

California Earthquake Authority launches new options to make earthquake insurance more available Homeowners in California will have more options when it comes to earthquake insurance in 2016. The California Earthquake Authority will be offering new options for consumers, allowing them to purchase more affordable insurance coverage that better suit their needs. This comes as a response to the fact that many homeowners lack earthquake insurance coverage, which can expose them to significant financial risks that they may not be able to handle on their own. Many consumers lack the earthquake…

Mississippi agency offers advice concerning homeowners insurance following recent storms

January 5, 2016January 3, 2016 Logan B.

flood homeowners insurance rates

Storms have damaged properties in some parts of the state Recent storms in Mississippi have caused problems for many homeowners, who have seen their properties damaged by the storms. The Mississippi Department of Insurance is urging those affected by these storms to file homeowners insurance claims as soon as possible. The organization is also offering advice concerning the claims filing process, and agency representatives are on hand to assist in filing claims to ensure that consumers are taken care of by their homeowners insurance providers. Consumers are being encouraged to…