Citing the devastating impacts of Hurricane Helene in southwest Virginia, Governor Glenn Youngkin submitted a request to President Joseph Biden, President-elect Donald Trump and Congressional appropriators for $4.4 billion in federal support. Youngkin said the aid is needed to support …
ERWIN, Tenn. (AP) — Rescue workers in Tennessee have recovered the body of the final person still missing after massive flooding from Hurricane Helene hit a plastics factory there. Rosa Andrade, 29, was one of six employees killed after they …
Florida’s Hurricane Catastrophe Fund, a state-created layer of reinsurance, expects to pay out about $4.6 billion to help cover insurers’ losses in Hurricanes Helene and Milton. But that won’t trigger a surcharge on premiums. And a number of Florida property …
AM Best’s population of global reinsurance companies posted a return on equity (ROE) of 22% in 2023 – a five-year high that was driven mainly by favorable investment income and strong underwriting performance. The fundamentals are excellent, but Hurricanes Helene …
Officials in two Southeastern states have taken steps to hold insurers or recipients of insurance funds accountable after Hurricanes Helene and Milton spurred thousands of insurance claims. The Tennessee Department of Commerce and Insurance reminded insurance carriers that they must …
The third quarter of 2024 saw a significant number of natural disaster events, which drove year-to date economic losses above at least $258 billion and insured losses of at least $102 billion, according to Aon plc in its Q3 Global …
Nearly 1,000 hurricane-impacted households in North Carolina and Florida will benefit this week from a new disaster aid program that employs a model not commonly used by philanthropy in the United States: Giving people rapid, direct cash payments. The nonprofit …
North Carolina Gov. Roy Cooper approved more than $600 million worth of disaster relief funding last Friday for western North Carolina counties affected by Hurricane Helene after legislators passed the recovery bill the day before. The bill is the second …
Liberty Mutual Insurance today said it expects up to $900 million in losses from hurricanes Helene and Milton. Parent Liberty Mutual Holding Company (LMHC) in a statement released some preliminary third quarter information “in support of a potential capital markets …
More loss and claims estimates are trickling in from carriers after Hurricane Milton caused widespread wind and flood damage in Florida this month. Tampa-based Heritage Insurance Holdings said in a preliminary statement that about two weeks after Milton made landfall …
