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Yearly Archives: 2014

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Settlement agreement reached in Michael Jackson insurance case

Thu Feb 6th, 2014 on     Insurance Claims,    

The former “King of Pop” Michael Jackson had fans throughout the world including in the Miami area. His untimely death came as a shock to many and so too likely did its cause. At the time of his death he was in the process of rehearsing for a concert tour that was being promoted by AEG Live LLC. As a part of the tour a non-appearance and concert cancellation insurance policy was purchased from Lloyd’s of London in June 2009.

Round and round she goes, but where NFIP ends up, nobody knows p3

Tue Feb 4th, 2014 on     Insurance Law,    

We are back to discussing the bill passed by the U.S. Senate that will delay flood insurance rate hikes. The Senate combined the National Flood Insurance Program bill to another insurance bill, the National Association of Registered Agents and Brokers Reform Act. We talked about the flood insurance bill in our Jan. 31, 2014, post. Here, we will tackle the NARAB bill.

Round and round she goes, but where NFIP ends up, nobody knows p2

Fri Jan 31st, 2014 on     Insurance Law,    

Seconds after we published our last post, the U.S. Senate passed the bill that included both the Homeowner Flood Insurance Availability Act and the National Association of Registered Agents and Brokers Reform Act. The flood insurance act will keep flood insurance subsidies in place for four years. During that time, the Federal Emergency Management Agency — the agency responsible for the National Flood Insurance Program — will complete an affordability study and perfect new flood maps.

Round and round she goes, but where NFIP ends up, nobody knows

Thu Jan 30th, 2014 on     Insurance Law,    

The time has come, it seems, to talk of flood insurance rate hike delays, of months or years and agent licensing and economically distressed policyholders — and, as Lewis Carroll would add, whether pigs have wings. The debate over the rate hikes associated with implementation of the Biggert-Waters Flood Insurance Reform Act continues in both the House and the Senate, and the White House has chimed in as well.

Do you and your betrothed take this insurance policy …

Fri Jan 24th, 2014 on     Insurance Claims,    

As we have said time and time again, insurance is all about risk. In some circles, “risk” is merely code for “gambling,” but the industry shies away from using the latter for some fairly obvious reasons. Imagine, for example, that your insurance agent asks you how much you’d like to bet that your teenager will crash the car or your neighbor will break a leg on your front steps. Risk is a much more palatable word.

Florida’s Citizens sheds another 45,000 Florida citizens

Thu Jan 16th, 2014 on     Homeowners Insurance,    

Another 45,000 homeowners policies could be leaving Citizens Property Insurance Corp. in March. Florida’s insurer of last resort has been trying to shed policyholders and their risk for the past couple of years, and the Office of Insurance Regulation recently approved another “takeout.” We discussed the overall effort and the company’s goal of moving 400,000 policies to private insurers in our Sept. 27, 2013 post.

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