Hurricane Claims News

South Carolina County Reports 18K Claims Filed After Hurricane Matthew

Insurance companies have closed 87 percent of the 18,193 insurance claims filed in Beaufort County in the aftermath of Hurricane Matthew, resulting in a payout of more than $159.3 million. News outlets report that South Carolina Department of Insurance Director …

Texas Windstorm Insurance Association Prepared for Hurricane Season

The Texas Windstorm Insurance Association (TWIA) announced it is in its strongest-ever position for this year’s hurricane season with $4.9 billion in total funding available to pay claims. The funding level is sufficient to cover a 100-year storm season and …

Florida Leaders See Omnibus Bill Stabilizing Home Insurance Market

Florida insurance leaders belive that recently passed legislation (SB2044) is a step towards stabilizing the state’s property insurance market that has had been rocked by politics, premiums assessments, company failures, reopened hurricane claims and a credit mitigation program that got …

Hurricane Ike Claims Total Nearly $12B in Texas

Hurricane Ike, which struck Galveston on Sept. 13, 2008, has proved to be the costliest weather catastrophe in Texas history by a large margin. The storm racked up nearly $12 billion in windstorm and flood insurance claims in the state. …

Miami Condo Association Sues QBE Insurance Over Hurricane Claims

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 …

Mercury Insurance Billboard Sparks Controversy

The controversy over the Los Angeles billboard telling the public “You Can’t Trust Mercury Insurance” could soon become a lawsuit. Attorneys for Consumer Watchdog, the group that put up the message, have sent a letter to CBS Outdoor, Inc., the …

Louisiana Hospital Owners Sue Insurer Over Gustav Damage

Owners of the River West Medical Center in Plaquemine, La., have filed suit against their insurer in Baton Rouge for $58.5 million. The lawsuit filed Aug. 27 alleges that unpaid hurricane claims resulted in closure of the facility in May. …

Florida’s Tower Hill Insurance Downgraded by A.M. Best; Tower Hill Responds

A.M. Best Co. has downgraded the financial strength ratings (FSR) to D (Poor) from B (Fair) and issuer credit ratings (ICR) to “c” from “bb” of Tower Hill Preferred Insurance Co., Tower Hill Prime Insurance Co. and Omega Insurance Co. …

Much Anticipated Windstorm Insurance Debate Begins in Texas

Texas legislators finally have jumped into debate over how to improve the troubled windstorm insurance system that serves as a last resort for hurricane protection along much of the Gulf Coast. The House Insurance Committee, watched closely by coastal residents …

Louisiana Citizens Settles Policyholder Lawsuits for $35 Million

Louisiana’s state-run insurer of last resort has reached a $35 million agreement with policyholders to resolve claims that the insurer failed to offer settlements for hurricane claims in a timely fashion after Hurricanes Katrina and Rita in 2005. Plaintiffs attorney …