A statistic that made headlines in early April in regards to Florida’s insurance crisis may be incorrect in the context it was applied, according to one expert. The report that concluded “Florida homeowners file 76% of property insurance lawsuits in the U.S.” was done by the Florida Office of Insurance Regulation and sent to legislatures […]
FL Lawmakers Are Being Misled On Insurance Crisis Read More »
Several updates made to HB 305 could create additional loopholes that incentivize carriers to underpay valid property damage claims. This bill was originally introduced to curb litigation which proponents say a primary cause for the premium increases across the state. Related: FL Lawmakers Are Being Misled On Insurance Crisis One way legislatures are using HB
FL Insurance Carriers Can Underpay Claims By 20% Without Penalty Read More »
Two FL insurance bills, HB305 and SB76, were introduced in January of this year to indirectly lower homeowners insurance premiums. Three months later, both bills have made their way through the FL Senate and several last-minute additions have been added. If passed, the changes proposed in HB305 and SB76 would go into effect on July
HB 1433 will keep MRP’s out of Texas. Everything is bigger in Texas, especially when it comes to hail and severe weather events. In fact, Texas continually ranks #1 for most natural disasters each year. Property damage insurance is a critical part of living in the Lone Star State – as is the ability for
Florida policyholders have been promised lower insurance rates for years by legislators and lawmakers. As recently as 2019, a new law went into effect that aimed to reform the market and make coverage affordable. Known as the “AOB Law,” it was the most heavily lobbied bill during the session. It was primarily supported because carriers
The roof reimbursement schedule proposed under SB76, HB 305, will leave Florida policyholders picking up the tab for what property insurance should cover. If the current legislation passes, homeowners with roofs 10+ years or older could lose coverage, have to pay out of pocket for repairs, or be forced to get a brand new one.
The Roof Reimbursement Schedule Impact FL Policyholders Read More »
To help consumers and small businesses receive equitable payments on insurance claims, Rep. La Shawn K. Ford is sponsoring legislation to help policyholders get fairly reimbursed for experts and consultants who help them make their case. “The passage of House Bill 142 would be a huge win for Illinois insurance policyholders,” said Rep. Ford, D-Chicago.
The American Adjuster Association has a clearly defined message for what they are trying to accomplish for policyholders: Fairness and Balance. In short, equitable solutions for policyholders that have been underpaid on claims. Our message has been heard by members of the Illinois legislature, a very challenging state to get pro-consumer legislation. State Farm, Allstate,
Illinois HB0142 Seeks Fair & Balanced Payments For Property Damage Claims Read More »
Insurance claim complaints are common after any catastrophic weather event. A high number of policyholders filing claims and a limited number of adjusters can cause longer turnaround times, rushed inspections, and overall delays in the process. Insurance carriers are required to meet specific deadlines once a claim is filed but what happens when they don’t
Derecho Complaints Skyrocket 80% After News Story Read More »
A growing trend among insurance carriers to use unlicensed, untrained “professionals” to assess damage and work insurance claims could get a whole lot worse. A recent report put out by McKinsey and Company notes how carriers can increase profit by moving as much as “30% of their workforce to outside vendors”. What do they mean
Why Are Unlicensed “Professionals” Adjusting Claims? Read More »
