High winds contributed in part to most catastrophes in Canada over the past few decades, prompting the need for a new national standard on wind resilience, the Institute for Catastrophic Loss Reduction (ICLR) said Thursday.
Here’s reality — many if not most of us will face great challenges. Some may parallel experiences we’ve seen before, just with greater or lesser intensity.
Record floods that submerged parts of the Midwest as a result of a deadly combination of melting snow and heavy rains have caused $3 billion in damages so far, and more flooding is in the forecast, according to news reports. This recent natural catastrophe is once again sending warning signals about the intensifying weather-related events that are likely to continue impacting the US in the years to come, including regions that typically haven’t seen wild weather in the past.
In 2018, natural catastrophes wreaked havoc around the world. Windstorms caused massive losses in the United States, Japan and the Philippines. Droughts hit the United States and Europe, and unusually large wildfires caused devastation in California.
Californians have filed a lawsuit against the state Department of Insurance for allegedly allowing unlicensed out-of-state insurance adjusters to offer their services after major wildfire events.
The largest reinsurance company in the world has cautioned that most people won’t afford coverage soon. For several years, insurance companies have been warning that the impact of climate change will be an expensive one.
The U.S. Federal Emergency Management Agency (FEMA) exposed 2.3 million disaster survivors to possible identity theft and fraud by improperly sharing sensitive personal information with an outside company, according to an internal government watchdog.
Climate change played a hand in the deadly floods in the U.S. upper Midwest that have damaged crops and drowned livestock, scientists said on Thursday, while a Trump administration official said more homework was needed before making that link.
The private sector is returning to the risky world of insuring homes against flood damage, offering hope that the paltry percentage of homeowners with flood insurance will rise out of the single digits.
QBE is taking a stand. It is loudly and proudly talking about the dangers of climate change and what needs to be done to stop it—including putting its own money on the line.
Pacific Gas & Electric Co. said Thursday that it was “probable” that its equipment caused the Camp fire that destroyed thousands of homes in Paradise, Calif., and killed 85 people in 2018.
Historically, the insurance claims process for property damage starts with a claims professional assessing damage on-site and ends by giving a homeowner a check for fixing the damage. This old model places the responsibility on the property owner to research and vet qualified contractors to start the restoration process, a particularly heavy burden to bear in moments of crisis.
