Deductibles serve several purposes. They provide some premium relief for the insured. They make insureds less likely to file smaller claims because either damage falls within the deductible, or is so close to it that the policyholder would rather not …
Fitch Ratings expects Hurricane Milton to cause between $30 billion and $50 billion in insured losses to push total industry losses in 2024 above $100 billion for the fifth straight year. The range of losses expected by rating agency Fitch …
The insurance industry faces significant challenges in covering catastrophic risks, especially as climate change drives more extreme weather events. With soaring premiums and increasing exclusions, the need for an accurate assessment of these risks is more important than ever. The …
The remnants of Hurricane Kirk are forecast to hit France on Wednesday, after weakening to a post-tropical cyclone. The storm will bring wind gusts as strong as 150 kilometers (93 miles) per hour to the Pyrenees, according to Météo-France. It …
The remnants of Hurricane Kirk are forecast to hit northwest France on Wednesday, bringing heavy rain and gale-force winds. Hurricane Kirk peaked at Category 4 storm over the Atlantic last week, but is weakening as it heads toward Europe. Still, …
The Federal Emergency Management Agency can meet immediate needs but does not have enough funding to make it through the hurricane season, Homeland Security Secretary Alejandro Mayorkas told reporters Wednesday. The agency is being stretched as it works with states …
On Thursday night Helene crashed into Florida’s coast as a Category 4 hurricane. The giant storm with 140-mile-per-hour winds made landfall close to where Hurricane Debby hit in August and where Idalia struck just over a year ago. It quickly …
Hurricane John hit Mexico’s southern Pacific coast late on Monday as a major category 3 storm, with authorities warning residents to protect themselves against potentially deadly storm surges and torrential rain. The storm, packing maximum sustained winds of 120 mph …
Losses from Hurricane Francine are expected to be manageable for property/casualty insurers, with major population centers sparred from the worst of the storm’s damage. Privately insured loss from Hurricane Francine are estimated to be close to $1.5 billion, catastrophe modeler …
Warm water in the Atlantic Ocean and Gulf of Mexico can fuel powerful hurricanes, but how destructive a storm becomes isn’t just about the climate and weather – it also depends on the people and property in harm’s way. In …
