Flood Insurance News

Southern Kansas Flood Damage Estimated at $1M

Southern Kansas flooding victims are cleaning up the mess torrential rains left behind. The Wichita Eagle reports that Mulvane city administrator Kent Hixson says 44 homes and five businesses inside the city limits saw some sort of flooding damage from …

RMS: Flood Insurance Uptake Low in Areas Hit Hardest by Louisiana Flooding

Calling the recent flooding event in Louisiana one of the most significant natural disasters in the United States, catastrophe modelling firm RMS said flood insurance participation is low in the parishes most affected by floods. Flooding since Aug. 11 has been particularly …

6 Dead, Tens of Thousands Evacuated in Louisiana Flooding

Emergency crews worked through the night to rescue scores of south Louisiana residents from homes and stranded cars as deadly flooding continued to inundate large swaths of the region Sunday, three days after rain-swollen water levels began rapidly rising. From …

SLSOT Using Data to Better Communicate with Surplus Line Market Stakeholders

Surplus lines may not be the most widely understood segment of the property/casualty insurance industry but for risk managers of large organizations it’s often the go-to market for complicated risks for which standard insurance markets have little appetite. That was …

Minnesota Towns Continue to Struggle with Flood Damage

Parts of east-central Minnesota are still trying to cope with floodwaters and subsequent damage nearly a week after torrential rains fell across a huge swath of the state. Kanabec County Sheriff Brian Smith told Minnesota Public Radio that communities flooded …

At Least 2 Dead in Midwest Floods that Damaged Homes, Stranded Motorists

At least two people have died in flooding caused by powerful storms that damaged homes, washed out roads and stranded motorists in Wisconsin, Minnesota and Michigan. In northern Wisconsin, an 84-year-old Illinois man died when his vehicle became submerged in …

Parish Officials Warn of Isolation for Louisiana Flood Buyout Refusal

Rapides Parish officials are warning a handful of holdouts in south Alexandria, La., subdivisions that they could be isolated if they don’t accept federally-financed flood buyouts. Carrie Robinette, grant administrator for the Rapides Area Planning Commission, said officials have purchased …

French & German Floods to Hit Insurers’ Earnings but Not Ratings: A.M. Best

The earnings of French and German insurers during the first half of 2016 will be dampened by flood claims following storms Elvira and Friederike, which pounded the countries in quick succession between late May and early June, according to a …

AIR Worldwide: Storms in Texas Brought Up to 600% of Long-Term Average Rain Amounts

Catastrophe modeling firm, AIR Worldwide, reports that over the last several weeks, much of Texas has experienced 400 percent to 600 percent of long-term average rainfall amounts. The storms have subsided for now, but during the recent storm period many …

Update: German Flood Claims Estimated at $1.1B, Says Fitch Ratings

Insurers will face higher-than-expected claims related to floods in Germany, according to Fitch Ratings, dealing another blow to an industry squeezed by low interest rates and decreasing prices for policies. Claims linked to torrential rain, thunderstorms and floods that hit …