property losses News

Record Western Wildfires a Contrast in Otherwise Quiet Year for U.S. Natural Disasters

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 …

Heavy Rains Cause Major Floods, Mudslides in China: AIR Worldwide

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 …

Costs Rising in Minneapolis Water Main Break

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 Downgrades Texas-Based Columbia Lloyds, MDOW Insurance

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 …