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Homeowners insurance company faces class action lawsuit

March 4, 2013April 30, 2013

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Citizens in Florida is facing backlash from the rules change to its wind mitigation. State backed homeowners insurance company, Citizens, could soon be facing a class action lawsuit which has been filed against it, alleging that the insurer deliberately deprived its policyholders of the windstorm mitigation discounts that it had previously agreed to provide. What is being called an arbitrary re-inspection initiative has taken the previously applied discounts away. According to the estimates of the lawyers, the elimination of the windstorm mitigation discounts as a result of the re-inspection program…

Insurance news on the celebrity front includes major lawsuit from Alexia Echevarria

January 23, 2013April 30, 2013

Insurance industry news Lawsuit

The celebrity from Real Housewives has sued her broker for $2 million in medical bills. Alexia Echevarria, a star of Real Housewives of Miami is making insurance news by suing her broker for $2 million, stating that she had been “inundated with medical bills” following a car crash in which her son, Frankie, was severely injured. The celebrity has filed her lawsuit within a Florida court against the company through which the policy was sold. Garcia Lorenzo & Associates has had the lawsuit filed against it, making this insurance news…

Disability insurance could cost Canadians $600 million to repay veterans

October 5, 2012April 30, 2013

Cost sharing health plan makes insurance news

The ruling to compensate disabled vets for their military pensions comes with a high price. The recent ruling that the Canadian government must compensate veterans with disability insurance payments as a part of their military pensions with retroactive payments that span back nearly four decades could be an extremely costly one. The internal estimates produced by the government have shown that this could cost $600 million. They have also stated that this figure may be on the low side of the scale. At the end of last week, the attorneys…

Insurance news spotlights U.S. Supreme Court major review of lawsuits

September 7, 2012September 6, 2012 Julie Campbell

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Class action cases are under the scrutiny of the top court in the country. The U.S. Supreme Court is making insurance news with its most recent agreement to take new class action lawsuit constraints into consideration, after having accepted the appeal from an Arkansas Travelers Cos. unit dispute regarding homeowners policy claims. The focus is on a plaintiff attorney tactic that the U.S. Chamber of Commerce is calling abusive. The court is taking a closer look at the technique often used by the lawyers of the plaintiffs in class action…

Insurance news story about Progressive should be seen as a warning to insurers

August 29, 2012August 29, 2012 Julie Campbell

Experts now wonder if this social media fail will generate changes in the industry. In an attempt to save $75,000, Progressive Corp. has now found itself at the sour end of an insurance news story that has brought the rage of thousands, if not millions, of people against it. Other insurers who witnessed the story may soon be making changes to prevent this from happening to them. This type of insurance news, spread throughout social media, can be exceptionally damaging to the reputation of a company. This may mean that…