Most of Ontario is under a severe weather warning Tuesday, once again threatening flood damage in a province where insurers have already paid approximately $800 million for natural catastrophe damages.
For millions of Americans, this summer has been marked by climate-related risks. USA Today reported in July that 40 million people from Washington to Arizona were facing an excessive heat warning while in the Eastern US, around 32 million people were under a flood watch during the same period.
An Aug. 6 storm that battered southwest Colorado Springs and Fountain with up to softball-size hail caused $172.8 million in damage to vehicles, roofs, siding, windows, skylights and other parts of homes, an insurance trade group said Wednesday.
Rate increases began to bolster the bottom line for reinsurers during the first half of 2018, and insurers saw added income from higher interest rates and a growing U.S. economy, say analysts surveying the sector’s second-quarter results.
Nothing was typical about the way the Carr Fire tore into the city of Redding, California on July 27. Photos released by the city late last week show an aerial perspective of the devastation caused when it launched its deadly assault on the community of about 100,000.
Residents of U.S. towns damaged by wildfires may need to prepare for another repercussion: insurers that decide to cancel policies because of increased risks from more frequent fires.
The prospect of a hurricane tearing up the East Coast through Long Island and Connecticut, hitting Cape Cod and heading up to Maine “is an event that keeps insurance people awake at night,” according to Robert DeSaulniers, a flood insurance specialist for the Federal Emergency Management Agency’s northeast region.
The 2018 hurricane season in the Atlantic Ocean and Gulf of Mexico began June 1, and as many Americans are still repairing the damage from last year’s devastating storms, hurricane preparedness and catastrophic events are squarely in focus.
Roger Gray has lived in his suburban subdivision in a quiet California city for 30 years. On Thursday, it was struck by a jaw-dropping geophysical phenomenon.
Little more than two months before Hurricane Harvey slammed the Gulf Coast of Texas, Alberto Castañeda let his home’s flood insurance lapse. He had never filed a claim on the policy in 10 years and he needed the extra cash to expand his restaurant business.
Insurance drone use has been taking off — so to speak — with each new hurricane season. This year has been no exception. Every year, the tech proves itself in terms of improved safety for claims adjusters while simultaneously lowering costs.
I think it’s time to retire Maria as a name for any storm. The name has been wiped from the hurricane list in the Atlantic after Hurricane Maria completely upended life in the Caribbean. But it’s still on the rolls in the Pacific, where Typhoon Maria is about to make life miserable.
Drones are no longer just cameras in the sky. They’re autonomous, artificially intelligent flying machines with the ability to capture sharp resolution of an asset and use machine learning to process data through analytical models. But all of that potential is constantly challenged by regulation.
Florida Property & Casualty Association, an association of Florida-based home insurers, is disputing claims made by Weiss Ratings, including that, "Many Florida homeowners are still waiting for their insurance claims to come through after a severe hurricane season last year."
