Live Insurance News

Insurance news from fertilizer plant explosion includes high initial estimates

April 27, 2013April 25, 2013 G. Turner

The most recent figures say that the damages in West could be worth up to $100 million. According to the latest insurance news estimates from an industry group, the damage that resulted from the fertilizer plant explosion in West, Texas, could reach as high as $100 million. This estimate includes not only the damage to the plant, itself, but also to the nearby homes. According to the insurance news release from a spokesperson for the Insurance Council of Texas, Mark Hanna, there were approximately 140 homes that were destroyed in…

Earthquakes send ripples through homeowners insurance industry in Oklahoma

April 25, 2013April 30, 2013

Small quakes cause some concern in the homeowners insurance space A recent outbreak of earthquakes in Oklahoma has caused some waves in the homeowners insurance sector. Over the past month, several small earthquakes have been reported throughout the state. In many cases, these quakes are not large enough to cause any significant damage, often only knocking pictures or books from shelves. According to the U.S. Geological Survey, these quakes range in magnitude from 2.8 to 4.3, barely enough to be felt by anyone, but enough to cause some concern. Frequency…

Homeowners insurance reforms expected in Colorado

April 25, 2013April 23, 2013 G. Turner

The wildfires from last year have spurred lawmakers to consider changes to the current coverage. Lawmakers in Colorado are taking a new look at homeowners insurance which have been based on the complaints that have been collected from property owners over the last months since the wildfires in the state. In fact, they are now closing in on an agreement on a number of different changes to the coverage. The wildfires in Colorado brought a number of homeowners insurance issues into the spotlight and those in charge of regulations did…

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…

New Jersey insurance industry showing signs of change in wake of Hurricane Sandy

April 23, 2013April 22, 2013 Logan B.

Insurance industry reforming after disaster Nearly six months after Hurricane Sandy struck New Jersey, the effects that the storm has had on the insurance industry are beginning to manifest. New Jersey is not expressly exposed to natural disasters like tropical storms and hurricanes, but the state has suffered from a direct hit from Hurricane Sandy, as well as tropical storm Irene some time before that. The damage caused by the disasters was immense, leaving thousands without homes and businesses without property. The insurance industry has worked to pick up much…