June 24, 2010
GULFPORT -- The Merlin Law Group, which has only one policyholder lawsuit still open against State Farm Fire and Casualty Co., announced Thursday a settlement has been reached with the company in 22 cases. "Obviously, we are pleased to settle without costly and lengthy litigation," said State Farm spokesman Fraser Engerman, who declined to comment further because terms of the settlement are...
As posted at:

June 24, 2010
In a queue of more than 100 taxis that idled Thursday evening at Louis Armstrong New Orleans International Airport, Farouk Sattar sat in the driver's seat of his cab and waited for another chance to share his pointed message about Allstate Insurance Co. As the suburban Chicago company's name has echoed in recent weeks with every mention of the 2008 Sugar Bowl or BCS national championship game --...

June 23, 2010
Briefing Begins in Fairbanks   Can a consumer sue an insurance company under the Consumer Legal Remedies Act? The court of appeals says no, but the California Supreme Court will deliver the final word. The plaintiffs have filed their opening brief, and amicus briefs will be filed, likely on both sides, within the next few months. The Supreme Court agreed to hear Fairbanks v. Superior Ct....
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June 23, 2010
State Insurance Commissioner Steve Poizner will announce details today in Oakland of a $10 million settlement involving the sale of improper annuities to California seniors. by Minnesota-based Allianz Life Insurance Company of North America. Under the terms of the settlement, Allianz will enact more consumer protections to ensure that seniors who buy annuities from them starting in March are...
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June 23, 2010
If the worst happens, you can't be sure you'll collect enough to bring back the home you love. Here's what to do.   (Money Magazine) -- If last fall's devastating California wildfires weren't enough of a wake-up call, consider this: Nearly 60% of homes nationwide don't carry enough insurance coverage to be fully rebuilt. On average those homes are underinsured by 21%. To give yourself a...

June 23, 2010
Homeowners battle insurance companies over loss claims   After the devastation of the California wildfires last October and record damage from hurricane Katrina, you’d think the homeowners insurance industry would be struggling. But you’d be wrong. Insurance companies are reeling in record profits — making more money than at any time in their history. Insurers say they’re just having a few...
As posted at: MSNBC

June 22, 2010
 A hard-charging former prosecutor tries to set Wall Street right from his perch as a state official. His activist agenda brings populist praise, but also concerns he might overreach. Eliot Spitzer as New York attorney general in 2002, right? No, this time it's state Insurance Superintendent Eric Dinallo, a top aide who helped Spitzer take on Wall Street years ago. Now that Spitzer is...

June 22, 2010
The California Department of Insurance is extending a helping hand to residents affected by the San Diego fires. The agency, along with Consumer advocacy groups, United Policyholders and RB United, will hold sessions to help affected residents collect their claims. Reporter, David Nogueras has more. Today through Saturday, insurance professionals will meet with policy holders in face-to-face...
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June 22, 2010
 March 14 (Bloomberg) – The collapse of the subprime mortgage market will lead to record losses for insurance companies, overtaking Hurricane Katrina, the worst natural disaster in U.S. history. The amount of asset writedowns and credit losses reported by the industry has reached at least $38 billion, just short of the $41.1 billion in claims from Katrina, which killed more than 1,500 people...