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Gallagher Re’s Mid-Year Natural Catastrophe and Climate Report Highlights 2024’s Severe Convective Storm Impact

Gallagher Re’s Mid-Year Natural Catastrophe and Climate Report Highlights 2024’s Severe Convective Storm Impact

The first half of 2024 saw substantial global insured losses, with US severe convective storms accounting for 61% of the $61 billion total, highlighting the period as the costliest on record.
July 24, 2024 Catastrophe Insurance Industry Property Risk Management Colorado Iowa Oklahoma Texas

Insurance Adjusters Face Overwhelming Workload Challenges

Insurance Adjusters Face Overwhelming Workload Challenges

Adjusters in the insurance industry, particularly those working in property claims, are expressing significant frustration and burnout due to overwhelming workloads and unrealistic expectations.
July 22, 2024 Auto Catastrophe Insurance Industry Workers' Compensation Minnesota

Mulch: An Overlooked Fire Hazard in California’s Landscaping

Mulch: An Overlooked Fire Hazard in California’s Landscaping

In wildfire-prone California, mulch can inadvertently create a fire hazard, prompting homeowners to consider safer landscaping alternatives.
July 22, 2024 Catastrophe Insurance Industry Property Risk Management California

Gulf Coast Disasters 2020-2021: Impacts and Lessons

Gulf Coast Disasters 2020-2021: Impacts and Lessons

Exploring the compounded impacts of multiple disasters on Gulf Coast communities from 2020 to 2021 and the lessons learned to enhance future resilience.
July 22, 2024 Catastrophe Life & Health Property Risk Management Alabama Florida Louisiana Mississippi Texas

Moody’s RMS Estimates $2.5-$4.5 Billion in U.S. Insured Losses from Hurricane Beryl

Moody’s RMS Estimates $2.5-$4.5 Billion in U.S. Insured Losses from Hurricane Beryl

Moody’s RMS estimates U.S. insured losses from Hurricane Beryl between $2.5 and $4.5 billion, with NFIP losses under $300 million and non-U.S. losses not exceeding $1.5 billion.
July 16, 2024 Catastrophe Insurance Industry Property Risk Management Texas

Understanding Hurricane Categories: Why Even "Weaker" Storms Can Be Dangerous

Understanding Hurricane Categories: Why Even "Weaker" Storms Can Be Dangerous

While often dismissed, Category 1 hurricanes and tropical storms can cause significant damage and fatalities, emphasizing the need for a comprehensive understanding of storm impacts beyond mere wind strength.
July 15, 2024 Catastrophe Insurance Industry Risk Management Technology Florida Louisiana New York Texas

Nearly 300,000 Without Power in Texas One Week After Hurricane Beryl

Nearly 300,000 Without Power in Texas One Week After Hurricane Beryl

Hundreds of thousands of Texans remain without power one week after Hurricane Beryl caused widespread damage. Gov. Greg Abbott has demanded an explanation from Houston’s main electricity supplier.
July 15, 2024 Catastrophe Legislation & Regulation Risk Management Technology Texas

Hurricane Beryl Estimated to Cause $3.3 Billion in Insured Losses Across the Americas

Hurricane Beryl Estimated to Cause $3.3 Billion in Insured Losses Across the Americas

Hurricane Beryl is estimated to have caused $3.3 billion in insured losses, with $2.7 billion in the U.S., $510 million in the Caribbean, and $90 million in Mexico.
July 11, 2024 Catastrophe Insurance Industry Property Technology Texas

White House Elevates Infrastructure to Combat Intensifying Floods

White House Elevates Infrastructure to Combat Intensifying Floods

The Biden administration finalizes a policy requiring FEMA-funded reconstruction projects to be elevated above local flood levels to mitigate damage from intensifying floods due to climate change.
July 11, 2024 Catastrophe Legislation & Regulation Property Risk Management Texas

Atlantic Hurricane Season Outlook Predicts More Storms

Atlantic Hurricane Season Outlook Predicts More Storms

Colorado State University has revised its forecast for the 2024 Atlantic hurricane season, predicting an even busier season with 25 named storms and 12 hurricanes.
July 9, 2024 Catastrophe Insurance Industry Legislation & Regulation Risk Management

CoreLogic Estimates Hurricane Beryl’s Insurable Losses in Jamaica, Cayman Islands, and Mexico Under $2 Billion

CoreLogic Estimates Hurricane Beryl’s Insurable Losses in Jamaica, Cayman Islands, and Mexico Under $2 Billion

CoreLogic estimates that Hurricane Beryl caused insurable losses between $400 million and $700 million in Jamaica and the Cayman Islands, with similar losses in Mexico’s Yucatan Peninsula.
July 8, 2024 Catastrophe Insurance Industry Property Risk Management

July 4th Fireworks Ignite Wildfire in New Jersey, Burning 4,000 Acres in Wharton State Forest

July 4th Fireworks Ignite Wildfire in New Jersey, Burning 4,000 Acres in Wharton State Forest

A wildfire caused by July 4 fireworks has burned 4,000 acres in New Jersey’s Wharton State Forest, with containment now at 75%.
July 8, 2024 Catastrophe Legislation & Regulation Property Risk Management New Jersey

Hurricane Beryl Slams Texas with Deadly Force: 90 mph Gusts, Life-Threatening Storm Surge

Hurricane Beryl Slams Texas with Deadly Force: 90 mph Gusts, Life-Threatening Storm Surge

Hurricane Beryl made landfall in Texas, bringing 90 mph winds, torrential rain, and life-threatening storm surge, leaving one person dead and over 1.5 million without power.
July 8, 2024 Catastrophe Insurance Industry Property Risk Management Texas

Hurricane Beryl’s Unprecedented Early Season Impact Signals Climate Concerns

Hurricane Beryl’s Unprecedented Early Season Impact Signals Climate Concerns

Hurricane Beryl’s rapid intensification in early July breaks records and raises concerns about future storm activity due to climate change.
July 2, 2024 Catastrophe Property Risk Management Texas

Big Florida Insurers Close Nearly Half of Homeowner Claims Without Payment

Big Florida Insurers Close Nearly Half of Homeowner Claims Without Payment

Weiss Ratings, an independent insurance rating agency, reports that three major Florida homeowners insurance providers closed nearly half of their claims last year without any payment.
July 2, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida
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