The recent news that Colorado State University plans to shut down Professor Emeritus William Gray’s hurricane predicting center should not come as a surprise. The center has for many years been funded by the insurance industry and served its purpose of whipping the press into a frenzy so that the insurance industry could rake in billions of …
Disputed hurricane and windstorm insurance claims have been a common occurrence in Florida and the southeast U.S. Unfortunately, businesses and residents in New York and New Jersey face the prospect of similar coverage battles after the waters from Sandy subside. The destruction left by post-tropical storm Sandy may not rival Hurricane Katrina, but likely will …
Today marks the official start of hurricane season, and what more appropriate way to kick off the season than with a new decision from the Florida Supreme Court involving damage to a Boca Raton condo building from Hurricane Wilma, the last major hurricane to hit Florida. Yesterday’s decision in QBE Insurance Corp. v. Chalfonte Condominium …
In my previous post on HB 245, I described the Florida legislature’s efforts to depopulate Citizens by allowing surplus lines carriers to pluck policies from Citizens. The legislation at the time allowed surplus lines insurers to take a policyholder out of Citizens unless that policyholder objected and opted out of the new surplus lines coverage. …