Senate Bill Would Extend National Flood Insurance Program for 10 Years
Senate Bill Would Extend National Flood Insurance Program for 10 Years

U.S. Senators Bill Cassidy (R-La.) and Kristen Gillibrand (D-N.Y.) have released draft legislation to reauthorize the National Flood Insurance Program (NFIP) for 10 years. The NFIP is currently set to expire on Sept. 30, 2017. The legislation, the Flood Insurance Affordability & Sustainability Act of…
Texas Senate Bill 10 Would Adversely Affect All Insureds
Texas Senate Bill 10 Would Adversely Affect All Insureds

All Texas businesses should be concerned about the potential passage of Senate Bill 10 (SB 10). While several lawmakers tout SB 10 as tailored legislation to curb “hailstorm lawsuit abuse,” SB 10 is much broader and impacts all policyholders. Indeed, SB 10 fails to reference…
Texas Businesses Line Up Against Lt. Governor’s High-Priority Insurance Bill
Texas Businesses Line Up Against Lt. Governor’s High-Priority Insurance Bill

Major business interests are lining up against one of Lt. Gov. Dan Patrick’s top priorities — a bill that would make it harder for Texans to force their insurance companies to pay up when calamity strikes. Patrick and his allies say the bill, Senate Bill…
Texas Stamping Office: Upward Trend Continues for Surplus Lines
Texas Stamping Office: Upward Trend Continues for Surplus Lines

Overall, 2016 ended on a positive note for the U.S. excess and surplus lines insurance industry, according to the Surplus Lines Stamping Office of Texas (SLTX). Nationally, nearly $26 billion in surplus lines insurance premium was recorded for end-of-year 2016, which is a 3.27 percent…
California Surplus Lines Are Now A Bigger Chunk of the Commercial Market
California Surplus Lines Are Now A Bigger Chunk of the Commercial Market

The phrase “new normal” might be a cliché, but it was too hard for Ben McKay, executive director of the Surplus Lines Association of California, to avoid using when describing the state’s excess and surplus market in 2016 and going forward. Surplus lines has become…
Reforming Disability Claim Procedures Under ERISA
Reforming Disability Claim Procedures Under ERISA

On Dec. 19, 2016, the U.S. Department of Labor published in the Federal Register sweeping reforms to the regulations it issues under Section 503 of the Employee Retirement Income Security Act, aimed at eliminating bias in the ERISA disability claims and review process. Despite ERISA’s…
Viking Pump Tops Biggest Insurance Decisions Of 2016
Viking Pump Tops Biggest Insurance Decisions Of 2016

New York’s highest court sent shockwaves through the insurance industry this year when it ruled that Viking Pump and Warren Pumps could hold policies in a single year liable for their entire loss from scores of asbestos claims while other courts issued key guidance on…
Texas insurer drops push to let homeowners forgo right to sue
Texas insurer drops push to let homeowners forgo right to sue

The Texas Farm Bureau said it would offer lower premiums to customers who agreed to arbitration clauses, but consumer rights advocates rebelled. The Texas Farm Bureau has dropped a proposal that would have allowed its homeowner insurance policyholders to pre-emptively sign away their right to…
Why the W.Va. floods were so deadly and destructive
Why the W.Va. floods were so deadly and destructive

Steep mountains, narrow valleys and a deadly train of storms came together in West Virginia to cause the horrendous flooding that killed 23 people last week, forced thousands to evacuate and destroyed or damaged thousands of homes and businesses. West Virginia got hit by a…
Rays of hope as Middletown residents return amid Valley fire
Rays of hope as Middletown residents return amid Valley fire

The Valley fire had spoiled Eric Lopez’s marriage proposal, but the story took an astonishing turn Saturday as he and his partner, Annette Perez, returned to their demolished Middletown apartment, armed with a shovel and rake to search the ashen remains of their worldy possessions.…
Long Island Company Charged in Insurance Scheme After Hurricane Sandy
Long Island Company Charged in Insurance Scheme After Hurricane Sandy

A Long Island engineering company and one of its former executives were charged on Monday in a scheme to minimize insurance payments to homeowners whose residences were damaged by Hurricane Sandy in 2012. In a 50-count indictment, Eric T. Schneiderman, the New York attorney general,…
Why Insurance Companies Don’t Renew Policies
Why Insurance Companies Don’t Renew Policies

FOR the better part of a week last year, Nancy Wergeles searched her home in Weston, Conn., for the engagement ring her husband had given her 53 years before. They had had a string of health care aides in their home and were also putting…
Aid may be available to repair or replace a vehicle damaged by April floods
Aid may be available to repair or replace a vehicle damaged by April floods

Texans whose vehicles were damaged or destroyed by this April’s flooding may be eligible to receive federal assistance to repair or replace the vehicle. “Those who may be eligible include not just residents of the designated counties, but also those who were working in or…
Sandy advocate calls for investigation of FEMA
Sandy advocate calls for investigation of FEMA

TOMS RIVER — Saying the Jersey Shore’s recovery has been “cut off at the knees” because of lowball flood insurance payments, a Sandy advocate has repeated the call for an investigation of the Federal Emergency Management Agency. Sue Marticek, executive director of the Ocean County…
Insured Losses From California Fires Top $1B
Insured Losses From California Fires Top $1B

Damages from two destructive Northern California wildfires that killed six and sent thousands fleeing their homes topped $1 billion in insured losses, according to a preliminary estimate by the state’s insurance department. The two fires started days apart in September, burning more than 200 square…
Connecticut bans use of price optimization for insurance rates
Connecticut bans use of price optimization for insurance rates

Insurance Commissioner Katharine L. Wade announced last week that the state’s Insurance Department has officially warned property and casualty insurance companies against using a controversial pricing method that relies more on consumer buying habits than sound actuarial and risk-based principles. Called “price optimization” or “elasticity…
FEMA’s Sandy Flood Insurance Review Taking Longer Than Expected
FEMA’s Sandy Flood Insurance Review Taking Longer Than Expected

The Federal Emergency Management Agency’s review of Superstorm Sandy flood insurance claims is taking longer than expected, with fewer than 200 checks issued. FEMA announced in March the review for as many as 142,000 claims after homeowners complained they were shortchanged. A FEMA official expected…
Storm of Money
Storm of Money

Special report from the Post and Courier on hurricanes, insurance, and the black boxes that determine how much you pay.