Personal Lines

Policyholders of Citizens Insurance Corp., the underreserved state-sponsored insurer of last resort, could see their rates rise by up to 5 percent under legislation passed yesterday by the Florida Senate.

Eight industry trade groups supporting an optional federal insurance charter told key members of Congress in a letter yesterday that financial services regulatory reform should include a dedicated federal insurance regulator.

Coinciding with the nation's economic downturn there has been a clear increase in the number of questionable insurance claims related to possible fraud, according to a National Insurance Crime Bureau report.

American International Group said today that despite the ongoing investigations by federal authorities, they know of no illegal activity by the company's controversial financial products unit.

Even as Americans try to find ways to reduce insurance costs, they are maintaining essential auto and homeowners coverages, according to an Insurance Research Council report.

The Florida House on Friday night approved and sent to the Senate a measure designed to beef up the finances of the state-created home insurer of last resort and the Florida Hurricane Catastrophe Fund.

Wildfires, hurricanes, identity theft and floods. In most cases, these things just happen and can't be predicted. Disasters can strike anyone at any time.

While comparisons to mold and asbestos are inevitable, liability insurance exposures arising from the installation of tainted Chinese drywall in Southeast homes will not grow to asbestos-like proportions, legal experts predicted recently.