Florida hurricanes News

Cat Simulations Test London Insurers’ Vulnerabilities to Next ‘Big One’

A major $200 billion loss from a combination of a cyber attack, U.S. hurricane and the failure of a reinsurer could strip insurers of up to 120 percent of their net capital base, tests of insurers in London showed. However, …

A.M. Best: Damage From Hurricane Matthew Won’t Affect Most Insurer Ratings

A.M. Best does not anticipate a significant number of rating actions related to Hurricane Matthew, as most rated insurance carriers have sufficient capital and appropriate reinsurance programs in place to effectively absorb this event, according to a new briefing from …

Hurricane Matthew May Be Gone, But Insurance Industry’s Work is Just Starting

It’s been nearly a week since Hurricane Matthew ravaged the Southeast coast but the insurance industry’s job of responding to the devastation and assessing the total cost of damage from the storm is just beginning. With flood waters still rising …

Citizens Warns Florida Policyholders of AOB Scams in Wake of Hurricane Matthew

Citizens Property Insurance Corp. is urging its policyholders to call Citizens first to report losses following Hurricane Matthew in order to protect themselves from assignment of benefit (AOB) scams, according to a statement from the company. “Citizens is ready to …

Hurricane Matthew More Hype Than Bite So Far But Insurers, Agents Remain on Alert

While Hurricane Matthew rages along Florida’s coast, with the end potentially still hours away, the insurance industry seems to be breathing a sigh of relief, thus far. As of Friday morning, Matthew seemed to have spared South Florida major damage …

Florida Gov: Some 600,000 Florida Homes Without Power Due to Hurricane

About 600,000 Florida homes were without power on Friday due to Hurricane Matthew and more outages were likely, Governor Rick Scott told a news conference, as the storm moved near the state’s Atlantic coast on a northward track after killing …

Report: Florida Coastal Communities Rebuilt, Ready to Face Future Storms

Since eight hurricanes whipped through Florida during back-to-back seasons a decade ago, causing $33 billion in insurance claims, the state’s coastal communities have added an additional 1.5 million people and almost a half-million new houses, an Associated Press analysis shows. …

Florida’s Hurricane Insurance Fund Replenished and Ready After 9 Quiet Years

Florida’s nine-year streak of avoiding hurricanes is helping the state reach a historic milestone: for the first time ever, the state-created fund designed to help pay out claims after storms has enough cash and assets on hand to pay off …

Hurricane Season and Florida’s Insurance System: Living on Borrowed Time?

Mother Nature has been kind to Florida’s coastline lately with a record run of seven years without a hurricane making landfall, allowing property insurers time to re-stock their depleted coffers. As a result, before the new six-month hurricane season got …

Hurricane Center Working to Improve Storm Surge Forecasts After Wet 2012

Last year’s hurricane season drove home some big lessons, according to the nation’s chief hurricane forecaster: Storm surge and flooding are dangerous and difficult to predict, and sometimes it’s even harder to communicate that sense of urgency to the public. …