Tag Archives: Hurricane

What Do Katrina, Ike, And The California Wild Fires Have In Common?

As the New York Times explained, mobile homes burn easily. Governor Arnold Schwarzenegger called for a review of building standards following the complete destruction of 500 manufactured homes in the Oakridge Mobile Home Park. California building officials have noted that building regulations must be strengthened to account for the wildfire hazards in California. Regulators asking … Continue Reading

Florida Cat Fund Credit Rating Drops

I recently wrote about the Florida Catastrophe Fund, and stories concerning its probable inability to pay claims if a major hurricane were to hit in the present credit market.   Rating agencies are catching on to the problem. In a story buried at the bottom of the business section of the Tampa Tribune, AM Best warns that Florida’s Catastrophe … Continue Reading

“It’s a Marathon”

The Austin American-Statesmen quoted Galveston Judge Jim Yarbrough as stating that Hurricane Ike recovery efforts are going to be more of a marathon than a sprint. He is right, especially for those in areas that had a combination of storm surge and wind related damage. The Judge noted that it was going to take at least two years before … Continue Reading

First Reports Of Ike Damage

Our office in Houston has been without power for a week. Tina Nicholson, who heads up our Houston office, held out for awhile, but has worked out of Gulfport since Wednesday. Frank Chimento spent most of the week working out of the Houston Omni, which is flooded with adjusters from all over the country. Initial … Continue Reading

State Farm Gears Up For Ike

State Farm has apparently made a significant push in manpower and communications regarding the adjustment of claims in Louisiana and Texas. It takes thousands of adjusters and sufficient communications to get the job done promptly.  Delay caused State Farm’s old claims mantra under Frank Haines–"pay neither a penny more nor less"–has no place in the claims process, … Continue Reading

Hurricane Ike is going be similar to Ivan and Katrina

Wind versus flood. Insurance companies will use causation to deny claims just as they did in the hundreds of cases we litigated after Ivan and Katrina.  We will retain meteorologists and structural engineers as this issue  will be litigated in Texas and western Louisiana. Rimkus and Haag are located in Texas. I wonder how many outcome oriented reports … Continue Reading

Gustav Claims Estimates Reduced

As Hurricane Ike menaces Florida and possibly other areas of the Gulf Coast, insurance industry analysts have re-evaluated Hurricane Gustav.  Now that insurers have some preliminary estimates, it appears that the $10 billion valuation of claim severity will be much lower, possibly less than $5 billion.  See "Insured losses mount, slowly, as Gustav damage keeps … Continue Reading

And The Beat Goes On

Just when the lights are turned back on, roads cleared and the messes cleaned up from Tropical Storm Fay and Hurricane Gustav, here come the next two platinum hits on the 2008 Storm Charts. Tropical Storm Hanna cannot seem to figure herself out.  She will likely move along the Carolinas and up the Atlantic Coastline. Hurricane … Continue Reading

That’s 3 Billion, with a “B”

That’s the annual revenue of United Casualty parent, Unitrin, a company with a branded glass tower at One Wacker Drive in Chicago.  To put things in perspective, even if United Casualty had paid policy limits to our clients for damages caused to their homes by Hurricane Charley, it would have probably still been shy of … Continue Reading

Florida Reducing Hurricane Exposure

A year after the Florida Legislature and Governor Crist were duped by the insurance industry, legislation aimed at lowering the financial catastrophe of a major hurricane has been introduced to correct last year’s mistake.  See HB 983.  Last fall, I spoke with Alex Sink regarding her concern that the collapsing bond markets could make it … Continue Reading