Tag: Oklahoma insurance

Auto insurance scam involved former Oklahoma police officer

Julie Campbell
law

The ex-cop has now been sentenced to for having taken part in this coverage fraud scandal. A former police officer has now been sentenced in a case involving auto insurance fraud, requiring the participant in this scam to have to serve ten days of imprisonment on the weekends, in addition to three years of supervised probation. This, according to a Western District of Oklahoma U.S. Attorney, Sanford C. Coats. Beyond the imprisonment and supervised probation, the former officer, Clinton Ivan Rutledge, from Woodward, Oklahoma, is also being required to pay…

Read More

Tornado insurance claims head to court in Oklahoma

G. Turner
tornado insurance Oklahoma

At least 28 homeowners who were victims of twisters are suing their insurers for inadequate payments. After devastating twisters ripped their way through Oklahoma, at least 28 homeowners have found that their tornado insurance payments have not been adequate to allow them to rebuild their homes or to move on to new ones equivalent to what they had before their lives were turned upside down. The complaint isn’t that the payments aren’t being made, but that they aren’t paying enough to compensate for the damage. One of the homeowners taking…

Read More

Earthquake insurance recommendations made following recent activity

Julie Campbell
Oklahoma Earthquake Insurance

The tremors that have been occurring in Oklahoma have caused officials to discuss coverage. There have been a number of homeowners across Oklahoma that have been taken completely off guard when their homes were rocked by tremors, and they are now starting to look into earthquake insurance, particularly as state and industry officials have started to talk about the coverage. There are a number of different things that should be taken into account when shopping for these policies. Experts in and representatives of the earthquake insurance industry have been speaking…

Read More

Insurance industry feels financial impact of Oklahoma tornados

Marc
Oklahoma tornado damage - homeowners insurance industry

Insurance industry sees payments top $1 billion The Oklahoma Department of Insurance has released the financial information concerning a powerful tornado outbreak that struck the state in May of this year. The information suggests that the tornado outbreak may be one of the most costly natural disasters in the state’s history. Insurance Commissioner John Doak claims that the financial impact of these tornadoes is staggering and notes that the rebuilding effort for communities stuck by tornadoes has only just begun. The cost of these disasters could have a significant impact…

Read More

Tornado insurance claims in May broke the 75k mark

H. Cutner
Tornado insurance

The payments, so far, have reached almost $688 million for homes and twisters damaged by tornadoes. The claims that were made related to the twisters that occurred in Oklahoma over the month of May have now broken the 75,000 mark, to the point that insurers have now made almost $688 million in tornado insurance payments. On June 26, the number of claims that had been filed for this type of damage reached 75,758 in the state. On that same date, the payments made on tornado insurance claims in Oklahoma for…

Read More