flood News

London Imports Climate-Related Risks Through Insurers, Supply Chains

London is importing climate-related risks through investments, insurers and supply chains, according to a new report that details dangers posed to the UK capital by global warming beyond the physical effects. More than half of FTSE 100 companies and 60 …

West Virginia Declares State of Emergency After Severe Flooding in 3 Counties

West Virginia Gov. Earl Ray Tomblin declared a state of emergency July 13 for Braxton, Webster and Wood counties after severe flooding. The state of emergency seeks to address the rockslides, mudslides and severe flooding that resulted from heavy rain …

UK Insurers to Stress Test Capital Reserves Against Synchronized Terrorist Attack

UK regulators have asked property and casualty insurers to stress test their capital reserves against catastrophes, including a synchronized terrorist attack in London, New York and one other major city. The Prudential Regulation Authority (PRA) published the exercises last week …

North Dakota Officials Want Corps as Part of River Flood Plan

North Dakota officials are pushing the Army Corps of Engineers to make long-term flood protection for the Souris River Valley a priority. Local and state officials fear that any work they do on a proposed $1 billion protection plan might …

Deadline to File Flood Insurance Claims in Oklahoma Extended

Oklahoma’s insurance commissioner says property owners who experienced flood damage during heavy rainfall in May and June have more time to file insurance claims. Commissioner John Doak said the Federal Emergency Management Agency has given National Flood Insurance Program policyholders …

Storm Brewing Over Yucatan Peninsula Threatens Texas and Louisiana

The Atlantic’s second storm of the year may be developing over the Yucatan Peninsula, with the potential to reach Texas and Louisiana and flood Houston for the second time in a month. Thunderstorms moving northwest from the Yucatan along the …

Is it Flood or Water Damage – Part IV of Flood, Flood or Flood

To review prior articles, links are here for Part I, Part II, and Part III.  Part IV What the Insured Said Let’s bring this discussion back full circle to discuss what happened. What did the insured actually mean by “We …

El Niño Likely to Last Through Northern Hemisphere Summer: U.S. Forecaster

The El Niño climate phenomenon is almost certain to last through the Northern Hemisphere summer, the U.S. weather forecaster said, raising the chance of heavy rain in the southern United States as well as South America, and scorching heat in …

Flood, Flood or Flood! Who Responds: AAIS, ISO or NFIP? – Part III

Part III AAIS’s Flood Coverage Endorsement “Flood” becomes a covered cause of loss by attachment of AAIS’s Flood Endorsement CO 1223 (The Flood Endorsement specifically designed for the COP XL is endorsement/form number OP 1101. This form applies the same …

Flood, Flood or Flood? – Part II

In case you missed it (and don’t want to begin in the middle of the conversation), here is the link to Part I.  Part II AAIS’s COP and COP XL Coverage Forms AAIS’s COP and COP XL are designed and …