November 21, 2004 |
Water causes nearly a half-billion dollars of insured damage inside California homes each year, according to a continuing study by the Insurance Information Network of California. The number of household water damage claims is on the decline, but the average cost of water claims continues to climb. The 81,518 claims reported by the companies surveyed resulted in $428.5 million in insured losses in 2003, the first decline in costs since water claims data became available in 1997.
January 8, 2006 |
A national coalition dedicated to preparing Americans for natural disasters recently launched a California affiliate in Sherman Oaks, pledging to create a fund for people without enough insurance. James Lee Witt, former director of the Federal Emergency Management Agency, and retired Adm. James M. Loy, former deputy secretary of the Department of Homeland Security, co-chair the national coalition ProtectingAmerica.org. The new affiliate, ProtectingCalifornia.
November 1, 2012 |
Estimates of the economic losses caused by Hurricane Sandy earlier this week reached $50 billion as experts assessed the costs of severe property damage, shut-down subways and power outages. On Thursday, Eqecat Inc. said it expects storm-related losses to fall between $30 billion and $50 billion. Of that, $10 billion to $20 billion will be insured, according to the firm, which calculates estimates for insurers. Earlier this week , Eqecat had said that damages could reach $20 billion, with up to $10 billion in insured losses.
CALIFORNIA | LOCAL
December 19, 2001 |
Multiple pleas were made Tuesday urging homeowners to meet the Dec. 31 deadline to reopen claims stemming from the 1994 Northridge earthquake. Policyholders unsatisfied with the outcome of insurance claims submitted before Jan. 1, 2001, have less than two weeks to file a lawsuit against their insurance company. A state law, which resulted from passage of Senate Bill 1899, lifts the typical one-year statute of limitations that homeowners have to sue insurers over the handling of their claims.
CALIFORNIA | LOCAL
May 17, 2003 |
A federal grand jury has indicted six people on charges of falsifying claims for unemployment insurance. The residents from the San Joaquin area were charged with possession of stolen Social Security numbers in an 80-count indictment as part of an ongoing investigation into phony unemployment insurance claims. Last week, 13 people, most from the Sanger-Reedley area, were named in an 84-count indictment charging conspiracy, mail fraud, identity theft and money laundering.
September 6, 1985
The insurance group said it lost $259 million underwriting insurance that year, more than four times the $59 million that it lost the year before. Under its unusual accounting methods, Lloyd's keeps its accounts open for three years to ensure that all insurance claims arising from its policies are fully reflected. The insurance market was at its ebb in 1982, when a stream of casualty and general liability claims, particularly from the United States, put profits under pressure.
October 22, 1998 |
Former Secretary of State Lawrence S. Eagleburger has been chosen to chair an international commission formed in an attempt to resolve disputed insurance claims stemming from the Holocaust. The action was taken in New York at the commission's first meeting.