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Fraud Wave Expected in Southwest Florida as Hurricane Money Arrives

Fraud Wave Expected in Southwest Florida as Hurricane Money Arrives

Kathryn Schweitzer worked recently in the yard in front of her small, yellow house in a North Port neighborhood where mildewing furniture, drywall and other personal belongings line the streets, the remains of destruction left behind by Hurricane Ian.
Schweitzer tries to shrug off the $8,000 she’s paid so far "just to get the walls back" in her flood-damaged home, because "if you can’t cry, you get to laugh."
November 8, 2022 Catastrophe Fraud Property Florida

How to Minimize Fraud in Disaster Claims

How to Minimize Fraud in Disaster Claims

Floridians whose properties were destroyed or damaged by Hurricane Ian are expected to file between $53 billion and $74 billion in insurance claims. The federal government will disburse billions more in disaster assistance through tax relief, subsidies and direct grants.
November 7, 2022 Catastrophe Technology

What’s The Fix For The Florida Property Insurance Crisis?

What’s The Fix For The Florida Property Insurance Crisis?

We have written here before about the dreadful state of the property insurance market in Florida. A proof of concept was definitely not needed, but Hurricane Ian provided it anyhow. Insured losses from Ian have been estimated at between $28 billion and $47 billion; add uninsured losses and estimates balloon to $70 billion.
November 3, 2022 Catastrophe Legislation & Regulation Florida

The Science Behind Subrogating Catastrophic Flood Losses

The Science Behind Subrogating Catastrophic Flood Losses

They refer to it simply as ‘The Storms of 98.’ Fierce rains and high tides combined to make San Francisquito Creek overflow its banks at 1 a.m., inundating houses, cars and streets. Firefighters used boats to rescue people trapped in their homes and school buses took evacuees to the Cubberley Community Center for shelter in the predawn hours. Approximately 1,700 properties in East Palo Alto, Palo Alto and Menlo Park were damaged.
November 1, 2022 Catastrophe Subrogation

2021 Colorado Wildfire Claims Exceed $2B

2021 Colorado Wildfire Claims Exceed $2B

A wildfire that destroyed nearly 1,100 homes and businesses in suburban Denver last winter caused more than $2 billion in losses, making it by far the costliest in Colorado history, the state insurance commissioner said.
October 28, 2022 Catastrophe Property Colorado

Florida’s ‘Cat Fund’ Eyes $10B in Ian Losses

Florida’s ‘Cat Fund’ Eyes $10B in Ian Losses

The Florida Hurricane Catastrophe Fund, a state program that provides critical backup coverage to property insurers, is estimated to have $10 billion in losses from Hurricane Ian, officials said Wednesday.
October 27, 2022 Catastrophe Florida

Number of Claims Filed For Hurricane Ian Near 475K

Number of Claims Filed For Hurricane Ian Near 475K

The National Insurance Crime Bureau (NICB) has issued an advisory that policyholders should be on the lookout for scammers, as the number of insurance claims filed related to Hurricane Ian hits nearly half a million.
October 26, 2022 Catastrophe Fraud Property Florida

Western Wildfires are Making Far Away Storms More Dangerous

Western Wildfires are Making Far Away Storms More Dangerous

In late July of 2018, massive wildfires blazed across Northern California. At the same time in Colorado, weather alerts went out warning of heavy thunderstorms and baseball-sized hail. The two disasters were separated by a thousand miles, but scientists are now finding they’re connected.
October 24, 2022 Auto Catastrophe Property

Ian May Have Destroyed More Than 300K Vehicles

Ian May Have Destroyed More Than 300K Vehicles

Final numbers won’t be available for months, but one thing is certain: An overwhelming number of drivers in Hurricane Ian’s path will be replacing a vehicle at a time when inventories are already tight.
October 20, 2022 Auto Catastrophe Florida North Carolina South Carolina

Hurricane Ian’s Storm Surge Reached 15 Feet at Fort Myers Beach

Hurricane Ian’s Storm Surge Reached 15 Feet at Fort Myers Beach

Preliminary analysis of Hurricane Ian’s deadly storm surge suggests the Gulf of Mexico pushed as high as 15 feet above normally dry ground on Fort Myers Beach as it made landfall, the National Hurricane Center said Thursday.
October 14, 2022 Auto Catastrophe Property Florida

What to Expect When You Are Adjusting: A Primer for Hurricane Ian Property Claims

What to Expect When You Are Adjusting: A Primer for Hurricane Ian Property Claims

The last week of September, 2022, the State of Florida braced for what was categorized to be one of the worst storms to make landfall in U.S. history. Initially, all weather channels displayed the storm’s trajectory heading towards Tampa Bay.
October 12, 2022 Catastrophe Property Florida

Could Climate Change Liability Usher in a New Era of Cooperation?

Could Climate Change Liability Usher in a New Era of Cooperation?

In August, flooding immersed Pakistan as three months of monsoons, following a drought, took their toll on farmland and humanity. The previous month, Vancouver, Canada launched a lawsuit against oil producers, placing the blame for climate change on them.
October 11, 2022 Catastrophe Liability

Insurance Crisis Offers Louisiana Few Good Options

Insurance Crisis Offers Louisiana Few Good Options

The difficult 2020 and 2021 hurricane seasons are fading from memory, but it will take a long time for Louisiana to recover. It’s not just the blue roof tarps that still dot the landscape from Lake Charles to Lafourche.
October 10, 2022 Catastrophe Insurance Industry Legislation & Regulation Property Louisiana

Citizens Property Insurance Says It’s in ’Good Financial Shape’ Post-Hurricane Ian

Citizens Property Insurance Says It’s in ’Good Financial Shape’ Post-Hurricane Ian

Many feared that one big storm could cost every homeowner in Florida if the state-backed insurer of last resort, Citizens Property Insurance Corp., couldn’t afford to pay out claims from its more than a million policies.
October 10, 2022 Catastrophe Property Florida

The Positive Side to Disasters and Tragedy

The Positive Side to Disasters and Tragedy

By all accounts, we were extremely lucky. Just 24 hours before landfall, Hurricane Ian was expected to come ashore just south of Tampa Bay, putting my home in Bradenton in the projected direct path of a very significant storm.
October 10, 2022 Catastrophe Florida
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