A Maui judge’s ruling resolves a critical roadblock to finalizing a $4 billion wildfire settlement: Insurance companies who have paid out more than $2 billion in claims can seek reimbursement only from the settlement amount defendants, who victims blame for …
More than three-fourths of properties flooded by Hurricane Debby last week were outside a designated flood hazard area and were likely to be uninsured for the water loss. Many of those properties were concentrated in spots seemingly far away from …
Insurers and reinsurers’ losses from Hurricane Debby are expected to be in the low single-digit billions of dollars, a figure that would be “very manageable” for the industry, according to a report from Gallagher Re. Wind and water-related losses could …
Verisk’s Property Claim Services unit confirmed reports it has designated the recent global information technology outage as a cyber catastrophe event. With the designation, PCS Global Cyber believes what has come to be known as the CrowdStrike event will cause …
Global insured losses from last week’s massive IT outage are likely to range from $400 million to $1.5 billion, cyber analytics firm CyberCube said on Thursday. A software bug in cybersecurity firm CrowdStrike’s quality-control system caused the software update that …
TALLAHASSEE, Fla. (AP) — Recovery from a May 10 tornado outbreak has cost Florida’s capital city $50 million so far, Tallahassee Mayor John Dailey said Friday. Florida officials have requested that the Federal Emergency Management Agency declare a major disaster, …
The same weather system that spawned deadly tornadoes in Texas, Oklahoma and Arkansas also killed five people in western Kentucky and left hundreds of properties damaged. Local news reports said that people died in Mercer County, Hardin County, Hopkins County …
The tornadoes that ripped through parts of Nebraska, Iowa and Oklahoma late last week damaged some 7,200 homes, leaving a reconstruction tab of $2.1 billion, according to CoreLogic, the data analytics firm. Some 127 tornadoes spun out of a severe …
The economic losses from the latest round of California storms will be significant, with many of these losses may not be insured because only 2% of California residents have purchased flood insurance, David Blades, associate director, industry research and analytics, …
By most measures, California usually tops the list of the states most at risk of fires, but a new report shows the state’s residents and their desires to stay warm in chillier months may be making the state even riskier. …
