Blog: Hurricane

The Fort Lauderdale Sun Sentinel’s regular insurance reporter, Julie Patel wrote this week (June 28, 2012) that Florida-based home insurers reported a net income (that’s after they deducted their expenses) of nearly $78.7 million in the first quarter of 2012. This was reported by Florida Insurance Commissioner Kevin McCarty, who should not be able to…

Lobbyists for the Florida property insurance industry are continually trying to curtail access to public industry adjusters for policyholders by convincing lawmakers to pass all sorts of restrictive laws. In a long-standing case that had reached the Florida Supreme Court, policyholders finally won the right to be solicited within the first 48 house after a…

We have all seen TV video of the horrible flooding and water damage caused this week throughout the Gulf Coast’s northern counties and panhandle of Florida. While the wind was never quite bad enough to become a major factor in the damage, four days on end of torrential rain resulted in unprecedented flooding and loss…

With weather forecasters calling for a worse-than-average 2010 Atlantic basin hurricane season, the Institute for Business & Home Safety (IBHS) is advising property owners on the most effective ways to protect their homes and businesses from hurricane damage. IBHS is also trying to dispel some common myths about hurricane preparedness. Forecasters predict 15 named storms…

By Jennifer Reich, Elk Marketing Specialist Dallas — During the worst storms you can board up windows and doors around the exterior of your home, but you can’t board up your roof. Mother Nature can wreak havoc on your roof, one of the most exposed parts of your home. But, how do you know if…

A Miami condominium association is suing its insurer, QBE Insurance Corp., and its Florida general managing agent, for more than $500 million in damages, claiming bad faith and deception in handling hurricane claims. Daniel S. Rosenbaum, the managing partner of Katzman Garfinkel Rosenbaum, LLP, in West Palm Beach, said his firm obtained a judgment against…

Florida’s state-run insurer absolutely should be rooting out fraud and incompetence that is inflating hurricane-mitigation discounts for homeowners. But Citizens Property Insurance Corp.’s board of directors should not award a no-bid $60 million contract to a private vendor who has not tackled a project of this size. The board should reconsider and seek competitive bids.…

Six major storms have struck South Florida since 2004, causing widespread damage to shared community homes and property. But many associations may have failed to file valid insurance claims fearing increased fees or canceled polices. “Many associations were bullied by carriers into believing they should not have filed a claim for storm losses,” said Donna…

In a 9-0 decision, the Mississippi Supreme Court has ruled that so-called “all-risk” home insurance policies may cover wind damage from hurricanes, even in situations where the loss is later exacerbated by water from storm surge. The state high court decision found that language in a policy may exclude storm damage when it is caused…

CHICAGO (Dow Jones)–As big insurance companies back away from insuring homes along the hurricane-prone coast of Florida, some small, nimble insurers are rushing in – at least until the next big storm. The biggest insurance companies pulled back in Florida after a string of big storms in 2004 and 2005 caused billions of dollars in…