In a move set to memorialize and preserve the memory of the carnage and harm recent hurricanes have caused, the NOAA is retiring several notable storm names from active use in the upcoming hurricane season. The names Gustav, Ike and Paloma will never be associated with future hurricanes or tropical…
In looking to decrease its exposure, the Florida legislature has moved forward on legislation that will raise premiums on owners of state-backed Citizens Property Insurance policies. The Miami Herald reports: Lawmakers approved the proposal (HB 1495) Thursday that would increase rates on a gradual basis for customers of the state-backed…
A Maryland based group recently studied the effects of a hurricane hitting the Northeast and found the results would be economically devastating. Using only a category 3 hurricane in their analysis (Gustav and Katrina were both 4’s), the group found that such a storm could cause upwards of $130 billion…
In the midst of Hurricane Rita judgements and appeals, the Southeast Texas record recently profiled a woman who, albeit bravely, chose to represent herself in her appeal against her insurance company and paid the price. Mary Harmon, who felt her insurers, National Lloyds and the Kenneth Denby Insurance Agency, acted…
A recent article by Houston’s Chronicle highlights the delays being faced by Texas property owners in the wake of Hurricane Ike. Not surprisingly, almost all involve insurance company delays: LIST OF COMPLAINTS Top five reasons Texas homeowners have lodged Ike-related complaints against the Texas Windstorm Insurance Association, as of March…
In an extremely important ruling made by the Louisiana Supreme Court, citizens of Louisiana have an extended time period to press litigation against insurers for Katrina-related delays or judgements relating to storm damage and insurance company actions: Louisiana Citizens Property Insurance Corp. and other insurers may face a new round…
With the class approved, a judge in Orleans Parish awarded residents of Louisiana $1,000 each from Louisiana Citizens Property Insurance for how they handled claims after Hurricane Katrina. The Berniard Law Firm’s founder, Jeff Berniard, was part of the litigation and continued his record of helping residents get the justice…
In an article for the Star Telegram and the AP, more information is given on the increased HUD assistance coming through for Texas… to the tune of over a billion dollars: The federal government is releasing $1.3 billion in federal housing assistance to 62 Texas counties help rebuild from the…
In yesterday’s Times-Picayune, reporter Rebecca Mowbray details a string of rulings by the Louisiana courts in favors of residents against the insurers. After siding with insurance companies in early rulings after Hurricane Katrina, the 5th U.S. Circuit Court of Appeal has suddenly cranked out a stream of policyholder-friendly rulings in…
Per WBRZ news, “Louisiana homeowners and businesses will see property insurance rates rise more this year than they have since 2006.” Business writer Ted Griggs cites the economic downfall facing the nation as the predominant reason for the increase, which could be anywhere from 3 to 10%. [Insurance Commissioner Jim]…