Hurricane Maria News

Judge Says FEMA Can End Motel Payments for Hurricane Maria Evacuees

A federal judge on Thursday rejected a request to block the U.S. government from cutting off aid to hundreds of Puerto Rican families who fled the hurricane-ravaged island in 2017 and are living in hotels and motels across the United …

Hurricane Maria Likely Killed 1,139, Far More Than Government Tally: Penn State Study

Some 1,139 people are likely to have perished after Hurricane Maria hit Puerto Rico in September, far more than the official death count of 64, according to a Pennsylvania State University study published Thursday in the Journal of the American …

N.Y. Updates Insurance Company Disaster Response, Recovery Plan Requirements

The New York Department of Financial Services (DFS) has issued updated disaster response and recovery plan requirements for all insurance companies licensed to conduct business in New York state. It issued these updated requirements in light of disasters that may …

Natural Disasters Cost Insurers a Record $144 Billion in 2017: Swiss Re’s sigma

Global insured losses from natural catastrophes were US$144 billion in 2017, the highest-ever recorded in a single year, according to the latest sigma study from the Swiss Re Institute. The biggest losses came from Hurricanes Harvey, Irma and Maria (HIM), …

2017’s Natural Hazards and the Destruction They Brought: CoreLogic

CoreLogic’s annual Natural Hazard Risk Summary and Analysis shows that 2017 was a year of relatively average activity for most U.S. natural hazards with the exception of wildfires in California and flooding from Hurricanes Harvey and Irma. The annual report …

2017 ‘One of Worst’ for U.S. Weather with 15 Events Costing $1 Billion or More

In the year that President Donald Trump pulled out of the Paris accord and downplayed global warming as a security threat, the U.S. received a harsh reminder of the perils of the rise in the planet’s temperature: a destructive rash …

2017 Hurricane Season Ranks as Costliest Ever for U.S.

This year’s U.S. Atlantic hurricane season is officially the most expensive ever, racking up $202.6 billion in damages since the formal start on June 1. The costs tallied by disaster modelers Chuck Watson and Mark Johnson surpass anything they’ve seen …

Puerto Rico Bond Insurers’ Stocks Fall After ’60 Minutes’ Episode on Hurricane Maria

Shares of three major bond insurance firms with exposure to Puerto Rico fell on Monday after a “60 Minutes” episode aired on Sunday highlighted the extensive damage wreaked on the island by Hurricane Maria. Andrew Gadlin, a research analyst at …

Swiss Re Posts $468M 9-Month Loss, Anticipates Re/Insurance Rate Hikes

A rise in insurance premiums, especially in areas affected by recent hurricanes and disasters, will help Swiss Re recover from almost half a billion dollars of losses in the first nine months of this year, it said on Thursday. “We …

Global Re/Insurers Seek Premium Hikes After Costly 3rd Quarter

Insurers and reinsurers around the globe are looking to raise rates after what looks set to be their most costly quarter on record. Hurricanes Irma and Maria alone caused as much as $135 billion in insured losses, according to modeling …