Articles by Ezra Amacher

Hurricane Beryl Caused $2.5-$4.5B in Estimated Insured Losses, Says Moody’s

U.S. insured losses from Hurricane Beryl will likely fall between $2.5 billion to $4.5 billion, according to estimates by Moody’s RMS Event Response. Insured losses associated with the storm include wind, storm surge, and precipitation-induced flooding. Moody’s estimates total non-U.S. …

Texas Health System Loses COVID-19 Business Interruption Suit

A Texas nonprofit health system who purchased a specialized commercial property insurance policy is not covered for business interruption losses caused by COVID-19, a 5th Circuit Court of Appeals panel ruled, relying on existing precedent that COVID-19 does not physically …

Insurers Seek Subrogation Over Ohio Train Derailment

Four insurance companies filed a subrogation lawsuit against Norfolk Southern in federal court, alleging the rail carrier’s negligence led to the 2023 East Palestine, Ohio train derailment and subsequent fire, explosion and release of toxic chemicals. Erie Insurance Company and …

Hurricane Beryl: Insurers See Minimal Impact, Brace for Active Season

Insurers’ losses from Hurricane Beryl will be “low and readily absorbed” and the storm is not expected to change pricing conditions in the property/casualty and reinsurance sectors, Moody’s Ratings said. Beryl made landfall along the Texas coast as a category …

‘We’re All Going to See the Impact’ – Beryl Could Worsen Texas Insurance Crisis

Insurance agent Ian Hartgrove was one of many Houston residents caught off guard by the size of Hurricane Beryl, which made landfall on the Texas Gulf Coast Monday morning. Beryl had weakened to a Category 1 hurricane by the time …

Texas Health System Loses COVID-19 Business Interruption Suit – 5th Circuit

A Texas nonprofit health system who purchased a specialized commercial property insurance policy is not covered for business interruption losses caused by COVID-19, a 5th Circuit Court of Appeals panel ruled, relying on existing precedent that COVID-19 does not physically …

Insurers Seek Subrogation Against Norfolk Southern Over Ohio Train Derailment

Four insurance companies filed a subrogation lawsuit against Norfolk Southern in federal court last week, alleging the rail carrier’s negligence led to the 2023 East Palestine, Ohio train derailment and subsequent fire, explosion and release of toxic chemicals. Erie Insurance …

Floodwaters Inundate Midwest, Where Flood Insurance is Rarely In Force

Floodwaters damaged hundreds of properties this week across parts of Nebraska, Iowa, Minnesota and South Dakota as the Midwest recovers from days of intense rainfall. Three days of torrential downpours resulted in as much as 18 inches of rainfall in …

Louisiana Lawmakers Pass Auto Insurance Reform Bills

Louisiana lawmakers passed a series of auto insurance reform bills that aim to bring availability and competition to the market by cutting down on excessive verdicts and settlements. Legislators passed four bills endorsed by Insurance Commissioner Tim Temple that he …

Contractors Can’t Advertise ‘Insurance Negotiating’ Skills, Texas Supreme Court Says

A contractor cannot be the public adjuster on a claim and cannot advertise itself as an insurance claims negotiator if it does not hold an adjusters’ license, the Texas Supreme Court decided in a case that could give support to …