CALIFORNIA | LOCAL
February 21, 1993 |
Agoura Hills residents whose homes were damaged by last week's fierce storms accused the city Saturday of lack of support during the crisis. They also said they are frustrated by statements from city officials that the property owners are probably responsible for the damage. At a news conference, the homeowners said they have spoken with attorneys to try to determine whether anyone else can be held liable. One of the lawyers the homeowners consulted was Richard D.
December 23, 1992 |
Allstate Insurance Co. has agreed to pay an unprecedented $1-million fine to settle charges brought by the state Department of Insurance that it mishandled claims from the devastating 1991 fire in the Oakland and Berkeley hills, the agency said Tuesday. The department had charged in September that Allstate delayed coming to terms on replacement costs with some customers and put them through an arduous process of getting estimates.
CALIFORNIA | LOCAL
August 25, 1992 |
An insurance consultant Monday concurred with an earlier opinion that the Queen Mary needs millions of dollars in immediate repairs and improvements to make it safe for tourists and employees. The risk management division of consultant Towers Perrin also recommended that the city of Long Beach or the vessel's operator carry at least $20 million of coverage to protect against huge losses should there be a disaster on the ocean liner.
May 5, 1992 |
Many San Fernando Valley-area businesses affected by the rioting of the past several days tried to assess the financial impact Monday and organize efforts for a smooth transition back to normal operations. Local banks began contacting business customers in affected areas to offer assistance in seeking financial aid to recover from the damage caused by fires, looting and vandalism. Insurance companies started processing claims and sending adjusters to inspect damage.
October 31, 1991 |
The devastation of Oakland's fires last week should prompt consumers to review their homeowners' or renters' insurance to make sure their policies are up to date and provide adequate coverage. And experts are encouraging policyholders to make a detailed inventory of their home's contents. "It's very important to keep an inventory," says Robert Hunter, president of the National Insurance Consumer Organization (NICO), an educational organization for consumers based in Alexandria, Va.
June 21, 1991 |
David Ean Coleridge, once arguably the envy of the British business set, is decidedly more grim these days. In a week, he'll announce that Lloyd's of London--the giant British insurer--posted a loss for the first time in more than 20 years. And it's a doozy. Coleridge, Lloyd's chairman, won't yet reveal the exact figure, but the British press has pegged it at more than 300 million pounds--about $460 million U.S. dollars at current exchange rates.
January 14, 1990 |
Plans are under way to build Spokane's first computer disaster-recovery site where companies with mainframe computers disabled by fires and other disasters can be back in business in 48 hours or less. Rita Harvey, owner and president of DCS Data Center Systems Inc. of Spokane, said she will break ground in February on a climate-controlled building at Spokane Industrial Park and hopes to be in business in June. The center, she said, will fill a need now met by out-of-state companies.
December 11, 1989
Question: What is earthquake insurance? Answer: Earthquake insurance is an amendment added to homeowner policies, which normally exclude earthquakes as a covered risk. The amendment, or "rider," costs $150 to $400 a year for $100,000 of coverage, and it typically is available in amounts ranging from $100,000 to $500,000. However, the benefit is paid only after earthquake damages exceed 10% to 15% of the insured amount, not the damage total.