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Yearly Archives: 2012

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Force-placed insurance companies feeling the heat

Thu Sep 20th, 2012 on     Homeowners Insurance,    

Thanks to the combined pressure of the Securities and Exchange Commission, insurance regulators from Florida and four other states, the National Association of Insurance Commissioners and consumers, Assurant Inc. recently shared sales data for its force-placed insurance line. The company said it had collected $90 million in premiums from two of the four states that have questioned force-placed rates.

Life insurance for moon shot was a long shot for astronauts

Sat Sep 8th, 2012 on     Insurance Claims,    

The death of Neil Armstrong late last month seems to have reignited interest in the space program and the lives of the Apollo astronauts. Tributes to Armstrong always included the grainy footage of his first step on the moon, and some recalled the entire Apollo 11 mission, from liftoff in Florida to splash-down and quarantine. Armstrong’s achievements may well inspire a whole new generation of explorers.

As Isaac loomed, the predictions poured in

Fri Aug 31st, 2012 on     Homeowners Insurance,    

Congress recently approved an extension for the National Flood Insurance Program. Rather than expiring this past July, the program will run through 2017. Florida residents welcomed that decision, particularly since hurricane season was underway, and they did not want to be left without the needed property insurance should any hurricane damage their homes.

HOA insurer questions coverage in Trayvon Martin’s death 3

Tue Aug 28th, 2012 on     Insurance Claims,    

Insurance companies are very careful about what they cover and what they exclude. With homeowners policies, for example, outbuildings may not be covered. If you have a shed or a playhouse, you would need to purchase additional coverage for that. Medical malpractice insurance does not cover illegal acts; if the physician is accused of assault, for example, the insurance company will not pay for the doctor’s defense attorney and will not pay any damages awarded to the victim.

HOA insurer questions coverage in Trayvon Martin’s death 2

Sun Aug 26th, 2012 on     Insurance Claims,    

At the time of his death, Trayvon Martin was staying with his father’s girlfriend in a townhouse near Orlando, Florida. He was on his way back from the store, inside the gated townhouse development, when he was shot and killed by a community resident who was also the neighborhood watch coordinator. The case has been controversial from the beginning.

HOA insurers question coverage in Trayvon Martin’s death

Fri Aug 24th, 2012 on     Insurance Claims,    

When you buy auto insurance or homeowners insurance, you generally purchase two types of coverage: coverage for loss of or damage to property and coverage for injuries to third parties. If a tree falls on your roof, your insurance reimburses you for the repairs. If a party guest breaks his arm in a fall near your backyard pool, your insurance reimburses him for his medical costs.

What, me worry? Insurers object to ‘too big to fail’ criteria p2

Sun Aug 19th, 2012 on     Insurance Law,    

While cynics would say that regulators are closing the barn door long after the horses have bolted, the idea of recognizing beforehand that a bank or investment house or insurance company is too big to fail — that is, too big for us to allow it to fail — offers the rest of us some comfort. Had standards been in place in 2008, perhaps the financial meltdown would be only a worst-case scenario and not a painful memory.

What, me worry? Insurers object to ‘too big to fail’ criteria

Thu Aug 16th, 2012 on     Insurance Law,    

It may surprise some to know that the global financial crisis of 2008 was not the first time the expression “too big to fail” was used. The phrase has, however, become synonymous with the collapse of Lehman Brothers, the near collapse of American International Group Inc. and the near implosion of the stock market. So much so, in fact, that insurance companies and financial institutions will do just about anything not to be labeled as too big to fail.

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