During our Tuesdays at 2 With Chip series with Kelly Kubiak and myself, we warned of the upcoming September 10th statutory deadline to file claims for recovery from Hurricane Irma damage. We predict that this is going to provide all sorts of litigation regarding this statute because many policyholders—especially policyholders with claims disputes which delayed initial payment—are not finished with their construction and still finding hidden losses from Hurricane Irma.
Continue Reading The End is Near—Hurricane Irma Claim, Supplemental Claim and Re-opened Claim Deadline is September 10, 2020

Florida’s Insurance commissioner made the news a little over a week ago when his testimony, which you can watch above, indicated some bewilderment about why so many claims are still open a year after Hurricane Michael struck Florida’s Panhandle. Over 18,000 claims are reported as open.
Continue Reading Hurricane Michael and Irma Policyholders with Outstanding Claims Should Help Florida’s Insurance Commissioner Explaining The Mystery of Their Open Claims

For some time now, people have been keeping a close eye on several of Puerto Rico’s major insurance carriers due to rumors of insolvency. One of those insurance carriers, Real Legacy Assurance, has unfortunately confirmed these rumors and recently filed for liquidation. According to reports, the carrier has paid nearly $40 million dollars to settle approximately 630 claims – however, many more Hurricane Irma and Maria claims remain unresolved.1
Continue Reading Puerto Rico Update: Real Legacy Confirms Rumors of Insolvency – What’s Next?

A raíz de la catástrofe causada por los huracanes Irma y María, surgió la necesidad de revisar el proceso de reclamaciones ante las aseguradoras en aras de hacer este uno más eficiente. Es por esto que, el gobierno ha trabajado en métodos que ayudarán a mejorar los procedimientos de manejo de reclamaciones ante las aseguradoras. Siguiendo múltiples modelos de varias jurisdicciones de los Estados Unidos, los asegurados en Puerto Rico ahora tendrán herramientas adicionales de protección y que facilitarán la resolución de sus reclamaciones, tanto de propiedades residenciales como aquellas que sean comerciales. Recientemente, el Gobernador aprobó enmiendas al Código de Seguros de Puerto Rico para su inmediata aplicación. Dichas enmiendas pretenden solucionar el atraso y aclarar las ambigüedades que han afectado el proceso de recuperación y resolución de reclamaciones de forma justa y adecuada para el consumidor. A continuación, un breve resumen de las enmiendas realizadas al Código de Seguros ahora disponibles para el beneficio de los asegurados en Puerto Rico:
Continue Reading Puerto Rico Aprueba Enmiendas Al Código de Seguros Para Proteger A Los Asegurados Y Mejorar Los Procedimientos Para Solucionar Reclamaciones

After the catastrophe caused by Hurricanes Irma and Maria, there was a need for an efficient recovery process. The government has worked on methods to improve the way insurance claims are handled. Following models from multiple jurisdictions in the United States, Puerto Rico will now have available more protections and resolution methods for property and commercial policyholders. Several amendments to the Puerto Rico Insurance Code have been approved and signed for immediate application to help solve the delay and ambiguity that has affected the process of recovery. Below is a brief summary of each amended law now available for the benefit of policyholders in Puerto Rico:
Continue Reading Puerto Rico Approves Amendments to the Insurance Code to Protect Policyholders and Improve Claim Handling Procedures

September 10, 2018, marked the one-year anniversary of the landfall of Hurricane Irma in Florida. According to the National Oceanic and Atmospheric Administration, the estimate of the damage caused by Hurricane Irma is $50,000,000,000.1 Well over a year since its devastation across the state, Floridians remain resilient and committed to rebuild their lives.
Continue Reading How Long Does It Take For An Insurance Company To Pay Out A Property Insurance Claim In Florida?

The Florida Office of Insurance Regulation recently released updated data from Hurricane Irma.1 A quick review of the data paints an interesting picture. While we all know that Irma did substantial damage in Florida, the sheer size of the numbers is still daunting. Almost one million claims have been reported (997,237) totaling over $10,000,000,000.00 in estimated damage. These are the numbers self-reported from insurers.
Continue Reading Hurricane Irma Claims Data Update

If your home or business was damaged by flood waters from Hurricane Irma and you had flood insurance through the National Flood Insurance Program (NFIP) the deadline to submit a proof of loss is quickly approaching. The Standard Flood Insurance Policy (SFIP) provides that a proof of loss must be submitted within 60 days of the loss. However, FEMA Bulletin W-17040 waived the 60-day proof of loss deadline, extending the deadline to submit a proof of loss to 365 days (one year) from the date of loss.
Continue Reading Hurricane Irma NFIP Proof of Loss Deadline is Quickly Approaching