Citizens Property Insurance is scaling back a proposed rate hike after lawmakers and Florida Gov. Ron DeSantis approved an overhaul that the state-backed insurer has long pursued. Members of Citizens’ Actuarial and Underwriting Committee advanced a plan Tuesday to the full Board of Governors to lower a proposed average residential premium increase from 8.2 percent… Continue reading Citizens Insurance Reduces Rate Hikes
Tag: homeowners insurance
Travelers Offers Wildfire Defense Services Endorsement to California Customers
The Travelers Companies, Inc. today announced it is including a Wildfire Defense Services endorsement in all California home and landlord policies. The endorsement, included at no additional cost to the policyholder, helps provide an added layer of wildfire protection for customers. Travelers is working with Wildfire Defense Systems (WDS), a private firm that specializes in… Continue reading Travelers Offers Wildfire Defense Services Endorsement to California Customers
Tornado Cuts through Kansas City Area Leaving Path of Destruction
A powerful tornado chewed across the Kansas City, Kan., area for more than an hour Tuesday evening, damaging homes, downing trees and injuring at least 12 people, officials said. The storm cut a path of destruction for at least 35 miles from Overbrook, Kan., to Bonner Springs, Kan., said Jonathan Kurtz, a meteorologist with the… Continue reading Tornado Cuts through Kansas City Area Leaving Path of Destruction
Tornadoes Leave Trail of Destruction in Ohio
Powerful tornadoes swept through Ohio Monday night, leaving a path of destruction in Dayton and at least one person dead in a small town 60 miles to the north, officials said. The storm that struck the north side of Dayton hit around 11 p.m., National Weather Service officials said, leaving a miles-long path of devastation… Continue reading Tornadoes Leave Trail of Destruction in Ohio
Chubb Launches New Home Accessibility Risk Consultation Service
A new survey from Chubb finds that the majority of homeowners are underestimating the likelihood of disability, especially during retirement years, and the impact it can have on their everyday life. Despite the fact that the Centers for Disease Control and Prevention reports that one in four U.S. adults lives with a disability, Chubb’s “Home… Continue reading Chubb Launches New Home Accessibility Risk Consultation Service
Lightning Dangers Emphasized During Building Safety & Electrical Safety Months
With the summer storm season just ahead, building managers and owners must be ready to protect lives and property against lightning strikes, says the Lightning Protection Institute, a not-for-profit, nationwide group dedicated to promoting lightning awareness, education and safety. “Lightning strikes the U.S. about 25 million times a year, according to the National Weather Service,… Continue reading Lightning Dangers Emphasized During Building Safety & Electrical Safety Months
Architects, Builders Hear New Buyer Mantra: Safety, Resilience
Breezy Point is beautiful in the summertime, a quaint neighborhood sitting on a slim peninsula that juts out into the Atlantic just south of New York City. In a storm, though, that dreamy setting can become a nightmare. Breezy Point was devastated by Hurricane Sandy in 2012. Flooding, high winds and fires destroyed more than… Continue reading Architects, Builders Hear New Buyer Mantra: Safety, Resilience
Homeowners Fault Government for Hurricane Harvey Damage
With lush parks, solid schools nearby and its proximity to Houston, the Cinco Ranch planned community seemed the perfect place for Elisio and Ana Soares to buy a house after moving to the U.S. from Brazil. But only after Hurricane Harvey swamped their dream home in August 2017 with 7 inches of water did the… Continue reading Homeowners Fault Government for Hurricane Harvey Damage
PG&E Faces SEC Investigation Related to Wildfire Accounting
PG&E Corp. said the Securities and Exchange Commission has opened an investigation into the company’s disclosures and accounting for losses related to California wildfires. The investigation, tied to fires in 2015, 2017 and 2018, represents a new problem for the troubled utility, which filed for bankruptcy protection earlier this year, citing wildfire-related liability costs. It… Continue reading PG&E Faces SEC Investigation Related to Wildfire Accounting
$600K Miami-Dade Home Insurance Fraud Scheme Dismantled, Officials Say
An insurance fraud scheme in Miami-Dade – the type of scam that leads to increased insurance premiums for all consumers – has been dismantled, according to officials. Nine people have been arrested over the $600,000 Miami-Dade homeowners insurance fraud scheme. The arrests were the result of a year-long fraud investigation named “Operation Rubicon.” “Arrests include… Continue reading $600K Miami-Dade Home Insurance Fraud Scheme Dismantled, Officials Say