Property Insurance

In Elkins v. QBE Insurance Corporation, No. C11-5150, US District Court (W.D. Washington), Mr. and Mrs. Elkins filed suit against their condominium association’s insurance carriers for loss of rental income after a fire damaged common areas and individual units. The Elkins alleged that their individual loss of rent was part of the “community income” as defined in the property and casualty policy in question.

Harbour Commons Condominiums, a commercial office condominium, was the named insured under the QBE policy. The Elkins owned 2 office units located in the Harbour Commons building and leased those office units to commercial tenants.

The insurer tendered policy proceeds to repair the damage caused by the fire to the common areas and the Elkins’ units. QBE dec

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Instead of simply looking at the overall price tag of auto insurance, vehicle owners should consider studying the six major components that insurers may use to help determine rates, as their driving lifestyle can have a major impact on policy costs.

Driving record may influence rates

Knowing that their policyholders are good drivers matters to car insurance companies, which is why an applicant’s driving history has a serious impact on rates. Motorists who have had multiple accidents or driving violations may have more expensive premiums, according to experts, while companies offer discounts to those with clean records.

Age may also have one of the biggest impacts on auto insurance rates.

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U.S. property and casualty insurers’ profitability fell to the lowest level since 2008 as losses from natural disasters exceeded gains in sales and investment income.

Insurers posted a 1.9 percent annualized rate of return on policyholders’ surplus, or cushion against unexpected claims, in the nine months through Sept. 30, according to a statement today from the Property Casualty Insurers Association of America. That’s the lowest since the 1.2 percent return in 2008, when the industry faced losses from Hurricane Ike and on investments.

Travelers Cos. and Allstate Corp. are among insurers raising prices for coverage to boost shareholder returns after claims from storms and low interest rates pressured results. Polic Read more…

Simple steps help you arrive at your destination safely and comfortably.

If you’re taking a long road trip, you need to plan in advance. And we’re not just talking about packing. “Highway hypnosis” is quite common when travelers haven’t prepared for the endurance demands of an extended haul. In fact, more than 60 percent of drivers say they’ve gotten behind the wheel while drowsy, according to a survey by mattress retailer Sleepy’s.

With that statistic in mind, you should take steps to prepare for long drives before you get behind the wheel—and to stay alert and energized throughout your trip. These tips will

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A Jacksonville, Fla.-based Blue Cross/Blue Shield insurance subsidiary agreed to acquire Pittsburgh, Pa.-based Highmarks Medicare subsidiary.

Diversified Service Options (DSO), a wholly owned subsidiary of Blue Cross and Blue Shield of Florida and the and the holding company for First Coast Service Options (FCSO), will acquire Highmark Medicare Services (HMS).

Financial terms of the transaction, expected to close by Jan. 1, 2012, were not disclosed.

Both HMS and FCSO will continue to operate as separate, independent organizations, as wholly owned subsidiaries of DSO, officials said.

This change was prompted by Highmarks provider strategy, said David OBrien, executive vice president of Highmark, in a statement.

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Last week, I discussed the gale-force wind gusts that plagued Southern California and how these unusually strong Santa Ana winds brought widespread destruction to property. Unlike Hurricane Alley, Southern California is usually immune to hurricane force winds, and the roofs of most structures in this region are rarely forced to endure this kind of storm.

After hurricanes have affected a region, homeowners and businesses are advised to have a licensed professional roofer examine their roofs in the expectation that hurricane winds may cause damage. In many instances after Hurricane Ike went through Texas, businesses and homeowners didn’t know that the gale-force winds extensively damaged their roofs until months down the road when the rainy season began. Th

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