Blog: property

There are about 18 million homebased businesses in the United States. But some 60 percent of them are gambling with the future of their businesses–and most don’t even know it. These homebased entrepreneurs don’t have enough business insurance coverage, according to the Independent Insurance Agents of America Inc.(IIAA), an Alexandria, Virginia-based trade group. Many entrepreneurs…

A Miami lawyer has filed class action suit against The Hartford alleging the company failed to pay replacement cost on Hurricane Wilma claims to insureds who had purchased the coverage. The suit claims The Hartford refused to pay replacement cost coverage unless and until the insured actually replaced the property, which lawyer Steven Simon says…

Commercial property vacancies are on the rise across the country. Google Raymond Torto, Ph.D., CRE, and read some of his predictions for commercial real estate over the next several months. Torto, Global Chief Economist for CB Richard Ellis Co., paints a less-than-pretty picture for commercial property owners and landlords. Landlords are losing tenants; and empty…

A Louisiana judge has ordered Louisiana Citizens Property Insurance Corp. to pay $92.8 million to 18,573 policyholders in the state whose claims from damage caused by Hurricane Katrina were not adjusted on time. The state-sponsored insurer of last resort is expected to appeal the judgment by Jefferson Parish Judge Henry Sullivan, according to the Times-Picayune…