Latest Homeowners Headlines
All the headlines from our Homeowners Topic Page, ordered by recency.
NH Commissioner Files to Liquidate Home Insurance
May 14 2003 // On May 8 the New Hampshire Insurance Department announced that Commissioner Paula T. Rogers has filed a Petition with the Superior Court of Merrimack County for her appointment as Liquidator of The Home Insurance Company....
IIABA Survey Reports Nearly 2.5 Million Households Lost Homeowners Coverage Past Two Years
May 13 2003 // A new independent consumer survey conducted for the Independent Insurance Agents & Brokers of America (IIABA) confirms that non-renewals and premium increases are becoming more common in the current homeowners...
Landmark Personal Lines Reg. Mod. Bill Introduced in S.C.
May 13 2003 // According to the Alliance of American Insurers, a bill introduced in the South Carolina Senate will put the state’s regulation of insurance light years ahead of any other and benefit homeowners by introducing more...
PIANJ Supports Proposed “Hurricane Deductible” Regulation
May 9 2003 // The Professional Insurance Agents of New Jersey Inc. has written a letter to Assistant Commissioner Douglas Wheeler of the New Jersey Department of Banking and Insurance, indicating the organization’s support for the...
ACIC Urges Calif. Lawmakers to Nix Ban on Insurers’ Credit Use
May 7 2003 // Legislation that would reportedly prohibit homeowners’ insurers from using credit history for underwriting, rating or payment plans in California will be considered Wednesday by the Senate Insurance...
STATE FARM RATE INCREASES IN LA.
May 5 2003 // State Farm recently won a 12.2 percent average rate increase for homeowners policies in Louisiana that goes into effect June 15. At that time around 263,000 Louisiana homeowners will face an average increase of $100....
Calif. Commissioner Issues First Homeowners Bill of Rights Order
Apr 28 2003 // California Department of Insurance (CDI) Commissioner John Garamendi implemented the first step in his Homeowner’s Bill of Rights April 25 by releasing a regulatory advisory to insurers reminding them to review and...
Safeco Posts First Underwriting Profit in Four Years
Apr 28 2003 // Safeco reported first-quarter net income of $90.0 million, or $0.65 per diluted share in a release today. The numbers mark a significant improvement over the same period in 2002, when Safeco generated net income of $63.6...
State Farm Gets Rate Increases in Louisiana
Apr 21 2003 // Beginning June 15, State Farm homeowner policyholders in Louisiana will face a 12.2 percent rate increase averaging about $100 more per year. According to the New Orleans Times Picayune, the Louisiana Insurance Rating...
Central Miss. Storms More Expensive Than Expected
Apr 17 2003 // Mississippi Insurance Commissioner George Dale announced that the recent storms that hit central Mississippi are turning out to be much more expensive than previously thought. Dale said preliminary numbers on the cost of...
AAI Says Mass. Bill Mandating Fuel Spill Coverage Would Upset Homeowners Mkt.
Apr 16 2003 // The Alliance of American Insurers (AAI) is opposing passage of a bill heard Tuesday by a Massachusetts legislative panel that would add fuel spill coverage to the standard homeowners insurance policy. HB 1961 mandates that...
Homeowners
Apr 9 2003 // Nuts & Bolts: ME James Surplus Lines is offering a program for homeowners. Dollars: Policy limits of $500,000 – $25,000,000; Liability of $1M; Deductibles of $1,000-up. Carrier: Lloyd’s of London. Rated...
Foremost Insurance Co. Won’t Raise Homeowners Rates on Deployed Military
Apr 8 2003 // The Grand Rapids, Mich.-based Foremost Insurance Group of companies is modifying underwriting guidelines for current mobile home and non-standard homeowner customers who are being militarily deployed and are leaving an...
Hard Market Hits California Homeowners
Apr 7 2003 // Credit scoring, CLUE reports become targets of Commissioner Garamendi’s Ire The hard market has hit California homeowners hard. State Farm, which had nearly 23 percent market share in the state in 2001 according to...
Are Cost, Availability of Calif. Homeowners Insurance at Crisis Proportions’
Apr 7 2003 // Today, the California personal lines industry is at the peak of a down cycle that has adversely affected the homeowners’ insurance marketplace. The downturn began in 2000, and worsened after the Sept. 11 attack on...
Challenges Abound in the High-Valued Homes Market
Apr 7 2003 // For more than a decade, the U. S. homeowners insurance industry has failed to produce acceptable results. Less publicized has been the challenges faced by insurers of high-valued homes. To a large extent, the same culprits...
Open the Black Boxes
Apr 7 2003 // One of the most frustrating experiences for any insurance buyer—personal, commercial, or institutional—is to see a sudden, steep rate hike even if you haven’t had a claim in years, if ever. The industry loses...
Challenges Abound in the High Valued Homes Market
Apr 7 2003 // For more than a decade, the U. S. homeowners insurance industry has failed to produce acceptable results. Less publicized has been the challenges faced by insurers of high valued homes. To a large extent, the same culprits...
Playing the Waiting Game in the Texas Homeowners Market
Apr 7 2003 // Could it be that there is a light at the end of the tunnel for the Texas homeowners market? Rates have firmed through waves of increases over the past two years to the point where they may have reached a pinnacle, at least...
Let it Hail, Let it Hail, Let it Hail!
Apr 7 2003 // The March 2000 thunderstorm blew in without much warning during the Fort Worth, Texas early evening rush hour. When softball-size hail smashed through the roof of a downtown restaurant, customer Mario Valverde headed for...
