News & Resources

A complicated Florida case involving homeowners, developers, a commercial general liability insurance company and Chinese drywall has hit another road block. The homeowners and developers had filed a complaint earlier this year, alleging the insurance company denied their claim in bad faith. The court ruled against them. In the present case, the court has told them that the insurance company should not cover the claim at all. Just two months after they moved into their […]

The world’s second-largest reinsurance company announced this week that natural catastrophe losses rose from $22.7 billion in 2009 to $31 billion in the first 11 months of 2010. Man-made disasters — notably British Petroleum’s Deepwater Horizon oil rig explosion and the ensuing oil spill — have spurred about $5 billion in claims. Florida residents will not be surprised to hear that hurricane losses this year have been relatively low, resulting in a less egregious increase in insurance losses than initially expected.

When people talk about soaring insurance rates, they’re usually talking about health insurance or – particularly in Florida – property insurance. Another type of coverage has found its way onto the list lately: long-term care insurance.

When a fire engine plowed through his yard this past August, a homeowner in Spring Hill, Fla. figured he’d hear from the fire rescue district’s insurance company. What surprised him was how rude and arrogant the adjusters were; what he absolutely didn’t expect was that the insurance company would deny the claim, saying the district was under no legal obligation to pay because the damage was not the result of the driver’s negligence.

This is the last of a series of three posts about a wealthy woman, her death, her companion, her family, and a $15 million life insurance policy. The policy listed the beneficiary as the woman’s companion, who was the last to see the woman alive. The companion claims the policy was taken out to protect his business, explaining that the woman was his partner in the venture. The insurance company argues that no one is entitled to the proceeds of the policy, because it was purchased fraudulently as a “stranger-originated” policy. The family has also entered the fray.

In our last post, we started to examine the intricacies and mystery surrounding a life insurance dispute. The insured, a woman of considerable wealth, died under unusual circumstances. While the death was ruled accidental, her daughter and the rest of the family were unconvinced. When a $15 million life insurance policy turned up, essentially naming the deceased’s companion and purported business partner as sole beneficiary, both the family and the insurance company became suspicious. Now, the companion, the insurance company and the family are all involved in a legal action to determine who is entitled to the $15 million.

In 2008, the mother-in-law of a well-known business executive was found dead in her bathtub. She was fully clothed, high heels still on her feet. It was just the beginning of a mystery her family is trying to unwind — a mystery that involves a business associate cum social companion and a $15 million life insurance policy.

Florida residents got some good news this week, right in the middle of hurricane season, when fears of flood damage and insurance claims are high in the state. The U.S. House of Representatives approved a one-year reauthorization of National Flood Insurance Program (NFIP). Because the Senate had approved the renewal earlier, the measure now goes to President Obama for his signature.

The National Conference of Insurance Legislators (NCOIL) has proposed a model law that would strengthen protections of terminally ill and elderly patients. The law relates to another law proposed by the group earlier this year. Model laws are not guaranteed to be introduced in state legislatures. For Florida to enact these proposals, each model law must be championed by a state senator or state representative who will then see it through the legislative process.

Prudential may find itself sitting across from 60,000 military families when it answers charges of improperly collecting interest on life insurance benefits. Attorneys are considering adding fraud charges to the suit, as well.