storm losses News

Christmas in the Dark? Post-Storm Power Outages Linger for Thousands in Maine

Tens of thousands of utility customers in Maine may face Christmas without electricity as post-ice storm power outages continue in the region. In Maine, the Central Maine Power, a subsidiary of Iberdrola USA which delivers electricity to more than 600,000 …

FM Global Advises Property Owners to Be Proactive, Address Vulnerabilities

Business property insurer FM Global is urging property owners to take active measures now to help prevent potential storm losses as the peak of hurricane season approaches. “A big lesson from Hurricane Sandy is that remaining resilient during natural disasters …

Weather Service Confirms St. Louis-Area Tornadoes

Portions of suburban St. Louis waged a soggy cleanup effort on June 1 after severe storms unleashed an outbreak of tornadoes across the region, damaging hundreds of homes and leaving tens of thousands without power. No serious injuries were reported, …

New York State Releases Plans for $1.7B in Sandy Funds

New York Gov. Andrew Cuomo announced statewide plans Tuesday to use $1.7 billion in federal storm-damage funds for home repairs, government buyouts of property in flood-prone areas, low-interest loans, flood-prevention measures, and other recovery work. Most of the money will …

National Hurricane Center Report: Sandy Was 2nd-Costliest Hurricane in U.S.

Superstorm Sandy was the deadliest hurricane in the northeastern U.S. in 40 years and the second-costliest in the nation’s history, according to a report released Tuesday, Feb. 12.The storm’s effects reached far and wide, according to the National Hurricane Center …

List of Company-Specific Sandy-Related Loss Estimates

Since Superstorm Sandy slammed into the New Jersey coastline on Oct. 29, 2012, dozens of insurers and reinsurers have publicly announced their Sandy-related preliminary loss estimates. The following are the latest company-specific estimates as of Jan. 8, 2013 (in alphabetical …

Alleghany Expects $288M Sandy Loss; Assurant Estimates $200M Loss

Alleghany Corporation said this week its preliminary estimate of after-tax loss related to Sandy — net of reinsurance and reinstatement premiums — would be approximately $288 million. Alleghany said this estimate reflects a consolidated pre-tax loss estimate, net of reinsurance …

Travelers Cos.’ Preliminary Estimate: $650M Net Loss From Sandy

The Travelers Companies Inc. announced its preliminary estimate of net losses relating to Superstorm Sandy is approximately $650 million after tax and after estimated recoveries from reinsurance. This $650 million estimate reflects a gross loss estimate (pre-tax and before reinsurance) …

What We Know About Superstorm Sandy a Month Later

Superstorm Sandy wreaked havoc on parts of the U.S. East Coast in late October after tearing through the Caribbean. In the weeks since, the storm’s scope has come into sharper focus.

N.Y. Sen. Schumer: Officials in Intense Lobbying Effort for Federal Sandy Aid

New York Sen. Charles Schumer says New York expects to get tens of billions of dollars in federal money to cover damages from Superstorm Sandy.However, the Democrat told a news conference Sunday that it’s not a done deal.