|
||||||
 Mountain Parkway: 2-4 Lane
|
This week saw the Mississippi Supreme Court rule on a lawsuit arising from a dispute between USAA and a homeowner over a Katrina claim. The case is Corban v. USAA, and the ruling is online. The short version of the Corban claim is: The Corbans had a very nice property close to the Mississippi at the time [...]
According to the Wall Street Journal, the Commissioner has imposed some conditions: Mr. McCarty laid down a number of conditions including none of the company’s policyholders ending up in Citizens Property Insurance Corp., the state-created insurer of last resort. Citizens has grown in recent years to become the state’s largest home insurer. […] Other conditions called for [...]
Just when you thought the long-simmering battle between large homeowners insurers and Florida regulators had chilled to the point of being merely a cold war (via the New York Times): Rebuffed by regulators in its efforts to raise homeowner rates by nearly 50 percent, Florida’s largest private insurer of property announced Tuesday that it would shutter [...]
Before folks disappeared for the long weekend, this story appeared on the newswires: U.S. regulators have ordered nine insurance companies, including Allstate Corp and Travelers Cos Inc, to provide information about how they set prices for homeowners’ coverage, the Federal Trade Commission said on Tuesday. The FTC said the companies must provide data about credit-based insurance scores, [...] 
Seen at the Biloxi Sun-Herald: Rep. Gene Taylor’s relentless two-year campaign to secure wind coverage as part of the federal flood insurance program is on the verge of failure, a victim of vicious opposition in the Senate, of suspicions about a new government program and ultimately, of bad timing. "It looks like there will be an extension [...]
One of the more annoying messes in the wake of Katrina was, at least among those homeowners who had flood coverage, how claims settlement could be delayed by wind and flood coverage being provided in two policies, each with somewhat different terms. Some Gulf Coast politicians would have this, as well as many other wind vs. [...] 
One of the central themes when it comes to discussing the high cost of property insurance in catastrophe-prone locations is that of whether people who live in harm’s way should bear the financial burden of the risk they face…or is covering such risk seen as a social need sufficient to justify subsidies paid by folks [...]
A post on Sam Friedman’s blog at National Underwriter has me thinking. (Danger, Will Robinson! Danger!). I posted a response at NU, but I’m going to extend my thoughts here. Sam writes: One of the most important and interesting developments at the recent NAIC meeting came in under the radar and took most insurers by surprise–a controversial [...] 
David Rosmiller has posted a decision from the Fifth Circuit Court of Appeals on the Broussard Katrina-slab case: We REVERSE the judgment of the district court entering JMOL in favor of the Broussards. We REVERSE and VACATE the jury’s award of punitive damages. We AFFIRM the district court’s admission of testimony from the Broussards’ expert witness. [...]
Speaking of promoting conservation and sustainability, this press release from AIG caught my attention: LexElite Eco-Homeowner, available as an endorsement to the LexElite® homeowner policy, responds to the unique risks faced by homeowners who generate their own power and feed surplus energy back into the local power grid. If a homeowner’s alternative-energy system has a covered [...] |
|||||
|
Website content © MikeTheActuary 1994-2010 |
||||||
