Oklahoma Coverage Series

I recently blogged about predictions for a lighter storm season this year in the southern United States. It is a good thing I closed by saying “don’t get too excited about this prediction.” On the heels of that blog tornadoes hit the Moore, Oklahoma area again on the evening of March 25, 2015. Governor Mary Fallin declared a state of emergency in 25 counties affected by tornadoes, severe thunderstorms and straight-line winds.1

Continue Reading State of Emergency Declared As Tornadoes Hit Moore, Oklahoma Area Again: Oklahoma Coverage Series

With a major earthquake recently hitting California, it seemed an appropriate time to revisit earthquake insurance coverage issues. A report indicates that earthquake risks are rising in the U.S., but fewer homeowners nationally say they have earthquake insurance. This creates a potentially huge gap in coverage, according to the Insurance Information Institute.1

Continue Reading As Earthquake Risk Rises, Policyholder Coverage Declines – Oklahoma Coverage Series

A new federal earthquake map shows an increased risk for about half of the United States.

Although I’ve previously posted on the increased earthquake risk in Oklahoma, this newly released data made a reminder seem reasonable. On July 17, 2014, the U.S. Geologic Survey updated its national seismic hazard maps for the first time since 2008, taking into account research from the devastating 2011 earthquake and tsunami off the Japanese coast and the 2011 Virginia temblor.1

Continue Reading New Survey Map Shows Increased Earthquake Risk For Nearly Half Of United States – Oklahoma Coverage Series

In Gutkowski v. Oklahoma Farmers Union Mutual Insurance Company,1 the insurance carrier (Farmers) found that the policyholder’s roof warranted a complete replacement due to hail damage. Farmers only agreed to pay for the "direct physical loss to the composition shingles," though, and not the "decking to which the composition singles were attached."2 Farmers argued that, pursuant to the applicable policy language, the decking surface did not sustain a direct physical loss as a result of the hail storm.

Continue Reading Are the Necessary Components Making Up a Roof Divisible and Separate?

Perhaps a surprising thought at first blush, but Oklahoma residents have recently been advised to make sure Earthquake Coverage is included in their property damage insurance. The United States Geological Survey – the entity that tracks earthquakes and other seismic activity – released a statement indicating there are almost as many earthquakes rattling Oklahoma as California this year. This major increase in seismic shaking led to a recent and rare earthquake warning in Oklahoma from both the USGS and the Oklahoma Geological Survey.

Continue Reading Do I Need Earthquake Coverage…In Oklahoma?!? – Oklahoma Coverage Series

As Steve Jakubowski, President of Impact Forecasting, recently noted, "Historically, May is the beginning of peak tornado season in the United States."1 Since that means tornado season remains in full swing at this point, this installment of my Oklahoma Coverage Series will address whether Oklahoma policyholders have enough coverage.

Continue Reading During Peak Tornado Season, Do Oklahoma Policyholders Have Enough Coverage? – Oklahoma Coverage Series

In a recent news article published in The Oklahoman, the headline trumpeted “Oklahoma Led Nation In Natural Disaster Insured Losses In 2013.”1 Based on reports we receive, though, it seems an accurate subtitle would have read “But Was It Enough?” In this first installment of my Oklahoma Coverage Series, I’ll take a look at some disturbing trends being reported as to the manner in which some insurance carriers are treating Oklahoma policyholders.

Continue Reading Oklahoma Policyholders Receive Nearly $2 Billion In 2013; But Was It Enough? – Oklahoma Coverage Series