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 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 …
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 …
Government adjusters trying to assess the accuracy of flood claims payments from the 2005 hurricane season were hampered by a lack of access to data on wind damage from the National Flood Insurance Program and private insurers, according to a …
In testimony today before the North Carolina Building Code Council, the American Insurance Association urged that stronger hurricane resistant construction standards be required for all areas of the coast vulnerable to hurricane-force winds. “Adopting and enforcing all building code provisions …
The Florida Financial Services Commission took further steps to implement the insurance reforms Gov. Charlie Crist has called for and the House and Senate passed into law during the January special session. Florida Insurance Commissioner Kevin McCarty presented two rules …
Flashlights, radios, tarps and other hurricane supplies would be tax free for 12 days at the beginning of hurricane season, under a measure the Florida House has under consideration. Floridians received a similar tax break last year leading into hurricane …
The headline numbers were eye-popping: Allstate reported a record $5 billion profit for 2006. State Farm Insurance’s profit climbed 65 percent for the year. St. Paul Travelers’ earnings rose sixfold in the fourth quarter, American International Group’s rose eightfold. A …
Associated Industries of Florida is urging the state’s insurance officials and budget leaders to proceed with caution as they work toward the overhauling of Citizens Property Insurance Corp. Citizens plans to expand the types of coverage it can provide. Before …
Toronto-based Fairfax Financial Holdings recorded net earnings in US dollars of $159.1 million for the fourth quarter of 2006 and $227.5 million for the 2006 year ($8.45 and $11.92 per diluted share, respectively). The figures included “the effects of a …