Latest Policyholder Headlines
All the headlines from our Policyholder Topic Page, ordered by recency.
A policyholder bonanza: Texas Supreme Court decides Lamar Homes
Sep 24 2007 // The Supreme Court also disagreed with the district court’s common sense ruling that faulty workmanship that damages the property of a third party is a covered “occurrence,” whereas faulty workmanship that...
Lloyd’s America’s Baker: Time for action on climate change is now
Sep 24 2007 // For an insurer, understanding climate change is a matter of understanding trends in risk and changes in those trends. For Wendy Baker, president of Lloyd’s America Inc., staying on top of those trends in the United...
State Farm Settles 103 Katrina Cases in Mississippi
Sep 19 2007 // State Farm Insurance Cos. has settled with 103 policyholders in Mississippi who challenged the company’s refusal to cover damage to their homes from Hurricane Katrina, a lawyer for the homeowners said Monday. Terms...
R.I.’s Beacon Mutual Begins Paying Fine after Judge Denies Injunction
Sep 12 2007 // Rhode Island workers’ compensation insurer Beacon Mutual Insurance Co. has made the first payment of $500,000 in its fulfillment of a consent order that calls for $2.5 million in fines and policyholder refunds of $7...
Allstate to Comply with N.Y. Anti-Tying Rule on Home Nonrenewals
Sep 12 2007 // Allstate Insurance Co. and its affiliates have agreed to comply fully with a directive by the New York State Insurance Department that insurance companies may not refuse to renew homeowners insurance policies based on...
Texas Medical Liability Carrier Announces Rate Cut
Sep 7 2007 // Medical liability insurer Texas Medical Liability Trust (TMLT) recently approved a 6.5 percent rate reduction for all medical specialties and classes effective Jan. 1, 2008, the third straight rate reduction/dividend for...
Fla.’s Citizens to Hold Policyholder Forum in Ft. Myers
Sep 6 2007 // Citizens Property Insurance Corp. will host a policyholders’ forum at Ft. Myers High School in Ft. Myers, Fla.,on Sept. 10. Citizens staffers, including underwriters, claims specialists and members of senior...
GEICO Cuts N.J. Auto Rates
Aug 30 2007 // GEICO is reducing auto insurance rates for its policyholders in New Jersey by a statewide average rate decrease of 4.1 percent. GEICO said its decrease represents $30.8 million in savings for its New Jersey policyholders,...
N.Y. Halts Insurers from Tying Coastal Home Renewals to Other Business
Aug 29 2007 // Insurance companies in New York may not refuse to renew homeowners insurance policies based on whether a policyholder has other business such as an auto or life policy with them, under a new order from the state insurance...
P/C Insurers Must Diversify Products, Distribution, Says IBM Study
Aug 28 2007 // U.S. consumers want insurance companies to more effectively communicate new products and services available to them, provide tailored policies and services to better meet their needs, and bring their customer experience up...
Deadline Looms for Filing Suits Against Insurers Over Katrina
Aug 27 2007 // Courts in Louisiana already inundated by a wave of litigation against insurance companies over damage from Hurricane Katrina are bracing for a last-minute barrage of lawsuit filings as a deadline nears. Thousands of...
Federal Appeals Courts to Hear Key Mississippi Katrina Insurance Case
Aug 7 2007 // A federal appeals court is poised to review a judge’s verdict last year in the first trial among hundreds of lawsuits that Mississippi homeowners filed against insurance companies in Hurricane Katrina’s...
Declarations
Aug 6 2007 // Policyholder wind “Maybe they’ll make us buy Shell gasoline next. For me to have fire insurance I have to buy wind insurance? That makes no sense at all.” — Michael McAndrews of Ocean Springs, Fla.,...
Putting Florida’s rate filing and reinsurance controversy in context
Aug 6 2007 // Currently underway in Florida is a controversy over the amount of private reinsurance homeowners insurers should purchase in addition to the now expanded $28 billion in reinsurance available from the Florida Hurricane...
Lloyd’s America’s Baker: Time for action on climate change is now
Aug 6 2007 // For an insurer, understanding climate change is a matter of understanding trends in risk and changes in those trends. For Wendy Baker, president of Lloyd’s Amer-ica Inc., staying on top of those trends in the United...
Blanco, Donelon and business coalition deliver market reform laws
Aug 6 2007 // The 2007 legislative session in Louisiana resulted in three major pieces of legislation recently signed into law which will improve the ability of insurers to rate and underwrite homeowners insurance on a more competitive...
Declarations
Aug 6 2007 // Declarations Policyholder wind “Maybe they’ll make us buy Shell gasoline next. For me to have fire insurance I have to buy wind insurance? That makes no sense at all.” — Michael McAndrews of Ocean...
Putting Florida’s rate filing and reinsurance controversy in context
Aug 6 2007 // Currently underway in Florida is a controversy over the amount of private reinsurance homeowners insurers should purchase in addition to the now expanded $28 billion in reinsurance available from the Florida Hurricane...
Fla.’s Citizens Offers Single Wind-Only Policy
Aug 1 2007 // Citizens Property Insurance Corp., Florida’s residual market insurer, will begin offering a single policy to its wind-only customers on Aug. 1. “By allowing our policyholders to combine their wind-only and...
RAND Study: Wind Insurance Scarce on Gulf Coast; Challenge for Both Insurers, Government
Jul 27 2007 // Many businesses along the Gulf of Mexico coast have had a difficult time obtaining wind insurance coverage since Hurricanes Katrina, Rita, and Wilma hit in 2005 and have often ended up paying more than twice as much for...
