While Florida’s property insurance landscape appears to be leveling out, much more funding is needed to fortify homes against hurricane winds and prevent devastating losses for insureds and insurers, a few panelists said at the Florida Chamber’s Insurance Summit last …
More rich and more poor residents will qualify for home-hardening grants under an expanded My Safe Florida Home measure approved by lawmakers. House Bill 881, if signed into law, will raise the wind-mitigation grant level for low-income Florida homeowners from …
Just a few days into earnings season for the third quarter, a number of carriers have published loss estimates for insurance claims from Hurricane Ian, or prewarned investors about loss figures that will dent their bottom lines. A recap of …
By 2050, climate change-related weather events will have a meaningful impact on future hurricane losses, increasing them by 20% or more and in some cases doubling them, even without any increase in the concentration of property exposure along the coast, …
Estimated total insured losses from Hurricane Isaias will be between $3.0 and $4.5 billion in the U.S. This includes estimated losses to the National Flood Insurance Program (NFIP) of between $400 and $700 million, according to RMS, the catastrophe risk …
The insured loss from Tropical Storm Fay will be close to $400 million, according to catastrophe risk modeling firm Karen Clark & Company (KCC). KCC said its estimate includes the privately insured wind and storm surge damage to residential, commercial …
Frenchman’s Reef, the largest resort on St. Thomas, was smashed by Hurricane Irma, which breached roofs, caved in walls and felled trees across the oceanfront property. Two years later, the hotel remains closed as its owner quarrels with insurers over …
The value of coastal exposures along the Atlantic and Gulf coasts have experienced a compound annual growth rate of about 4% over the past decade, according to catastrophe risk modeling firm AIR Worldwide. AIR released its “Coastline at Risk” analysis …
Compared with 2017, last year’s hurricane season was a relatively quiet one for the Gulf Coast states of Louisiana and Texas, with major U.S. storm systems such as Hurricanes Michael and Florence staying well to the east, impacting Florida and …
The property/casualty re/insurance industry should be able to absorb the losses from Hurricane Michael, on top of losses from Hurricane Florence, as capital remains very strong, according to Fitch Ratings. Hurricane Michael will push 2018 closer to a more normal …
