$250 million settlement in shocking auto insurance fraud

In 2018, a court trial was scheduled against State Farm Insurance, the largest property casualty insurance company in America. The company was the defendant in a class action lawsuit for 4.7 million auto insurance customers. Filed under the Racketeer Influenced and Corrupt Organizations Act, the RICO lawsuit represented auto insurance customers from every state in the country except two states that had independently filed their own lawsuits.

An overview of what BOPs protect against

It isn't uncommon for small businesses in Florida to purchase a business owner's policy (BOP). This type of policy can provide coverage against property or other liability risks that they may face. It is also possible for companies to buy the specific types of coverage that they need. Companies that purchase a BOP will receive a payout if their businesses are interrupted because of a natural disaster. It may also pay expenses related to a temporary headquarters.

3 lesser-known reasons for business interruption insurance

Like most business owners in the Hollywood, Florida, area, you work hard to grow your business. Even though you may have a hot product or in-demand service, you cannot predict the weather or other calamities. A sudden storm, fire or flood may render your company unable to meet customer demands. Even worse, an emergency could destroy your business forever. 

Major Hurricane Matthew insurance claim reaches settlement

Commercial property damage claims can be complex and expensive affairs. But in the case of a Florida condominium complex, the damage claim reached new levels, including federal litigation. The condo owners in Ormond Beach recently brought an end to the litigation nightmare and returned to some form of normalcy.

Florida legislature considers changes to homeowners' insurance

When Florida homes are severely damaged by storms or other events, the restoration process can be extremely frustrating for all parties involved. Homeowners want the damage repaired as soon as possible regardless of the amount of funds readily available to cover the costs. However, contractors are often reluctant to begin the job until they receive assurance that they will be paid in a timely fashion once the job is complete.

Why homeowners insurance is important

In Florida, homeowners pay an average of $3,575 each year for home insurance. In most cases, those who are seeking a home loan will need to purchase homeowners insurance as a condition of obtaining financing. A good homeowners insurance policy can protect both a lender as well as a homeowner if a property is damaged by fire, wind or any other cause. While water damage may be covered, flood insurance is separate from homeowners insurance.

2 problems people have with insurance companies

There are two main ways you could have a problem with an insurance company in Florida. The first is that the insurer could deny your claim for some unstated or unclear reasons. The second is that your policy could be written in such a way that you do not get the coverage you expected or that you need.

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