Live Insurance News

Mississippi homeowners insurance companies targeted by new legislation

February 4, 2014February 1, 2014 Logan B.

Mississippi Homeowners Insurance Industry

Lawmakers seek out answers concerning troubling insurance trends Mississippi lawmakers may soon pass legislation that will require the state’s property insurance companies to disclose how much they collect in premiums and how much money they spend on claims. This legislation would target insurers that provide coverage for the damage associated with hurricanes. Most insurance companies only provide coverage for wind damage, as flood insurance is primarily a matter for the federal government to handle. State officials suggest that insurers are not always straightforward with the information they provide concerning damage…

Citizens launches new initiative to shed homeowners insurance policies

January 31, 2014January 28, 2014 S.Vagus

Florida homeowners insurance, Citizens Property

New initiative may help Citizens send policies to private companies Florida’s Citizens Property Insurance has launched a new initiative that is designed to further depopulate itself of costly homeowners insurance policies. The state-run insurer had been suffering from serious financial issues in the past, which are associated with the state’s exposure to natural disaster and the disasters that had visited the state in the past. Citizens has overcome many of its past issues, but is still working to shed policies and the organization is encouraging policyholders to find coverage from…

Flood insurance increase delays moved forward by Senate

January 30, 2014January 31, 2014 Julie Campbell

Bipartisan legislation for holding back rate hikes is another step closer to being implemented. This week, bipartisan legislation has made its way through the Senate which will help to place a delay on the premium hikes that will be experienced by hundreds of thousands of flood insurance customers who reside in low lying and coastal areas. The vote of 86 to 16 showed that the support in the chamber that is powerful enough to avoid filibuster. It is more than likely that this flood insurance delay will be passed by…

Homeowners insurance premiums headed downward

January 30, 2014January 28, 2014 G. Turner

From the start of this year, it is clear that the direction rates are taking overall is downward. According to a recent rate report that has been released, homeowners insurance premiums are among the forms of coverage that are experiencing declines as of the start of 2014. This report took into account the 12-month premiums that are paid by consumers in the United States. By the close of 2013, the average annual homeowners insurance premium in the United States had fallen to $822, when compared to where it had been…

North Carolina homeowners insurance rate increase resistance building

January 27, 2014January 25, 2014 H. Cutner

Residents of the state are becoming frustrated and angry about the spike of up to 25 percent. As the cost of North Carolina homeowners insurance comes closer to its August increase of an average of 25 percent, residents are keeping a careful watch on the regulator in the state, which held a public hearing on Friday to give these customers the opportunity to voice their opinions on the prospect that they will be seeing their premiums skyrocket this year. The hearing fell three weeks after the insurers in the state…