A new guideline from Fannie Mae, if it stands, could throw a wrench into the property-casualty insurance industry’s move toward actual cash value for more homeowners and condo coverage. Starting June 1, the government-backed mortgage corporation, which support a large …
A bill introduced by a Democrat and trial attorney would take a step toward something that property insurers have longed for in recent years – actual cash value coverage on roofs, at least condominium roofs. State Rep. Hillary Cassel, D-Dania …
In the May 15, 2023 Insurance Journal, independent adjuster Ben Mandell shared an opinion that Florida insurance policies have “one glaring endorsement that is missing” – roof endorsements that could have “eliminated or greatly minimized” Florida’s insurance crises. He argues …
Two Trumbull Insurance customers who believe they were short-changed on claims payments have filed a proposed class action suit against the insurer, alleging Trumbull has been incorrectly calculating some property claim payments by deducting labor depreciation. The complaint (Grawe v …
The Texas Windstorm Insurance Association is alerting agents about an important, upcoming change to the policy conditions that determine how covered losses are settled. Current law says the type of loss settlement — replacement cost value (RCV) vs. actual cash …
Texas independent insurance agents might want to warn their homeowner insurance customers that premium hikes and/or increases in deductibles could be on the horizon this year. Homeowners insurers have been filing for rate increases in the state over the past …
An insurer can’t depreciate labor in calculating the actual cash value (ACV) of an insured property in the event of a covered loss, Arkansas high court justices have determined. In an opinion delivered on Dec. 10, 2015, the Arkansas Supreme …
