Insurance

WESTLAKE VILLAGE, CA - July 8, 2010 - (RealEstateRama) -- Claimants of insurance companies that provide highly satisfying property claims experiences are considerably more likely to renew with their insurer and recommend their insurer to others, according to the J.D. Power and Associates 2010 U.S. Home Claims Satisfaction Study^SM released today

WASHINGTON, DC - July 7, 2010 - (RealEstateRama) -- As part of the Federal Housing Administration’s (FHA) ongoing efforts to enhance risk management practices, Commissioner David H. Stevens today announced plans to implement a series of changes to the multifamily insurance programs that will update underwriting policies, increase lender and underwriter quality, and align loan application, submission and approval standards. FHA’s Multifamily Program Office consulted with stakeholders to bring these changes to market.

BALTIMORE, MD - July 6, 2010 - (RealEstateRama) -- Attorney General Douglas F. Gansler today announced that the Consumer Protection Division has reached a settlement with Arch Insurance Company, the bonding company for Equity Homes, LLC., to pay $460,000 in consumer claims. Equity Homes was a home builder based in Fairfax, Virginia that went out of business in February 2008. Prior to its closure, Equity Homes accepted deposits from consumers to build new homes but never built the homes or refunded the deposits.

July 5, 2010 - (RealEstateRama) -- John Wortman, CEO of Louisiana Citizens Property Insurance Corporation (Citizens), the state’s property insurance of last resort, has announced his upcoming retirement. “John Wortman has been a tremendous asset to Louisiana during our recovery from the catastrophic hurricanes of 2005. He came to Citizens in a time of great turmoil within the organization and worked tirelessly to set Citizens on a course for future efficiency and professionalism. I am grateful to him for his extraordinary contributions and I wish him well in his much deserved retirement,” said Insurance Commissioner Jim Donelon.

PEARL, MS - July 2, 2010 - (RealEstateRama) -- President Barak Obama signed the National Flood Insurance Program Extension Act of 2010 which Congress passed yesterday. This now extends the NFIP through September 30 and is retroactive to cover the lapse period which began June 1

WASHINGTON, D.C. - July 2, 2010 - (RealEstateRama) -- Robert E. Story, Jr., CMB, Chairman of the Mortgage Bankers Association (MBA) hailed yesterday’s passage in the Senate of legislation to extend the National Flood Insurance Program (NFIP) through September 30, 2010. The bill, which is retroactive to June 1, 2010, when the program expired, passed the House last week and will go to the President for his signature.

Washington, DC - June 30, 2010 - (RealEstateRama) -- Majority Leader Harry Reid (D-Nev.) and Senate Finance Committee Chairman Max Baucus (D-Mont.) introduced legislation today to reinstate federal unemployment insurance benefits and extend the purchase closing date for new homebuyers to qualify for tax credits.

Washington, DC - June 28, 2010 - (RealEstateRama) -- Commissioner Gennet Purcell, Esq., of the DC Department of Insurance, Securities and Banking (DISB) today announced the indictment of Renaldo D. Gillis and Afolasade Orekoya for their leadership in an extensive mortgage fraud “flipping” scheme in the District of Columbia after a joint investigation with federal law enforcement

WASHINGTON, D.C. - June 24, 2010 - (RealEstateRama) -- With the support and backing of area Congressman Jack Kingston (R-GA), the U.S. House of Representatives today voted to extend the National Flood Insurance Program through September 30, 2010. The program, which lapsed on June 1, allows property and business owners as well as renters to purchase insurance against flood losses.

CHICAGO, IL - June 8, 2010 - (RealEstateRama) -- The Illinois Department of Insurance will provide free, one-on-one counseling services in Dwight and Streator to help individuals affected by the recent tornados with the insurance claims process. Department staff can assist with questions such as how to properly document storm damage, whether to make temporary repairs, what a consumer’s homeowner policy covers, and what to expect during the claims process.

June 8, 2010 - (RealEstateRama) -- Des Plaines, Illinois, June 8, 2010—According to the latest poll conducted by the National Association of the Remodeling Industry (NARI) on its Web site, the majority (56%) of homeowners cite functionality as their largest concern when it comes to their home

CLINTON, MS - May 28, 2010 - (RealEstateRama) -- Mitigation specialists from the Federal Emergency Management Agency are continuing to offer free rebuilding and disaster-resistance advice to Mississippi residents

May 27, 2010 - (RealEstateRama) -- At a press conference today, Insurance Commissioner Jim Donelon kicked off his summer storm tour aimed at raising awareness for hurricane and flood preparedness. Experts are predicting an “above average” 2010 Atlantic hurricane season and Commissioner Donelon is imploring consumers to protect themselves and their property against Louisiana’s most frequent and unpredictable natural disasters – hurricanes and floods

WASHINGTON, DC - May 21, 2010 - (RealEstateRama) -- The Federal Emergency Management Agency today announced that it is revising its Preferred Risk Policy under the National Flood Insurance Program (NFIP) to extend eligibility an additional year.

Washington, DC - May 13, 2010 - (RealEstateRama) -- Several thousand Realtors® ascended Capitol Hill today to persuade their members of Congress to protect affordable and safe financing for American families and to reform government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

Washington, DC - May 10, 2010 - (RealEstateRama) -- Today, Financial Services Committee Chairman Barney Frank (D-MA) introduced legislation that is the second piece of a two-pronged approach to assure continuity and stability in the National Flood Insurance Program (NFIP) and the nation’s housing markets while also focusing on the comprehensive reform and long-term reauthorization of the NFIP.

Washington, DC - April 28, 2010 - (RealEstateRama) -- The House Financial Services Committee today passed legislation introduced by Congresswoman Maxine Waters (D-CA) to improve the National Flood Insurance Program (NFIP), the primary source of reliable, affordable flood insurance coverage for millions of American homes and businesses. The legislative reform package reauthorizes the program for 5 years.

Washington, DC - April 28, 2010 - (RealEstateRama) -- The House Financial Services Committee approved by a vote of 39-26 the Homeowners’ Defense Act, innovative bipartisan legislation to reduce insurance premiums for homeowners around the country

April 27, 2010 - (RealEstateRama) -- First American Title Insurance Company, a leading provider of title insurance and settlement services and the largest subsidiary of The First American Corporation (NYSE: FAF), today announced that its AgentFirst™ app for iPhone®, iPad™ and iPod touch® devices is now available for free download from the App StoreSM.

TALLAHASSEE, FL - April 26, 2010 - (RealEstateRama) -- Florida CFO Alex Sink today announced the appointment of Harold M. Knowles to the Board of Governors for Citizens Property Insurance Corporation, effective April 21, 2010, through July 31, 2011. Citizens is one of the largest property and casualty insurance companies in the nation and the largest property insurer in Florida.

BEAVER, WV - April 26, 2010 - (RealEstateRama) -- Repairing or rebuilding a flood-damaged home? Working on ways to make your home more disaster-resistant? Have questions about flood insurance?

TALLAHASSEE, FL - April 26, 2010 - (RealEstateRama) -- Florida CFO Alex Sink today released a letter to OIR Commissioner Kevin McCarty inquiring whether any additional actions may be necessary by OIR prior to hurricane season to ensure authorized property insurers are financially capable of meeting their obligations through the course of the 2010 hurricane season. A copy of the letter follows below

Washington, DC - April 22, 2010 - (RealEstateRama) -- Congressman Steve Scalise testified today before the House Financial Services Subcommittee on Housing and Community Opportunity on H.R. 1264, the Multiple Peril Insurance Act

Washington, DC - April 14, 2010 - (RealEstateRama) -- Congresswoman Ileana Ros-Lehtinen, a senior member of the Florida Congressional Delegation, has recently signed on to letters, along with a bipartisan group of her fellow Members of Congress, expressing their concern with the failure to extend the National Flood Insurance Program (NFIP)

BATON ROUGE, LA - March 12, 2010 - (RealEstateRama) -- Today, Governor Bobby Jindal announced the reappointment of Senator Dan “Blade” Morrish to the Louisiana Citizens Property Insurance Corporation Board of Directors.

March 12, 2010 - (RealEstateRama) -- Today, during National Consumer Protection Week, Michigan's Automobile and Home Insurance Consumer Advocate Melvin Butch Hollowell announced he has been appointed by the National Association of Insurance Commissioners (NAIC) to the position of Consumer Liaison Representative. The NAIC has also listed Hollowell in its newly-created Consumer Expert Database

Jefferson City, MO - March 12, 2010 - (RealEstateRama) -- Consumer advocates are encouraging Americans to become consumer savvy during National Consumer Protection Week, and here in Missouri, the Department of Insurance is helping homeowners and renters better protect themselves in the event of damage or theft to their property.

March 9, 2010 - (RealEstateRama) -- Attorney General Janet T. Mills warns homeowners to be careful when choosing a contractor to repair damage from recent storms. “After storms and other natural disasters, some home improvement contractors aggressively market their services to the elderly and other potentially vulnerable consumers to repair their homes,” said Attorney General Mills. “While most contractors in Maine are reputable and treat their customers fairly, some do not. Consumers should wait, check around and get written estimates before hiring a contractor do to home repairs."

February 19, 2010 - (RealEstateRama) -- Insurance Commissioner Jim Donelon announced today his approval of a proposal made by The Hanover Insurance Group to guarantee continued coverage for homeowners policyholders currently insured by The Hanover Insurance Company and Massachusetts Bay Insurance Company. Initially, The Hanover Insurance Group (Hanover) proposed to withdraw Massachusetts Bay Insurance Company and The Hanover Insurance Company from Louisiana and have Gulfstream Property and Casualty Company (Gulfstream) provide coverage to the approximate 10,000 policyholders those two companies presently serve.

Boise, ID - February 15, 2010 - (RealEstateRama) -- Based on recently released national fourth-quarter financial performance statistics, Idaho-based financial institutions are not immune from the effects of the recession. Gavin Gee, director of the Idaho Department of Finance, reported that Idaho-headquartered commercial banks have experienced increased amounts of non-current loans and loan charge-offs, an increase in foreclosed real estate properties and, as a group, negative earnings for the year. In his budget presentation to JFAC this morning, Gee said, “Our Idaho financial institutions are caught in an economic upheaval that they did not create, one caused by a culture of risk carried out by large money center institutions, not traditional lenders like those we have in Idaho.