March 24, 2021


Caesars Sues Insurance Carriers, Saying They Declined to Cover $2 Billion-Plus of Losses

Caesars Entertainment Inc.

CZR 2.68%

sued a group of insurance carriers, accusing them of declining to cover an estimated loss of more than $2 billion because of the Covid-19 pandemic.

The casino and hotel company alleges in the lawsuit that it had purchased property insurance coverage to protect against “all risk of physical loss or damage” and resulting business interruption. Most of the policies don’t exclude loss or damage caused by a virus or pandemic, Caesars said in the lawsuit filed Friday in the Eighth Judicial District Court of Clark County, Nev.

The company said it has paid more than

Read More

Indiana fires Miller, raises private money to cover buyout

Archie Miller’s $10.3 million buyout was one of college basketball’s priciest.

Indiana athletic director Scott Dolson decided keeping Miller would prove even more costly.

Dolson fired Miller on Monday, armed with enough cash from private donations to cover the buyout and ready to answer a fan base angered by four straight mediocre seasons.

“It’s a results-oriented business and I didn’t feel like we had made enough progress,” Dolson said on a late afternoon Zoom call. “I thought we needed a new voice and a new direction.”

The Hoosiers were already headed in the wrong direction before Miller arrived in March

Read More

Does homeowners insurance cover water damage?

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.

Homeowners insurance protects your home from damage, theft, and liability. But there are limitations to that coverage — and it depends on the type of “peril” your policy insures against.

There are eight types of homeowners insurance, but they all fall into one of two categories: named peril or open (all) peril. A named peril policy covers you for listed

Read More

Did you evacuate your home due to the Texas winter storms? Your insurance, or FEMA, might cover your costs

It’s important to call your insurance agent and check what your policy does and doesn’t cover. If it’s not covered by insurance, the federal government could help.

Thousands of Texans fled to hotels or outside of the region to escape the days-long power outages, water issues and other problems that cascaded across the state as winter storms rolled through the area. 

Now, many are trying to recover. 

If you or your family had to evacuate your home due to storm damage, and you have insurance, your policy might cover your costs, officials with the Texas Department of Insurance say.


Read More

Renter’s insurance will help cover damages caused by broken pipes

Repairs in homes damaged by broken pipes during the extreme cold weather in Texas are underway.

HOUSTON — Homeowners aren’t the only ones dealing with the aftermath of this week’s storm. Lots of people are cleaning up after pipes burst causing damage to apartments and rental properties.

So what are renters responsible for and what should they be doing right now? John Boriack, president of the Houston Apartment Association, said it comes down to whether or not folks had renter’s insurance.

He said with so many people affected by this cold weather, there is no time to waste.


Read More

Florida SB 76 could change how insurance companies cover old roof replacements

JACKSONVILLE, Fla. – If the roof on your home in Florida is more than 10 years old, the cost to replace it could change dramatically if proposed legislation becomes law.

Senate Bill 76 would allow insurance companies to change the way they cover older roofs. Under the proposal, if your roof is over 10 years old and it gets destroyed during a hurricane, your insurance company could pay you what your old roof is worth at the time as opposed to paying 100% of the replacement cost.

Matt Carlucci Jr., who owns Brightway Insurance, said home insurance rates across Florida

Read More