Irma’s insured damage in Florida could be the largest ever in the US, perhaps equivalent to Hurricane Katrina in 2005 which recorded $50 billion on an inflation-adjusted basis, Barclays analyst Jay Gelb said in a Sept. 5 equity research analyst note.
Flooding and wildfires are making massive headlines this summer and this extreme weather risk is placing considerable pressure on the property insurance industry.
Owners of about 16.5 million Honda and Acura vehicles with potentially defective Takata air bags are eligible for financial aid in getting their cars fixed and up to $500 in compensation under the terms of a new consumer settlement.
The Chevy Malibu produced a putrid cloud of must and steam as Troy Rondeno peered beneath the steering wheel. The saturated carpet reeked of mildew and hot plastic, and white spots of mold climbed the sedan’s black leather seats as it languished in a North Houston salvage yard.
Hurricane Irma is on a crash course with Florida, according to the latest projections by the National Hurricane Center. Irma’s veering north into Florida has seemed likely for a few days, but the 8 a.m. Wednesday update by the NHC gives it more certainty, though there’s always a chance hurricanes will behave unpredictably.
Evacuation orders are being given in the Florida Keys as Monroe County emergency managers prepare for Hurricane Irma. Key West International Airport will close Wednesday night, cancelling all commercial flights until further notice.
Florida Gov. Rick Scott (R) has declared a statewide emergency in response to Hurricane Irma, a roiling storm that intensified into “an extremely dangerous Category 5 hurricane” while it churned toward the United States.
After Hurricane Harvey spawned epic flooding along the Gulf Coast, insured flooding victims will be able to get financial relief a little bit faster. The Federal Emergency Management Agency announced a temporary change Monday that would "rush recovery money" into the hands of National Flood Insurance Program policyholders.
Salvage efforts continued on Monday to remove a sunken drydock in an industrial portion of the Houston Ship Channel, home to major oil refineries and petrochemical plants, officials said.
Irma on Tuesday intensified into an extremely dangerous Category 5 hurricane on the Saffir-Simpson wind scale, the U.S. National Hurricane Center (NHC) said in its latest advisory.
French chemical firm Arkema SA (AKE.PA) said an evacuation zone put in place amid fears that more flammable organic pesticides at its flooded plant in Crosby, Texas, would explode was lifted on Monday after the materials were ignited in a controlled burn.
Hurricane Irma has strengthened to a Category 4 storm and the National Hurricane Center (NHC) said there is an "increasing chance" that Florida and the Florida Keys will see "some impacts from" Irma later this week and weekend, though it’s still too early to determine what direct effects it may have.
Despite scorching temperatures, firefighters made slow, steady progress against the Ponderosa Fire in Butte County, which was reported 64 percent contained early Sunday evening.
A tropical wave in the eastern Atlantic Ocean strengthened into a tropical storm Wednesday morning and has been officially named Irma.<br />Forecasters from the National Hurricane Center said Irma poses no immediate threat to any land but is expected to strengthen as it continues its westward track across the Atlantic.
For months, political foes like Marco Rubio and Elizabeth Warren united behind a push to overhaul the nation’s flood insurance program by capping annual premium increases and focusing on preventing damage in future floods. Hurricane Harvey could change all of that.
