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Mississippi Law Journal - Hurricane Katrina Special Edition |
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Thursday, 01 May 2008 |
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Check
out the special edition of the Mississippi Law Journal, including Gene
Taylor's article about the urgent need for federal insurance reform.
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State Farm abandons Alabama Coast & New Jersey Shore |
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Thursday, 01 May 2008 |
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A
few months before Hurricane Season, State Farm announced that it was
abandoning coastal Alabama and the New Jersey shore. They had already
pulled out or severely restricted underwriting in most other Gulf and
Atlantic States.
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State Farm disses other insurers in Florida |
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Thursday, 01 May 2008 |
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In
Florida, it seems that State Farm is dropping customers and then
warning them not to buy policies from other private insurers.
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Reinsurers Gouge Texas Wind Pool |
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Thursday, 01 May 2008 |
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The
chart in the attachment below clearly demonstrates why the reinsurance
industry is leading the opposition to Congressman Taylor's proposal to
allow the National Flood Insurance Program to offer wind coverage at
risk-based rates. State risk pools are forced to buy reinsurance at
prices far exceeding the estimated risks and anticipated losses.
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Expansion of State Insurance Pools in North Carolina, South Carolina, Texas, Georgia, and Alabama |
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Thursday, 01 May 2008 |
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Much has been written and said about the insurance crises in Florida, Mississippi, and Louisiana.
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Times Picayune Editorial Regarding Wind & Flood Claims |
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Monday, 04 February 2008 |
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The Federal Emergency
Management Agency is stubbornly ignoring mounting evidence that it has
poorly run the flood insurance program, and it's time the White House
and Congress force the agency to change its ways.
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Taylor comments on GAO Wind & Flood Report |
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Tuesday, 29 January 2008 |
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WASHINGTON,
D.C. - Rep. Gene Taylor commented today on the U.S. Government
Accountability Office's report that greater transparency and oversight
is needed for determining the extent of wind and flood damage after a
storm.
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NY Times - Home Insurers Canceling in East |
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Wednesday, 24 October 2007 |
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GARDEN
CITY, N.Y., Oct. 15 - It is 1,200 miles from the coastline where
Hurricane Katrina touched land two years ago to the neat colonial-style
home here where James Gray, a retired public relations consultant, and
his wife, Ann, live. But this summer, Katrina reached them, too, in the
form of a cancellation letter from their home-insurance company.
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Senate Committee Passes Flood Insurance Bill |
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Wednesday, 24 October 2007 |
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WASHINGTON
-- The Senate Banking Committee approved a flood insurance reform bill
this morning that does not include wind damage, as Gulf Coast lawmakers
had hoped, after key senators decided not to offer an amendment
expanding the federal program to cover wind.
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St. Petersburg Times - Who will share our insurance miseries? |
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Wednesday, 24 October 2007 |
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As
it turns out, Florida and the Gulf Coast states aren't the only ones
with a growing hurricane insurance crisis. Three-million homeowners
along the Eastern Seaboard have had their insurance policies canceled
over the past three years, the New York Times reported
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Taylor Amendments to H.R. 3121 |
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Tuesday, 09 October 2007 |
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Rep. Gene Taylor offered two amendments during House consideration of H.R. 3121.
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House Approves Multiple Peril Insurance |
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Tuesday, 09 October 2007 |
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WASHINGTON,
DC (September 27) - Today the U.S. House of Representatives approved
legislation to provide multi peril insurance sponsored by Congressman
Gene Taylor (D-MS) to allow property owners to purchase wind and flood
coverage in a single policy.
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Sun Herald Editorial, Oct. 4, 2007 |
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Tuesday, 09 October 2007 |
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As
expected, Trent Lott and Thad Cochran, Mississippi's two Republican
senators, voiced support this week for Coast Congressman Gene Taylor's
effort to expand the National Flood Insurance Program to include damage
done by wind as well as water.
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Orlando Sentinel Editorial, Oct. 8, 2007 |
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Tuesday, 09 October 2007 |
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A major reform of the way homeowners get reimbursed after destructive storms is making its way through Congress, and guess what?
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St. Petersburg Times Editorial, Oct. 8, 2007 |
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Tuesday, 09 October 2007 |
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Congress is finally listening to Florida's pleas for help in providing affordable hurricane insurance to property owners.
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Realtors Support H.R. 3121 |
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Wednesday, 26 September 2007 |
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The
National Association of Realtors® believes affordable flood insurance
for communities in flood zones is critical to economic growth and
development, and today expressed its support for the U.S. House of
Representatives' vote to reform and reauthorize the National Flood
Insurance Program.
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ABA Supports H.R. 3121 |
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Tuesday, 25 September 2007 |
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I
am writing on behalf of the members of the American Bankers Association
(ABA) to express our support for H.R. 3121, the Flood Insurance Reform
and Modernization Act of 2007, scheduled to be considered by the full
House later this week.
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NAHB Supports H.R. 3121 |
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Tuesday, 25 September 2007 |
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On
behalf of the 235,000 members of the National Association of Home
Builders (NAHB), I am writing to express our support for H.R. 3121, the
Flood Insurance Reform and Modernization Act of 2007 as amended by the Manager's Amendment, which includes much-needed technical improvements to the underlying bill.
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Savannah Morning News article on multiple peril insurance |
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Monday, 17 September 2007 |
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ATLANTA - A battle between Katrina victims and insurance companies
has moved to the halls of Congress, setting off a tussle over the
future of the nation's flood insurance program.
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American Association for Justice Report on Insurance Fraud |
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Monday, 17 September 2007 |
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American Association for Justice Report:
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Coastal insurance market failure and collapse |
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Monday, 17 September 2007 |
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Signs of insurance market failure on Long Island and Cape Cod; private insurance market has collapsed in Florida
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Insurance Reform News 9/4/07 |
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Monday, 17 September 2007 |
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Circuit ruling would allow insurers to void wind coverage where there
is any flooding; What passes for good news in New Orleans: unaffordable
insurance that underpays claims may still be available; The next big
question in Florida: Should the state just go ahead and cover
everything?; S.C. Insurance Director dropped by insurer, may have to
pay wind pool rates; Alabama considers special session to address
coastal insurance concerns; Meanwhile the risk modelers start making
the case for the next wave of premium increases and market withdrawals.
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Insurance news from Brownsville to Cape Cod to Monte Carlo |
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Monday, 17 September 2007 |
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Half
of Texas Coastal homes have been forced into the wind pool; 40 percent
of Cape Cod homes are in the state FAIR plan; meanwhile reinsurers meet
in Monte Carlo to fix prices and divide the market.
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Clarion Ledger article on skyrocketing insurance costs, 8/27/07 |
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Sunday, 26 August 2007 |
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"It's a Florida coast cost of living with south Mississippi wages"
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Democratic Congressiona Delegation Visit to Mississippi Coast, August 13, 2007 |
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Sunday, 12 August 2007 |
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Speaker
of the House Nancy Pelosi and Majority Whip Jim Clyburn led a
delegation of Democratic Members of Congress on a fact-finding trip to
Louisiana and Mississippi August 12-14.
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Allstate & Nationwide Support Multiple Peril Insurance |
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Friday, 13 July 2007 |
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WASHINGTON
-Allstate and Nationwide are bucking a large insurance industry segment
by throwing their support behind some form of expansion of the National
Flood Insurance Program to include windstorm coverage.
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Rep. Gene Taylor Asks AIA to Retract Report |
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Friday, 13 July 2007 |
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Dear Governor Racicot:
I am writing to request that
you retract and disavow the fraudulent Towers Perrin report that you
released to Congress and the media on Wednesday.
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Times-Picayune questions NFIP policy |
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Sunday, 24 June 2007 |
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All today's articles are from the Times-Picayune.
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Articles on Flood Insurance Hearings; Federal and State Insurance Reforms |
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Tuesday, 12 June 2007 |
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Evidence of Fraud by Insurance Companies against the NFIP |
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Monday, 11 June 2007 |
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With
two hearings on flood insurance issues scheduled for Tuesday, here is a
recap of the evidence of fraud by insurance companies against the
National Flood Insurance Program. The afternoon hearing will focus on
the preliminary findings of GAO and the DHS Inspector General about the
handling of claims involving wind and flood claims.
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Insurance Reforms News From Several States |
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Tuesday, 29 May 2007 |
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Louisiana's
Road Home program estimates taxpayers are on the hook for about $1.5
billion that should have been paid by insurers (that is in addition to
the wind damage that insurers fraudulently billed to the flood
insurance program);
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More Allstate Fraud Against the Flood Insurance Program; Other Insurance Reform Articles |
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Monday, 21 May 2007 |
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Another Rebecca Mowbray story on Allstate fraud against the flood insurance program;
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Evidence of Fraud by Insurers Handling Katrina Losses With Both Wind and Flood Damage |
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Wednesday, 18 April 2007 |
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Summary
of Documents That Suggest Fraud by Insurance Companies and their
Contractors in the Handling of Katrina Wind and Water Claims
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