hurricane deductibles News

Americas Insurance Waiving Separate Deductible in Louisiana After Delta, Laura

Americas Insurance Company will be waiving a separate deductible for Hurricane Delta for Louisiana insureds that were impacted by both Hurricanes Laura and Delta, provided they have satisfied their full named-storm deductible. According to Louisiana Insurance Commissioner Jim Donelon, for …

Louisiana Insurance Commissioner, State Farm at Odds Over Hurricane Deductibles

Louisiana Insurance Commissioner James Donelon has issued a cease and desist order against State Farm in a dispute over hurricane deductibles before Hurricane Barry. The state Department of Insurance received a complaint July 17 from a policyholder who claimed the …

Insurance Research Finds Many Homeowners Don’t Understand Deductibles

Almost five years after Superstorm Sandy, one third of homeowners in several coastal states are still unaware of hurricane deductibles and how they work, new insurance research has found. Not only did 33 percent of respondents say they had never …

New Mississippi Law to Set Uniform Rules for Hurricane Deductibles

Mississippians will see uniform rules about when hurricane deductibles apply to their homeowners insurance under a law Gov. Phil Bryant signed last week. House Bill 756, sponsored by Biloxi Republican Scott DeLano, requires Insurance Commissioner Mike Chaney to rule that …

N.Y. Lawmakers Introduce Bill to Cap Hurricane Deductibles at $1,500

New York legislators have introduced a bill this week that seeks to cap the percentage-based hurricane deductibles for homeowners’ insurance or dwelling fire personal lines policy in New York State at $1,500.The bill also seeks to establish that such hurricane …

A Look at New Insurance Laws Taking Effect in 2013

With 2013 just around the corner, a number of states are preparing to implement new insurance-related laws. Insurance Journal highlights some of the changes that will take place around the country.

Wind Deductibles and Sandy: What It Means for Total Insured Losses

On October 29, 2012, when Hurricane Sandy made landfall along the northeast coast—a year to the day since the last northeastern superstorm and fourteen months since Hurricane Irene — the wind speeds recorded by the National Weather Service indicated the …

Allstate Poised to Benefit From Reduced Exposure Along East Coast

Allstate Corp.’s chief executive said the company’s effort during the past five years to reduce exposures along the East Coast is helping to lower Sandy-related losses. “It’s still too early to tell on either the volume, the mix or the …

Controversy Over Hurricane Deductibles May Just Be Beginning

When the National Hurricane Center declared Sandy a “post-tropical storm” just before it made landfall, a lot of homeowners across New Jersey, New York, Connecticut and Maryland may have saved a lot of money. The governors of these states have …

Connecticut Updates Underwriting Guidelines for Hurricane Deductible

Connecticut insurance department announced that it has updated its coastal underwriting guidelines to clarify when hurricane deductibles can be applied. The hurricane deductible issue has been in the spotlight in wake of Tropical Storm Irene. Some policyholders in Connecticut saw …