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Hurricane insurance claim deadline looms

February 21, 2013February 19, 2013 H. Cutner

Policyholders who intend to make a claim related to flooding from Isaac must do so by today. Today marks the last day in which residents of Louisiana will be able to make hurricane insurance claims relating to losses from flooding that occurred as a result of Isaac. The National Flood Insurance Program has already applied three extensions to this deadline. Typically speaking, hurricane insurance for flooding has a claims deadline of 60 days from the time of the loss itself. However, the NFIP has given three different extensions to provide…

Louisiana health groups file lawsuit concerning health insurance

September 19, 2012 S.Vagus

Insurance Commissioner Jim Donelon - Insurance News

Health groups argue Insurance Commissioner overstepped boundaries in regard to health insurance laws Two health care groups in Louisiana have filed a lawsuit against Insurance Commissioner Jim Donelon concerning his actions in the wake of Hurricane Isaac. The groups – Louisiana State Medical Society and the Louisiana Hospital Association – argue that the Insurance Commissioner exaggerated his authority as a response to the natural disaster. The lawsuit cites the changes the Commissioner made to health insurance regulations and coverage due to an emergency ruling that granted him with expanded authority.…

Homeowners insurance will likely not be impacted by Isaac

September 18, 2012September 18, 2012 Julie Campbell

Homeowners flood Insurance hurricane sandy damage

It isn’t likely that premiums will change due to the hurricane in Louisiana. According to Louisiana’s insurance commissioner, Jim Donelon, the odds that hurricane Isaac will have any impact on the premiums paid by residents of the state in order to cover their homes is very slim. Donelon stated that it is now estimated that insured damage from Isaac will total $500 million to $1.5 billion. Hurricane Katrina was by far the most costly in terms of homeowners insurance costs. It brought in a total of $25 billion in damages. Rita…

Hurricane Isaac leads to out-of-pocket expenses in Louisiana

September 12, 2012April 30, 2013

Hurricane Isaac spurs unexpected expenses Louisiana continues to struggle in the wake of Hurricane Isaac, which struck the state and other in late August. Insurers and state officials have been working to repair the damage caused by the storm and assist those that have been displaced by the disastrous floods it caused. While state residents continue to piece their lives back together, they may soon face new problems from the state’s insurance industry. Insurance Commissioner Jim Donelon has announced that consumers can expect to see higher out-of-pocket expenses as a…

Thousands of flood insurance claims coming from Louisiana in wake of Isaac

September 11, 2012September 11, 2012 Nordstrom

State announces thousands of flood insurance claims generated by Hurricane Isaac Hurricane Isaac has come and gone and the storm has left devastating floods in its wake. Louisiana was struck hard by these floods, with many of the state’s southern counties being inundated with water. According to Insurance Commissioner Jim Donelon, thousands of flood insurance claims have been generated by the storm, many of which coming from throughout the state. State officials note that a scant 31% of Louisiana residents have flood insurance coverage, leaving many with damaged property without…

Homeowners insurance through Citizens in Louisiana is hanging in there

September 10, 2012April 30, 2013

Isaac claims have left the last resort insurer in pretty good shape. Though Hurricane Isaac certainly left its mark and was considered to be a “fairly significant event” for the homeowners insurance of last resort, Louisiana Citizens Property Insurance Corp., the insurer was still able to cover the claims that came in and had the resources that it needed ready and waiting. This insurance news was released by Richard Robertson, the insurer’s chief executive. Citizens is the homeowners insurance company that sells its policies to people within the state who…

Hurricane insurance predictions place losses from Isaac at up to $1.5 billion

September 7, 2012April 30, 2013

The storm brought severe wind and rains to many parts of several states. When Isaac made landfall and then passed through New Orleans, it left a swath of onshore damages that current estimates are predicting to bring hurricane insurance losses of between $500 million and $1.5 billion. This disaster modeling firm prediction applies to the losses in Louisiana alone. Though Isaac wasn’t one of the most damaging that the state – or the country – has seen, it still managed to wreak havoc to homeowners and businesses alike. It caused…