hail insurance News

Wisconsin’s Understory Launches Hail Insurance for Auto Dealers in 5 New States

Madison, Wis.-based Understory, which offers parametric insurance for severe weather risks, has launched its supplemental hail insurance product for automotive dealers in five new states: Arizona; New Mexico; Ohio; Pennsylvania and Wyoming. Auto – Hail Safe from Understory allows automotive …

Hail Has Damaged Insurance Market for Car Dealers. Parametric Insurance May Help.

Nick Pacifico has been working at his family’s Cadillac dealership in Denver since 2003. He’s never seen insurance costs this bad. “Getting coverage is nearly impossible,” said Pacifico, vice president at Rickenbaugh Automotive Group. Two years ago he paid about …

Top 10 States for Hail Claims: State Farm

State Farm recently started a spring storm campaign to educate consumers on hail damage. The insurer collected its homeowners’ claims data for hail damage based on total paid losses for 2017. That number totaled more than $3 billion nationwide. Using …

Montana Farmers Get Hail Insurance Refund

The state says that Montana farmers who bought hail insurance will be getting a 25 percent refund. The Montana Hail Board made the decision after reviewing at a recent actuarial report at its annual meeting. The Montana Department of Agriculture …

Report: Colorado and Oklahoma Cities Dominate Top 10 Hail Prone Metro Areas

Metropolitan areas in Colorado and Oklahoma have the distinction of making up more than half the list of top 10 hail-prone areas in the U.S., according to a recently released study. The list, which was compiled by CDS Business Mapping, …