property damage News

11 Dead After Storms Sweep Southern U.S., Midwest

Severe storms sweeping across southern portions of the U.S. and up into the Midwest were blamed Saturday in the deaths of at least 11 people, including two first responders, as high winds, tornadoes and unrelenting rain battered large swaths of …

2018 California Wildfires – An Actuarial Review

2018 was another catastrophic year for wildfires across the United States. Nearly 9 million acres burned, and many lives, homes and businesses were lost. California alone had over 1.8 million acres burned, and the Camp fire was the deadliest and …

Bankrupt Philadelphia Refinery Expects $50M Advanced Insurance Payment

Insurers of a fire-damaged Philadelphia refinery have indicated they would make a $50 million initial advance payment in connection with a June blaze that led to the plant’s closure, court documents showed. The infusion of funds would buy cash-strapped Philadelphia …

Bank Drops Objection to Financing Request by Bankrupt Philadelphia Energy Solutions

A bank dropped its objection on Tuesday to Philadelphia Energy Solutions Inc’s initial bankruptcy requests after the two sides struck an agreement over the terms of new financing. PES filed for Chapter 11 bankruptcy protection on Sunday after a fire …

Severe Weather Spurs Flooding, Disrupts Rail Service in Pennsylvania

Severe storms containing heavy rains and strong winds have spurred flooding in the suburbs of Philadelphia, disrupting travel and damaging some property. The storms started Wednesday night and continued for several hours through early Thursday. It was the latest round …

Officials Assess Damage After Tornado Confirmed in Maryland

The National Weather Service says a tornado touched down in Howard County, Maryland. The Baltimore Sun reported Friday that weather service meteorologists plan to survey the area to assess the damage. There were reports of downed trees and damage to …

Damage to Homes, Large Hail Reported in Pennsylvania After Severe Storms

Severe storms swept through Pennsylvania and several tornadoes were reported, causing damage to some homes but no immediate reports of injuries. Emergency dispatchers in eastern Pennsylvania’s Berks and Chester county reported roof damage and some partial collapses in Caernarvon Township, …

Is Sea Rise Wrecking Coastal Home Values? The Answer: Maybe

For sale: waterfront property with sweeping views of the Atlantic Ocean. Waves erode beach regularly. Flooding gets worse every year. Saltwater damage to lawn. Asking price: anyone’s guess. Some research suggests rising sea levels and flooding brought by global warming …

Mass. Court Finds Insurer Duty to Defend Subcontractor in Property Damage Case

A Massachusetts Appeals Court has ruled that an insurance company is responsible for insuring alleged property damage caused by its subcontractor client, vacating an earlier Superior Court decision that the insurer has no duty to defend the subcontractor in this …

High Winds Down Trees, Power Lines, Cut Power to Thousands in Pennsylvania

High winds have been bringing down trees and power lines in western Pennsylvania, leaving tens of thousands of utility customers without power. The National Weather Service issued a high wind warning covering many areas of the commonwealth into Monday with …