Catastrophe & Restoration

When Hurricane Wilma headed toward the southeast coast of Florida, there was a sense of disbelief and weariness among policyholders, insurance company officials, claim adjusters, and state officials.

Last year, after the now-infamous quartet of Hurricanes Ivan, Jeanne, Frances, and Charley finished their tours of the state, 2.3 million insurance claims were reported in Florida.

Cracks are an inescapable, undesirable feature of many buildings.

When insureds complete improvements or repairs around their properties themselves, the question arises whether actual cash value would be calculated differently than if contractors did the work.

Florida's chief financial officer, Tom Gallagher, has opened a criminal fraud investigation into whether executives at Citizens Property Insurance Corp., the state's insurer of last resort, took bribes to award business to adjusters.

A total of seven natural catastrophes in the third quarter of this year cost the nation's property and casualty insurers an all-time high of $40.8 billion in insured property losses in 14 states.