Tag: wind insurance

Homeowners insurance industry officials recommend that consumers review coverage

Marc
Hurricane Isaac Homeowners Insurance Industry Damages

In light of the current hurricane season predictions, it may be wise for property owners to review their policies. The homeowners insurance industry has recently released a number of statements recommending that consumers take a moment to review the coverage they have so that they understand the type of coverage that will be available to them throughout the current hurricane season, which is expected to be an active one. This is a practice that insurance companies typically recommend on an annual basis, but reminders may help. According to the homeowners…

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Atlantic hurricane season starts today and may be an active one

Julie Campbell
insurance news - atlantic hurricane season

North America could be in for a more active storm season in 2016 than has been the case for the last few years. The North American east coast may be getting itself ready for activity this Atlantic hurricane season, which means that residents, businesses and insurance companies on that side of the continent should likely start to keep an eye on weather reports and take the right steps to prepare. Over the last few years, major hurricanes have been few in numbers, but it only takes one to bring catastrophe.…

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New legislation brings more clarity to property insurance

S.Vagus
wind property Insurance news

Mississippi legislation aims to bring more clarity to the property insurance sector Mississippi lawmakers are attempting to bring more clarity to the property insurance space. A new legislation, which has won support from the House of Representatives, is set to appear before the state’s Senate. The legislation is designed to bring more transparency to homeowners insurance and provide clarity on the premiums that insurance companies collect. Called the Property Insurance Clarity Act, the legislation is gaining strong support. Last year, a previous version of the legislation was struck down by…

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Insurance claims pouring in with Arthur rains

H. Cutner
insurance industry claims

The Atlantic coast of Canada was pummeled with heavy downpours and high winds from the post-tropical storm. The insurance claims are already beginning to be filed in waves that were nearly as heavy as those off the coast following the rampage from post-tropical storm Arthur as it made its way through the Canadian Maritimes. Agents are asking residents of the affected provinces to please be patient and review to their policy coverage. The majority of homeowners insurance policies do cover wind damage, which does not fall under the definition of…

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Consumers begin pulling out of South Carolina homeowners insurance program

S.Vagus
homeowners insurance

Insurance program is experiencing an exodus of policyholders Homeowners are beginning to pull out of South Carolina’s wind pool insurance program. The program exists as a last-resort option for those seeking insurance coverage in the state. The program is primary meant to provide coverage to properties that exists along the state’s coastlines, where wind damage is somewhat common. Many insurance companies in the private market do not offer wind protection alongside their homeowners insurance policies, which has made the state’s insurance program relatively popular, until very recently. Population of state’s…

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