|
Search
Search through the thousands of lawsuits, complaints and recalls on our site.
 |
Case ID: 3405 | Insurance | 09/30/2004
A Florida appeals court has ruled that a massive rate hike for windstorm insurance on coastal homes was approved improperly four years ago. The underlying class action against the Florida Windstorm Underwriting Association has been remanded to the trial court for further proceedings. The decision opens the way for refunds or credits to the 400,000 homeowners covered by the state's windstorm insurance pool when the rate hike was imposed. Persons affected by the insurance hike should contact attorneys for the class for more information.
The appeals court ruled that the Florida Windstorm Underwriting Association should not have been allowed to double rates in 2000 without approval from the Florida Department of Insurance. An arbitration panel approved the rate hike over the objections of state regulators. The appeals court ruling might not be final-- the windstorm pool, now part of Citizens Property Insurance, has until late May 2004 to appeal the decision to the Florida Supreme Court. The court decision came in response to a class action filed in 2001 by several Miami-Dade County homeowners, including Dr. John Uribe and Edna Buchanan. Uribe, football team physician for the University of Miami Hurricanes, said his annual windstorm premium would have risen from $5,695 to $21,518. Buchanan, the mystery novelist and former Miami Herald police reporter, said her bill was set to soar from $2,218 to $8,242. It wasn't just Miami-Dade County homeowners who were hit with the increases, which were to be phased in over several years. Premiums rose by up to 200% in Palm Beach County and by as much as 300% in St. Lucie County. The windstorm pool covers homes that private carriers refuse to insure because of their proximity to the ocean. That's east of Interstate 95 in southern and central Palm Beach County and east of Alternate A1A in northern Palm Beach County. The pool covers homes east of the Intracoastal Waterway in St. Lucie County; it has no policies in Martin County. Citizens has 440,000 windstorm policies statewide, including 67,000 in Palm Beach County and 2,500 in St. Lucie County. Boca Raton retiree Marvin Eden complained to state regulators after he learned in 2000 that his windstorm premium would rise from $2,712 to $6,815. Last year, it hit $5,000. Mary Lou Jamison, owner of a historic home in Delray Beach, complained that the windstorm pool's prices have soared even as it cut coverage and raised deductibles.The windstorm pool's average premium has risen to more than $1,600 this year for 67,000 homeowners in Palm Beach County, up from $850 before the rate hike took effect in 2000. The three-judge appellate panel ruled that the windstorm pool's own rules required rate increases to be approved by state regulators. After the Department of Insurance rejected the pool's request for a statewide average hike of 96%, the Florida Windstorm Underwriting Association appealed to an arbitration panel, which ruled for the insurer.
At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Insurance Cases of Interest The use of substandard non-original equipment manufacturer parts in auto repairs as required by auto insurance companies is a topic of growing controversy. The class has been certified in a class action filed against Government Employees Insurance Company on behalf of Illinois auto insurance policyholders who allege that the company forces them to use lower-quality parts to fix their vehicles in violation of their policies. The theory of diminished value asserts that buyers choosing between two otherwise equal vehicles will select one that has not been previously damaged and repaired, even where the repairs to the other vehicle were first-rate. The parties have reached a tentative $2,346,535 settlement in an action filed against SAFECO Insurance Company of America and numerous affiliated companies on behalf all persons insured by an automobile insurance policy issued in Georgia by the defendants and who made a claim for damage to their vehicles under their collision, comprehensive, underinsured, or uninsured motorist coverage for a loss that occurred between June 19, 1997, and November 28, 2001. Though there is no claims deadline at this time, persons who are eligible to take part in the settlement who have not received a notification letter should act as soon as possible to alert the company of their eligibility. A nationwide class action has been filed against State Farm Fire & Casualty Company on behalf of policyholders who allege that, because they already had a history of claims against the company, it fraudulently under-compensated them on more recent claims in breach of their insurance contracts. Consumers see offerings for disability protection plans all the time. From mortgage companies to credit card companies, millions of consumers are buying these plans. In essence, these insurance plans, in return for a fixed monthly fee, are supposed to pay your mortgage or other bills while you are disabled. But in many instances, it doesn't work as hoped. Asbestos-related work injuries can be devastating. The parties have reached a tentative $375 million settlement in several class actions filed against Travelers Property Casualty Corporation on behalf of persons exposed to asbestos and their families, who allege that the insurer engaged in unfair trade practices by inappropriately handling and settling asbestos claims. A class action lawsuit has been filed in the District Court of Southern California against Universal Life Resources (ULR), an insurance broker that provides professional services concerning sponsorship, implementation and/or modification of employee-benefit plans, alleging conspiracy and fraudulently marketing, selling and administering insurance products through employee-benefit plans. Class members seek declaratory and injunctive relief, damages, costs and expenses of the action. |
IT'S FREE
|
© 2000 - 2008 Copyright. All rights reserved nola3, llc.
