Tag Archives: National Association of Insurance Commisioners

Assignment of Benefits Contracts are the Hot Topic of Discussion and Legislation in Florida, North Dakota and Elsewhere

Merlin Law Group knowledge manager Ruck DeMinico sent me recent North Dakota legislation pertaining to Assignment of Benefit contacts. This topic was also hotly debated two weeks ago at the Windstorm Insurance Conference in Orlando. Insurance restoration contractors, their lobbyists and attorneys are desperately trying to prevent any changes that would make such contracts more … Continue Reading

Matching Protections for Hurricane Irma Claims in Florida

In 1990, the National Association of Insurance Commissioners adopted a new section to its model regulations relating to unfair property claims.1 Section 9 of the model regulation provides:2 A. When the policy provides for the adjustment and settlement of first-party losses based on replacement cost, the following shall apply: *** (2) When a loss requires … Continue Reading

New Jersey Denied Property Damage Claims

If your home or business is affected by a disaster and you have purchased property damage insurance, you may immediately feel a sign of relief. That relief could be fleeting, upon a discovery that the promptly submitted insurance claim has been denied. Immediately you realize there are statutes and regulations that protect consumers from wrongful … Continue Reading

Contents Inventory Smart Phone App and Documenting Your Personal Property, Part II

Last week’s post featured the new smart phone app that helps insureds quickly capture information needed to document their personal property before a loss. This week, I have written about the organization that created the app — The National Association of Insurance Commissioners — and their recent connection with United Policyholders.… Continue Reading

Contents Inventory Smart Phone App and Documenting Your Personal Property, Part I

Yes, there is an app for that. The National Association of Insurance Commissioners has created a phone application that was designed to quickly capture images, descriptions, bar codes, and serial numbers to make a contents inventory for homes or businesses before disaster strikes. This free app allows iPhone and Android users to organize information by … Continue Reading

Insurers Sacrifice Customers for Profit

On December 13, 2011, The Huffington Post published an article all policyholders should read and heed. It is important to know how the insurance industry is making money by delaying claims and how it has shifted from a service industry to an industry that is driven by profit. It’s time for each state’s Department of … Continue Reading

Holiday Gift from Insurance Companies to Texas Residents? Higher Insurance Rates!

As is their custom, several major insurance companies have recently announced that they will be raising Texas insurance rates across the board. Last month, the Houston Chronicle reported that Farmers Insurance plans a 3.9 percent statewide hike that will affect about 324,000 Texas customers. Farmers stated that the increase was “in response to increasing costs … Continue Reading

Nationwide Continues its Removal From Florida Property Insurance Marketplace

The exodus of the larger national multiline carriers along coastal areas continues. Nationwide has reportedly filed a plan to non-renew 60,000 property insurance policies in Florida starting next July. Unlike State Farm, however, Nationwide Insurance Company has made arrangements with Tower Hill Insurance Group out of Gainesville, Florida, to accept all 60,000 policies.… Continue Reading
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