It has been almost two years since Hurricane Irma hit and eight months since Hurricane Michael. While some Florida policyholders are still waiting for a decision from their insurance company, the majority of claims have either been paid or denied
A Florida appellate court issued a significant opinion for Florida’s policyholders. In Himmel v. Avatar Property & Casualty Insurance Company, the Fourth District Court of Appeal reversed a summary judgment a trial court had entered against an insured for failing to comply with the conditions in the insurance policy and ruled there were factual issues
The upcoming date of September 10, 2018 is an important one for Florida’s policyholders as it is the anniversary of Hurricane Irma. It also means policyholders only have two more years to report their Hurricane Irma claim, supplemental claim, or re-opened claim. In 2011, Florida’s legislature passed a law that limited the amount of time for insureds to
With Florida’s largest homeowner’s insurance company scoring a D rating in a recent financial analysis, many may be left wondering what happens in the event their insurance company is unable to pay their claims. To protect policyholders during an insurance company’s financial collapse, the legislature created the Florida Insurance Guaranty Association
Assignments of Benefits (or AOB’s) have been a thorn in the side of insurance companies for the past several years. For those unfamiliar with the practice, certain professionals such as emergency mitigation contractors will require an assignment of insurance benefits from homeowners before they perform any services. Once the company completes their
Upon your insurance policy renewal, you may recall receiving a letter from your agent or insurance company outlining the changes to your policy for the renewal term. As an example, my insurance company recently advised me that I no longer have coverage for damages caused by “marsupials”. While this small change may seem insignificant, insurance companies
The mounting number of property insurance claims following Hurricane Irma has provided new challenges for Florida’s insurance companies. With close to one million hurricane claims filed across the state, insurance companies are looking towards alternative methods to resolve claims. As an alternative to litigation, insurance companies are increasingly
Weiss Ratings, an independent ratings agency, released its 2018 grades for property insurance companies doing $100 million or more premium business in Florida. The ratings are based on whether the insurance company is financially prepared for the 2018 hurricane season. The insurers that scored a Weiss Safety Rating of “A” include Cincinnati Insurance Co.
Here we are just about one month away from the one year anniversary of the hurricane known as Irma. As it approached the southern tip of Florida, it roared with the ferocity and breadth of the monster of all hurricanes. Even though it quieted somewhat by the time it made landfall in Cujo Key, it was still a devastating Category 3. Thereafter, it literally
As hurricane season resumes for 2018, businesses should prepare for disruptions to networks, critical databases, as well as electrical power sources, telecommunications systems, and other utilities which can compromise or destroy critical infrastructure and trigger significant losses. Businesses should also take stock of their insurance coverages and
Over the last few years, Florida policyholders have seen an increasing trend of insurance companies relying on wind-driven rain exclusions. Many policies now exclude rain damage to the interior of a home or business unless an “opening” first occurs in the roof from wind or hail. Commonly, the insurance company will argue it is an insured’s burden to prove
On June 12, 2018, the Office of Insurance Regulation (“OIR”) released an update on Hurricane Irma claims data received by insurers. The total number of reported Hurricane Irma claims has reached 978,767 with losses totaling an estimated $9,701,252,056. Of those claims, OIR reports that 823,733 are for residential properties and 58,544 for commercial
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