Losses in Puerto Rico from Hurricane Ernesto are expected to be absorbed by the island’s domiciled insurers, according to industry rating AM Best. Initial feedback from AM Best-rated insurers—though it is early in the claims process—indicates that property losses from …
CROSS CITY, Fla. (AP) — An elderly man who was cleaning debris from Hurricane Idalia in north Florida when a tree fell on him has been declared the state`s third death from the Category 3 storm, officials said Thursday. The …
Florida property insurance experts have long warned that a powerful hurricane strike on a major metropolitan area could result in catastrophic losses and the insolvency of more carriers. Those warnings could become reality by the end of the week if, …
It was a relatively quiet year for natural disasters – except for those living in the Western U.S. Property data provider CoreLogic today released its annual Natural Hazard Risk Summary and Analysis. The report shows “a continued trend of fewer …
AIR Worldwide reports that “days of heavy rain across the mountainous Yunnan and Sichuan provinces of southwestern China have caused widespread flooding and triggered landslides. Official reports state that 99 centimeters (39 inches) of rain fell in the city of …
Minneapolis, Minn., officials said they haven’t begun to tally the costs of a massive water main break that sent 14 million gallons of water gushing into downtown streets last week, submerging dozens of vehicles and forcing local businesses to shut …
A.M. Best Co. has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and issuer credit ratings to “bbb” from “a-” of Columbia Lloyds Insurance Co. (Columbia Lloyds) and its wholly owned and 100 percent reinsured subsidiary, MDOW …
