June 22, 2010

 March 14 (Bloomberg) – The collapse of the subprime mortgage market will lead to record losses for insurance companies, overtaking Hurricane Katrina, the worst natural disaster in U.S. history.

The amount of asset writedowns and credit losses reported by the industry has reached at least $38 billion, just short of the $41.1 billion in claims from Katrina, which killed more than 1,...

June 22, 2010

At first glance, Allstate's release of documents it has zealously guarded for more than a decade as ''trade secrets'' could be seen as an orchestrated move to keep Florida regulators at bay and let the company keep writing new policies.

Earlier this month, Allstate posted on its website 150,000 pages of documents — mostly PowerPoint presentations and company reports prepared by...

As posted at:
June 22, 2010

Even though it's been six months since wildfires ravaged more than 1,600 homes in the San Diego area, only a handful have begun to rebuild. That's because for many wildfire survivors, dealing with their insurance companies was like a second disaster. Reporter David Nogueras has more.

Jeanette Stratton returned to her San Pasqual neighborhood six months ago to find her three bedroom, two...

As posted at:
June 22, 2010

The Supreme Court struggled last week with how much weight to give an
insurance company's potential conflict of interest when it denies an
employee's health or disability benefits claim.

The lawyer representing the Ohio woman who sued MetLife Inc. over a
disability claim argued that insurance companies have a financial
incentive to deny claims. That conflict of...

June 22, 2010

Earthquake, typhoon, wildfire.

“What I see from other parts of the world, even the nation, I
think California could learn more,” reflected University of California,
San Diego Professor José Restrepo. The director of Operations for the
Charles Lee Powell Structural Laboratories lived through a 7.2 magnitude
earthquake in Columbia in 1979, which fueled his...

As posted at:
June 22, 2010

Scores of Witch Creek fire victims are learning they do not have
enough insurance to rebuild an equivalent home.

Valerie Brown, RB United project coordinator, said at least 110
families she is helping navigate through the recovery process have
discovered their homes were 30 to 50 percent under-insured.

Because not all local fire victims are registered with RB...

As posted at:
June 22, 2010

Los Angeles, CA (AHN) - A survey by United Policyholders slated for release Friday states widespread underinsurance of properties in California, unveiled by the recent wild bushfires.

The San Francisco-based consumer organization surveyed 274 residents on the extent of the damage the wildfires caused on their properties. Three-fourths of the survey respondents said they were...

June 22, 2010

Are policies adequate to help make homeowners whole?

 

June 22, 2010

Hundreds of people who lost homes in last year's wildfires did not
have enough insurance to cover their rebuilding costs, according to a
survey sponsored by United Policyholders, a San Francisco consumer
organization. The survey asked 274 people about the losses they incurred
in the wildfires that last fall swept across Southern California.

Three-quarters of...

June 22, 2010

 

Commissioner Hosts Wildfire Preparedness and Mitigation Roundtable with Insurance Industry, Consumer Groups and Fire Officials in San Diego

SAN DIEGO: After bringing together insurance industry executives, consumer groups and fire officials to discuss preparations for future potential fire disasters, Insurance Commissioner Steve Poizner announced an effort to create economic or...