host posted on June 08, 2008 12:18
State law requires all hurricane claims for insolvent insurers to be settled within two years of the demise of an insurer - but the law makes an exception for a lawsuit filed within the deadline.
As many as 1,000 claimants may see their cases die, said Michelle Nowell Lovern, the agency's deputy director."
(Source: Randy Diamond Palm Beach Post Staff Writer)
"More than 1,300 insurance claims dating from the 2004 and 2005 hurricane seasons were filed by former Poe Financial Group policyholders in the 30 days before the door closed shut Monday on new filings.
But some of the clients of Poe's three insolvent property insurers won't be getting a payment from the Florida Insurance Guaranty Association because they did not meet a concurrent deadline for filing suit against the agency.
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