Hurricane Claims News

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 …

Bermuda Association Explains Reinsurance Risk Spreading Role

“The global reinsurance market plays an integral role in spreading US hurricane risk around the world,” said a bulletin from the Association of Bermuda Insurers and Reinsurers (ABIR). “Without it, the risk would be concentrated in a single state (or …

After Storms, Adjusters Blow into Disaster Areas

Barry Schoch’s cell phone comes to life with “When the Saints Go Marching In” — a reminder of the nine months he spent assessing damage from Hurricane Katrina in Louisiana and Mississippi. These days, the independent insurance adjuster is waiting …

Florida Task Force Issues Final Report on Citizens’ Claims Handling

The Task Force on Citizens Property Insurance Claims Handling and Resolution, created during the 2007 Legislative Special Session, issued its third and final report. In addition to the June 11 submission, the task force will release a supplemental report, sometime …

Florida Extends 1% Hurricane Surcharge Until 2014

The Florida Cabinet voted to extend a 1 percent insurance policy surcharge to cover hurricane claims that began in 2007 for two additional years through 2014. The assessment covers outstanding claims that originated during the state’s devastating 2004 and 2005 …

Pinnacle to get $48M from Allianz

Pinnacle Entertainment Inc. said it will receive an additional $48 million from Allianz Global Risks US Insurance Co. to settle a lawsuit related to Hurricane Katrina damage at a former Mississippi casino and its Boomtown New Orleans facility. The Las …

Hurricane Law Group Alleges Florida Withheld Consumers’ Mediation Options

The Florida-based Hurricane Law Group announced today that it has filed a lawsuit in the Circuit Court of the Second Judicial Circuit in Leon County against CFO Alex Sink, Insurance Commissioner Kevin McCarty, the Department of Financial Services and the …