Courtesy of the Insurance Information Institute Hurricane Insurance Fact Sheet Insurance companies have paid an estimated $40.6 billion on 1.7 million claims for damage to homes, businesses and vehicles in six states from Hurricane Katrina, the largest loss in the history of insurance. By contrast, Hurricane Andrew resulted in $15.5…
As if waiting for insurance checks wasn’t enough, residents in Galveston are now being held up by their mortgage lenders. In an article by the Galveston County Daily News, the plight of some homeowners is detailed as mortgage companies try to protect themselves and their investment and residents remain financially…
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]…
The Chicago Tribune, so graciously, pointed out the corruption in politics the great state of Louisiana is facing in the wake of Blagojevich by pointing out, while Illinois may have corrupt governors, they are nothing compared to us. The beleaguered residents of Illinois may be squirming over their newfound visibility…
The Times Picayune reported yesterday Louisiana has the third-highest homeowners insurance premiums in the nation, according to the first assessment of prices after Hurricane Katrina by the National Association of Insurance Commissioners. The cost appears to be a Gulf Coast epidemic as Texas claims the number one spot, followed closely…
FEMA is now looking into cronyism in Louisiana in the wake of federal funding provided for the recovery effort post-Katrina. WASHINGTON (AP) — The Federal Emergency Management Agency is investigating allegations of cronyism and other misconduct at the New Orleans office overseeing efforts to rebuild the hurricane-battered Gulf Coast, officials…
In a surprisingly candid and clear report on FEMA and its efforts post-Katrina, CBS News released a story on the 25th detailing what Slidell mayor Ben Morris calls “an indescribable nightmare that most people would not believe.” An EXCERPT: CBS News has learned that since January 1, nearly 80 employment-related…
As reported by WTJV, a South Florida condominium company was awarded nearly $30 million in damages and attorney fees after taking insurance agency QBE to court. The verdict was of concern to Buckley Towers families whose damaged homes are in the middle of a condemnation proceeding by Miami-Dade County’s Unsafe…
While a recent string of fires in Pineville and Alexandria this week have led officials to warn Louisiana residents about fire safety and the like, it also serves as a reminder about insurance coverage. Not knowing if your home or property is covered in the event of a fire can…
As highlighted in recent articles regarding insurance companies going out of business and leaving policy owners “out in the cold”, it is important to know what to do in the event your policy provider goes out of business. While making whatever repairs necessary to keep your home in shape, and…