USA – Insurance company notifies policyholders to reapply.
An insurance company from Tallahassee, FL started to send notifications for over 350.000 policyholders informing that they need to reapply for insurance. All policyholders having wind-only coverage should apply to update their plans. Citizens Property Insurance executives explain that now the company offers a wind-only policy form that combines several forms all in one, what can be confusing to read, and that a simultaneous computer-system switch is the main reason to ask for reaplliance for coverage from all those policyholders.
While for some policyholders such changes will only result in more paperwork, some others will have to adapt to the situation. Some policyholders with shingle roofs in their houses would be required to get new, repaired or approved roofs before renewing wind-only coverage plans. Company's executives also declares that updating of almost all policies will be helpful, as it was reported that many people in the area had inadequate coverage to rebuild their properties after recent storms.
UK – Insurance scam leads British couple to jail. USA – Insurance: Catastrophe losses double in Q2.
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