A bill proposed in the Texas Senate seeks to limit how Texas insurance policy holders can file lawsuits against insurers. State Senator Larry Taylor, R-Friendswood, introduced Senate Bill 1628 last month. The bill would, according to Senator Taylor, “rein in hailstorm lawsuits” and other suits filed by Texas insurance policy holders against insurers who fail […]
Homeowners can expect to see their premiums for federal flood insurance rise by as much as 25 percent. A statement by the Federal Emergency Management Agency said that up to a million homeowners can expect to see increases in their annual flood insurance premiums. A spokesman for the agency, which manages the federal flood insurance […]
A new bill proposed in the Texas Legislature may allow insurers to drag out the process of paying legitimate Texas homeowners insurance claims. House Bill 3646 contains some major revisions to the Texas homeowners insurance code. These changes include changing the deadlines for responding to claims from “consecutive days” to “business days,” as well as […]
A new bill that would bring sweeping changes to Texas property insurance law has raised the concerns of homeowners. House Bill 3646 seeks to revise the current Texas property insurance code and promises to protect policy holders from “unfair and deceptive practices.” However, some industry observers have noted that the changes would give some substantial […]
Two proposed bills in the Texas Legislature seek to limit when and how policy holders can file property insurance claims. House Bill 3646 and Senate Bill 1628 propose to institute changes to the Texas Insurance Code that would add “consumer protection” for policy holders seeking to file property insurance claims. However, some of the language […]
Wild weather patterns are expected to drive up homeowners insurance claims across the country. Winter storms in New England, some of which dropped a foot or more of snow across the region, are expected to produce a record number of homeowners insurance claims. The melting snow may also produce a high number of flood and […]
The Federal Emergency Management Agency announced that Kentucky residents will see higher flood insurance rates this year. Residents in the flood zones in Cumberland County will not only pay more in flood insurance premiums, but both residential and business property owners will also pay additional renewal fees. The changes will also expand the flood zones […]
A New Jersey couple filed a homeowners insurance lawsuit alleging that their insurance provider manipulated data in its software program to shortchange their Hurricane Sandy damage claim. Charles and Beverly Mooney filed their homeowners insurance lawsuit in federal court against Selective Insurance. The couple stated that Selective defrauded them out of the sales tax for […]
The Federal Emergency Management Agency announced that it would review the underpayment of flood insurance claims made to victims of Hurricane Sandy. The agency will examine the allegations made by hurricane victims of underpayment from the National Flood Insurance Program. A FEMA spokesman also promised to investigate the agency’s handling of the flood insurance claims, […]
A little-known clause in many homeowners insurance policies can prevent the policy holder from directly accessing the funds from their claims. Instead of making the check out directly to the homeowners insurance policy holder, the insurance company makes it out to the bank that holds the homeowner’s mortgage. This clause can leave homeowners waiting on […]