Maine Insurance

In 20 years, which had a Melvin Rabinowitz owner of the Geico insurance, it claims for damage caused by water from an ice storm in February 1994.

If Mr. Rabinowitz wanted to switch bearer this year, that demand has returned to his subject.

”I have 10 other insurance companies and found that they do not prejudge if you had files a claim in the past three years, in some cases, five years,’’said Rabinowitz, 60 , North-East Port.

Several insurers, he added, have indicated that they would cover the sale, the price of two or three times higher than it had paid.

It was even, after examining his record, with a central report that most insurance companies to subscribe.

”What really blew my mind, a company like said I had two requests in the past three years,”he recalled. ”I have to tell me what the other. It was, as we were always ready for a hurricane, and I called Geico to ask what would happen if a tree fell on my house. The ever before. But the simple question of demand for branded items, me as a person who makes rights.”

In December 31, 1998, nearly 50,000 Long Islanders Geico policy for the various insurers.

Geico has decided to withdraw from the territory of the house owner “of insurance. The company did not renew any policy since January.

The director of property underwriting, Howard G. Vergales, said the society in which each state, with the exception of Florida, where she is awaiting approval by the State Insurance Supervision out of service.

Geico”ist traditionally an auto insurance company and 95 per cent of our business was auto insurance,”he said. We would like”.”

In un”trois hours on August 24, 1992, Geico lost more money than ever in the total benefit of 50 years, we have homeowners selling insurance,”he said, referring to $ 150 million loss in Florida by Hurricane Andrew.”And since there were more and more, as hurricanes caused extensive damage, as the young Hugo and Hurricane Fran, causing more than $ 1 million damage.

”If an owner of the premium of $ 600 to $ 200000 home, you compare that insurance on a car worth $ 20000. The car is more than the premium for owners of the premium. But it is catastrophic exposure on the ground.”

An insurance broker in Bethpage, Susan L. Hoffman said Geico was not the only insurer in the second indent of the house owner “of coverage.

You can”and now the auto shop, but you can not shop owner ‘coverage,”Miss Hoffman, director of the agency Bethpage, said. ”They are afraid of Long Island, not so much because of floods, which are not owners of politics, but because of storms. This problem has been slow. Shortly after, they made clear they want to write, Long Island.”

On 10 October, Nationwide Insurance announced it would make its new policy in the coastal provinces from 17 countries between Maine and Texas. A spokesman, Louis V. Fabro, the company said that 31700 homeowners in Long Island, has not yet decided on the number of policies they write for the region.

The president of the company, Richard D. Crabtree, said in a statement, the decision on the reduction was based on a need verwalten”Wachstum in areas are very vulnerable to extraordinary losses of property severe storms and hurricane-stricken areas. ”

The new rule, “said Crabtree did not affect existing customers, except perhaps those with access to the ownership of islands or very near the coast.

Mr. Fabro said the increase in density and the value of property in the path of the hurricane and other major storms is a major concern for the insurance industry. Compoundage”la concern is the increased frequency of storms on the Atlantic coast and Gulf,”he said in a press release.

This month, George E. Dir Pataki ’s temporary group of Hurricane Insurance Coverage presented its findings. One of the 12 members of George D. Yates AND Dayton Inc. in East Hampton, said the report focuses on the shores of insurance.