Latest Policyholder Headlines
All the headlines from our Policyholder Topic Page, ordered by recency.
As Hurricane Season Opens, Florida’s Citizens Touts Depopulation Deals
Jun 4 2013 // Officials at Florida’s property insurer of last resort say that it is entering the 2013 hurricane season in improved financial condition thanks in part to various private insurer policy takeouts. Those takeouts have...
Coastal Homeowners Upset with Insurers, Regulators Over Surge in Insurance Costs
Jun 4 2013 // When Stan Virden moved into his 2,400-square-foot house overlooking a rock-lined canal in 1996, he paid less than $1,000 a year for homeowners insurance. Now, as he seeks to move to Atlanta to be near family, Virden says...
After Years of Increases, Florida Property Insurance Rates May Be Stabilizing
May 29 2013 // It’s been nearly eight years since Hurricane Wilma raked the southern end of Florida and caused billions in damages, the last of eight hurricanes to hit the state in 2004 and 2005. Yet even as the state has been...
Florida’s Citizens, Heritage Insurance Strike a Deal
May 28 2013 // Florida’s Citizens Property Insurance Corp. has narrowly approved a plan allowing a domestic insurer to remove 60,000 policies and receive as much as $52 million from Citizens in exchange. A short-handed Citizens...
Utah Workers Comp Fund Distributes $8 Million Dividend
May 21 2013 // The board of directors for Utah’s Workers Compensation Fund declared a dividend to be distributed to a majority of policyholders in May. Policyholders can expect to receive 5 percent of their 2012 earned premium....
‘Major Disaster’ Declared in Wake of Deadly Oklahoma Tornadoes
May 21 2013 // An estimated EF4 tornado with a wind range of up to 200 mph roared through the Oklahoma City suburb of Moore, Okla., on May 20, leaving behind massive devastation and at least 24 confirmed dead. Earlier media reports...
Risk Retention Groups Show Strong Financial Stability: Demotech
May 20 2013 // Risk retention groups (RRGs) continue to display strong and stable results, according to a recent analysis of year-end 2012 financial information. Demotech Inc., a financial analysis firm specializing in evaluating the...
State Farm Appeals Katrina Fraud Ruling in Mississippi
May 20 2013 // State Farm Fire and Casualty Co. is asking a judge to void a jury’s finding that the company defrauded the government in a case involving a policyholder claim after Hurricane Katrina. The verdict came in April in a...
State Farm Appeals Katrina Fraud Ruling in Mississippi
May 13 2013 // State Farm Fire and Casualty Co. is asking a judge to void a jury’s finding that the company defrauded the government involving a policyholder claim after Hurricane Katrina. Motions filed in U.S. District Court in...
FM Global: 1,900 Clients to Receive ‘Membership Credit’ to Lower Premium
May 13 2013 // Johnston, R.I.-based FM Global, one of the world’s largest business property insurers, said its policyholders will collectively receive an estimated $435 million in premium reductions when they renew their policies...
Texas Mutual Plans $175M Policyholder Dividend Distribution
May 9 2013 // The policyholder owners of Texas Mutual Insurance Co. will share a $175 million dividend distribution this year, the company’s board of directors announced after a unanimous vote on May 7, 2013. This is the 15th...
Risk Retention Groups Continue to Display Financial Stability: Demotech
May 7 2013 // Risk retention groups continue to display strong and stable results, according to a recent analysis of year-end 2012 financial information. Demotech Inc., a financial analysis firm specializing in evaluating the financial...
Florida Lawmakers OK Clearinghouse for Citizens Business; Agents Face Changes
May 6 2013 // Florida lawmakers approved legislation that seeks to slow the growth of the state-backed property insurer by diverting new policies into the private market while largely retaining the status quo for the insurer’s...
Arizona Third State to Allow Posting Policies Online
May 1 2013 // Arizona Gov. Jan Brewer signed a bill that allows a property/casualty insurer to post policies online and send a link via email to policyholders in lieu of providing a hard copy. Brewer signed HB 2565, which allows an...
Massachusetts AG Announces $200K Settlement With Safety Insurance Co.
May 1 2013 // Auto insurer Safety Insurance Company agreed to pay more than $200,000 to settle allegations that it overcharged hundreds of inexperienced drivers by failing to reduce premiums as consumers gained additional years of...
Sandy Lesson for Business Owners: Read Policy, Keep Track of Notice Provisions
Apr 28 2013 // It’s been six months since Superstorm Sandy made its landfall on the coast of New Jersey and became one of the costliest storms ever recorded in the U.S. Many businesses in the region are still recovering from the...
Maryland OKs Bill Allowing MAIF Policyholders Installment Payment Option
Apr 26 2013 // Maryland’s General Assembly has passed a bill this month that would allow the Maryland Automobile Insurance Fund (MAIF) to offer installment payment option for policyholders. MAIF, the insurer of last resort, was...
Florida Senate Approves Citizens Reform Bill; Path Ahead Remains Uncertain
Apr 26 2013 // Florida lawmakers have taken the first step towards reforming the state-backed property insurer, but not before significantly scaling back its impact on policyholders while the chances for final legislative approval remain...
Defining Terrorism for Policies Not a Simple Task After Boston Tragedy
Apr 25 2013 // There are a number of issues involved in determining whether the Boston bombings tragedy would be considered a terrorist act for insurance purposes such as determining the applicability of terrorism exclusions and...
Crum & Forster to Offer DriveCam Services to Policyholders
Apr 23 2013 // Crum & Forster (C&F) will now offer DriveCam’s managed services to its policyholders as part of C&F’s loss control/safety management services. DriveCam addresses safety by combining data and video...
