Live Insurance News

Insurance news from Superstorm Sandy continues with legal battles

April 24, 2013April 22, 2013 G. Turner

Hurricane Sandy Damage flood Insurance surcharge

Victims of the storm are seeking lawyers to help them when they head to the courts. Victims of Superstorm Sandy are continuing to face considerable challenges which are making insurance news headlines as these individuals and families are now seeking legal representation in order to help them to obtain the funds that they feel are owing to them from their insurers. In many cases, it is not that the insurers haven’t paid out, but that the policyholders feel that damage was underestimated. One instance of this type of insurance news…

Homeowners insurance regulations bill altered by a Senate committee

April 18, 2013April 30, 2013

The changes were made following Waldo Canyon fire victim testimony by the members. A Colorado Senate committee heard the testimony of victims of the Waldo Canyon wildfires two weeks ago and has now made a few small changes to some of the homeowners insurance industry regulations proposal. The committee took the time to take the concerns of the witnesses under consideration before continuing. According to Senator Jeanne Nicholson (D-Black Hawk), “We wanted to take some time to consider some of the concerns that were raised by some of the witnesses…

Homeowners insurance bill swoops through Florida Senate

April 17, 2013April 16, 2013 Nordstrom

Bill addressing homeowners insurance races through Florida Legislature Last week, a controversial legislation concerning homeowners insurance flew through the Florida Senate. The legislation received strong backing from the state’s lawmakers, whom have become exceedingly involved in the problems surrounding the state’s Citizens Property Insurance organization. The state-run insurer, which accounts for the majority of the homeowners insurance policies in Florida, has been, thus far, unable to address its own problems, leading lawmakers to get more involved in these issues and create legislation designed to put some of these problems to…

Lawmakers looking to get involved in homeowners insurance in Florida

April 15, 2013April 14, 2013 Logan B.

Homeowners insurance may soon become a political battlefield The drama surrounding Florida’s Citizens Property Insurance continues to unfold as state lawmakers begin to play a larger role in the state-run insurers struggle to free itself from the financial burdens of its past. The state-run insurer was recently rattled by an onslaught of corporate scandals that aroused the ire of the Florida Legislature. The insurer claims that it has successfully reduces its risk exposure over the past year, but lawmakers are seemingly unconvinced by the organization’s claims. It is becoming increasingly…

Homeowners insurance premiums expected to skyrocket in some U.K. regions

April 15, 2013April 13, 2013 G. Turner

The price of coverage is expected to soar in areas where floods are known to occur. Properties that are located in areas that are at risk of flooding in Scotland could soon be facing a considerable increase in the cost of their homeowners insurance now that a deal that had been in place to guarantee affordable protection is nearing its expiration date. Homes impacted by the winter floods, recently, or that are located in areas of increased risk are being cautioned. The next time that homeowners insurance policies are renewed…