Florida Insurance Claim Lawyer Blog

The South Florida Sun-Sentinel is reporting that the deadline to file an insurance claim for damage caused by Hurricane Wilma is Oct. 24.

That's the five-year anniversary of Hurricane Wilma and will also trigger Florida's five-year statute of limitations to file a lawsuit for property insurance claims. Our Miami insurance claims lawyers offer free consultations to anyone who is struggling to be justly compensated for hurricane or other storm-related damage in South Florida.

Michael Barry, vice president of media relations for the Insurance Information Institute, said "some insurers, depending on their policy language, may be willing to review a claim filed beyond the five-year deadline."

We say, "don't count on it." Your window is just about closed when it comes to seeking the compensation you deserve for South Florida's last major hurricane. If you have not done so by now, you should consult an attorney immediately, any claims filed or resubmitted at this point will likely miss the deadline if and when the claim is denied. Many claims have been delayed because insurance companies have told homeowners that damages didn't meet deductibles or were otherwise ineligible. In other cases, homeowners may have accepted inadequate payment, not realizing the extent of the damage.

Insurers paid out about $9.2 billion on more than 1 million Wilma claims made by homeowners, business owners and automobile owners, according to the Property Casualty Insurers Association of America.

Never ones to rest when a better deal might be had by greasing the political machine in Tallahassee, representatives of the insurance industry backed legislation this year that shortened the time allowed to file windstorm claims to three years. Lawmakers obliged by passing the measure but it was vetoed by Gov. Crist.

Continue reading "South Florida Homeowner Claims for Hurricane Wilma Damage due by Oct. 24 - Consult an Attorney before Filing" »

The sixteenth Tropical Depression (TD16) of the Atlantic hurricane season formed Tuesday morning south of Cuba and will likely hit South Florida over the next 48 hours.

Our Miami storm damage attorneys continue to report that South Florida has entered the height of hurricane season. Just last week on our Florida Insurance Claim Lawyer Blog, we reported Lisa was named the area's 12th storm.

The latest storm will be named Nicole if it strengthens as forecast. Tropical storm warnings have been posted for much of South Florida, the Florida Keys, Cayman Islands, Cuba and much of the Bahamas.

The Miami Herald reports significant wind, rain and flooding are expected over the next few days. The storm is currently 390 miles south-southwest of Miami and is moving north-northeast at 10 mph.

The storm is expected to pass through South Florida on Wednesday, before making its way up the East Coast, where it could be a threat as far north as Washington, D.C. Presently, the storm has sustained winds of 35 mph, well below the 74 mph needed for hurricane strength but just shy of the 39 mph need for tropical storm intensity.

Tropical Depression 16 is surrounded by very warm waters and should strengthen into a Tropical Storm before reaching South Florida. Its encounter with Cuba will likely prevent it from reaching hurricane strength before passing over Florida. However, the National Weather Service is predicting at least 3 to 5 inches of rain over South Florida.

Continue reading "South Florida under Tropical Storm Warning as Lisa forms near Cuba" »

The South Florida hurricane season is nowhere close to being over, and residents need to remain vigilant even as they turn their attention toward fall and the upcoming tourist season, the Sun-Sentinel reports.

Our Miami storm damage attorneys have provided a number of resources for homeowners on our Florida Insurance Claims Lawyer Blog, including tips on preparing for a hurricane in South Florida.

As we head into fall, residents too often put concerns about hurricanes behind them. In realty, this past week -- Tuesday Sept. 21, to be exact -- was the midpoint of hurricane season In South Florida. Since records began in 1851, 20 hurricanes have struck the area before that date, and 21 have struck after.

"Basically, this means that October is still busy for us, while activity quiets down in other parts of the Atlantic basin," said meteorologist Robert Molleda of the National Weather Service.

In fact, October has been South Florida's most active month in terms of hurricanes, with 19 striking the area in the last 159 years. September saw the second-highest number, with 15.

Memorable hurricanes in October include Hurricane Wilma in 2005, Hurricane Irene in 1999 and Hurricane King in 1950.

In August, famed hurricane prognosticator William Gray predicted 18 named storms, including 10 hurricanes and 5 major hurricanes this season. NOAA called for 20 named storms, including 12 hurricanes, six of which would be major hurricanes. Tropical Storm Lisa's formation on Tuesday puts the season's current count at 12 named storms, including six hurricanes, five of which have been classified as intense.

In October, the Atlantic hurricane season does begin to wane, but storms are more likely to form in the warm waters of the Caribbean. The official end to the hurricane season is Nov. 30, although storms are still likely to form in November and even into December.

Continue reading "October-November, No Time to Forget about the Risks of Hurricanes and Storm Damage in South Florida" »

Florida's state-backed property insurer, Citizen's Property Insurance Corp., received approval on Thursday to raise rates an average of 10.3 percent for Florida homeowners, Businessweek reported.

As our Miami insurance dispute attorneys reported earlier this week on our Florida Insurance Claim Lawyer Blog, private insurers fled coastal areas in the wake of Hurricane Katrina. Florida's busy 2004 and 2005 hurricane seasons also narrowed the field, turning Citizens Insurance, which had been the state-backed insurer of last resort, into one of the state's primary property insurers.

And, while it insures $433 billion in property, it is sitting on just $10.5 billion in cash reserves and reinsurance. Citizens is now the state's largest insurer with 1.2 million policies.

Lawmakers continue to struggle with ways to shift homeowners out of Citizens and back into the private insurance market. But one thing is certain: There is very likely to be big trouble collecting from Citizens in the event of a major hurricane.

The Sun-Sentinel reports that the state's office of Insurance Regulation approved larger increases than Citizens had requested.

The increase comes after the insurer raised rates an average of 12 percent this year in parts of Broward and Palm Beach counties.

Continue reading "South Florida homeowners to pay more for Citizen's Insurance; Solvency Questioned in the Event of Major Hurricane" »

The USA TODAY reports that if a major hurricane were to hit coastal communities, its devastating financial effects could reach far beyond those who actually incur damages.

After Hurricane Katrina, private insurers fled coastal areas, including Florida, which caused many states to expand their own insurance companies. For instance, in Florida we have seen the recent expansion of Citizens Insurance despite the legislative's mandate that it be the insurer of last resort. Nonetheless, much of the legislation that either created or expanded these state-owned insurance companies, such as Citizens herein Florida, contain provisions allowing states to enforce large surcharges on other insurance companies and on other policyholders.

But why would the State of Florida need to enforce such a surcharge? Here are some facts: Citizens, Florida's insurance plan, currently insures property worth $433 billion. However, Citizens only has $10.5 billion in cash reserves and reinsurance, which in simple terms is insurance for insurance companies whenever they have to make a big payout.

Simple math tells us Florida's insurance plan is vastly underfunded. If a large hurricane were to hit Florida, surcharges are almost a certainty. Plus, these surcharges can be levied on almost any insurance policy, including auto, property, and liability insurance.

According to FEMA Administrator, Craig Fugate, "If [Florida] [has] a major hurricane such as Andrew, they're going to be in a lot of trouble."

Therefore, it is important that you check the financial strength of your insurance companies, especially now during the height of hurricane season.

Continue reading "Florida Hurricane Damages Costs Millions of Dollars to Insurance Companies" »

Channel 10 News in Tampa is the latest to report on the ongoing saga involving the federal flood insurance program.

As our Miami insurance dispute attorneys reported on our Florida Insurance Claim Blog, Congress has extended the program in fits and starts, often just a few months at a time. When the program is unavailable, it causes huge headaches for homebuyers, who cannot qualify for a mortgage without flood insurance.

Further complicating the matter, are new FEMA maps that have been decried as inaccurate and frequently require flood insurance of homeowners in areas with no history and little real threat of flooding.

While South Florida Congresswoman Ileana Ros-Letinen is among the supporters of the program, it has come under heavy fire for questionable payouts. Additionally, about 1 million policies are riskier than their premiums would suggest, leaving taxpayers to foot the remainder of the bill.

FEMA records show about 20,000 properties have collected on claims in excess of their value -- sometimes far in excess of their value. Channel 10 reports on a $153,000 Alabama home that has received more than $2 million in claims.

Others are receiving discounts for rental or vacation properties. In Longboat Key, a wealthy resort area near Sarasota, a direct hit from a hurricane could cause an estimated $13 billion in damages, yet nearly half (48 percent) of homeowners receive discounts because the homes are not their primary residences.

In other cases, homeowners file claims storm after storm for recurring damage to the same poorly situated and vulnerable property. Pinellas County has reported $72 million in repetitive claims; Pasco County has had $32 million. Statewide, more than $1.3 trillion in repetitive claims have been paid out.

Currently the flood insurance program is $19 billion in the red.

From a practical standpoint, the issues with the flood insurance program can make it more difficult for a homeowner to file a legitimate claim; may increase the risk of a denial; and can subject legitimate claims to excessive wait times. Consulting a storm damage attorney in South Florida is often your best bet when dealing with a substantial insurance claim.

Continue reading "South Florida Residents should Know their Rights when Dealing with Flood Insurance " »

Hurricane Igor is expected to make it a bad weekend at the beach, according to the Fort Lauderdale Sun-Sentinel.

As our Miami storm damage lawyers have been reporting, South Floridians are well served to be vigilant through the remainder of the busy Atlantic hurricane season. A listing of this year's named storms on our Florida Insurance Lawyer Blog makes Igor the season's 9th major storm. Experts expect 14 to 20 named storms by the time the 2010 hurricane season ends in November. Eight to 12 could reach hurricane strength, with 4 to 6 becoming major hurricanes.

While Igor is expected to remain well clear of Florida, large swells and dangerous rip currents are likely along the east coast. Storm conditions are expected to begin Friday and last through the middle of next week. Palm Beach County is expected to see the worst weather, although deteriorating conditions are likely in Broward and Miami-Dade counties as well.

It is not unusual for hurricanes to create havoc in South Florida from hundreds of miles away. High winds, flooding, heavy rain and tornadoes are all frequent consequences of passing storms.

Rip current can be especially dangerous to swimmers; caused by water crashing ashore and then racing back to sea through smaller channels, a rip current can quickly pull someone dangerously far from shore. Swimmers caught in a rip current should swim parallel to the shoreline until they have escaped the current's pull.

Red flags on the beach mean only expert swimmers should attempt to enter the water (think Michael Phelps ... maybe). Beachgoers are also encouraged to remain near lifeguard stands and to keep children close at all times.

Igor's enormous circulation pattern should pull poor weather, rip currents and big waves ashore through the middle of next week. The storm is projected to be about 1,000 miles off the east coast on Saturday at its closest point to South Florida.

Continue reading "A Thousand Miles Away; Hurricane Igor will Make Beachgoing a Contact Sport in South Florida" »