Port Royal bore the brunt of the area’s damage from Tropical Storm Elsa earlier this month when a tornado hit downtown. But the storm also spawned a large wave that crashed into an isolated area of the town’s waterfront, cracking more than 30 wooden pilings at the former state-owned terminal building.
The Surfside collapse has killed at least 97 people as of the writing of this article and is now causing greater concerns over the Florida homeowners insurance market.
Insurance is essential for individuals, businesses, and communities to recover quickly from natural catastrophes ‑ but perils have evolved to a point at which risk transfer, though necessary, isn’t enough to ensure resilience.
A woman was found dead and three other people were missing after rain triggered flooding and mudslides in an area of northern Colorado burned by a large wildfire last year, authorities said Wednesday.
A major Kansas City health insurance provider is accusing a medical laboratory of price gouging for COVID-19 tests, charging roughly 10 times more than other companies.
Analysts at Moody’s have labelled the recent catastrophic flooding in Germany as a ‘consequence of climate change,’ and warned that German insurers could find it challenging to protect homeowners against climate risk in future without significant price increases.
Central Europe’s worst flooding in many decades has left the region in shock, with corridors of destruction carved across the landscape of western Germany and eastern Belgium.
Litigation funding – in which third parties assume all or part of the cost of a lawsuit exchange for an agreed-upon percentage of the settlement – is often cited as contributing to social inflation.
A judge ruled California’s insurance commissioner can order the ‘insurer of last resort’ to offer more options for homeowners who live in wildfire-prone areas and can’t buy traditional coverage.
A long driveway takes you up to the red brick house with an expansive front porch and giant white pillars. Once inside, a grand foyer and stairs lead you up or down.
An explosion that left six people injured and destroyed a house in Plano, Texas, on Monday was likely caused by a gas leak, officials said.<br /><br />The leak was isolated to the home on Cleveland Drive, which was leveled, according to Plano Fire-Rescue. The explosion also damaged other houses, but no other homes were in danger after the blast.<br /><br />Helicopter news video showed debris scattered over the neighborhood after the explosion at 4:40 p.m. Monday.<br /><br />Six people were taken to hospitals — one who was inside the house that exploded and five from a home next door — the fire department said.<br /><br />Three of the injured were transported to a children’s hospital, officials said. The ages of those hurt were not immediately available.
Back in 2017, we wrote about the impact that modern deposition management services can have on the leading impediments to insurance company profitability: unallocated loss adjustment expenses (ULAE), allocated loss adjustment expenses (ALAE), and losses paid out to claimants.
Employer defendants in more than half of the COVID-19 injury or wrongful death lawsuits being tracked by the National Council on Compensation Insurance argue that the workers compensation exclusive remedy provisions in state laws bar such litigation.
