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Waffle House Index Signals Severe Impact from Hurricane Milton in Florida

Waffle House Index Signals Severe Impact from Hurricane Milton in Florida

The Waffle House Index, a quirky yet reliable gauge of storm severity, shows widespread closures across Florida as Hurricane Milton approaches, warning of significant damage and disruption.
October 9, 2024 Catastrophe Property Risk Management Technology Florida Georgia North Carolina South Carolina

Florida Urges EV Owners to Prepare for Fire Hazards as Hurricane Milton Approaches

Florida Urges EV Owners to Prepare for Fire Hazards as Hurricane Milton Approaches

Florida officials are cautioning residents about the potential fire hazards posed by lithium-ion batteries in EVs and other devices, urging proactive steps to prevent accidents as Hurricane Milton approaches.
October 9, 2024 Auto Catastrophe Property Risk Management Technology Florida

Florida Court Rules Unlicensed Contractors Can Still Enforce Condo Contracts

Florida Court Rules Unlicensed Contractors Can Still Enforce Condo Contracts

A Florida appeals court decision could reshape insurance defense strategies, ruling that being unlicensed doesn’t automatically void a storm-remediation contract, depending on the work’s scope.
October 9, 2024 Catastrophe Legislation & Regulation Litigation Property Florida

Federal Flood Maps Lag Behind Climate Disasters, Leaving Millions at Risk

Federal Flood Maps Lag Behind Climate Disasters, Leaving Millions at Risk

As climate-intensified storms expose the limitations of FEMA’s outdated flood maps, millions of Americans may face flood risks without adequate insurance protection, especially in areas prone to heavy rainfall.
October 9, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida Georgia North Carolina South Carolina

Hurricane Milton Insurance Loss Projections Range from $15B to $150B, Says Icosa Investments

Hurricane Milton Insurance Loss Projections Range from $15B to $150B, Says Icosa Investments

Icosa Investments forecasts insurance losses from Hurricane Milton could span from $15 billion to over $150 billion, depending on the storm’s intensity and landfall, with significant implications for the cat bond market.
October 9, 2024 Catastrophe Insurance Industry Property Risk Management Florida

Hurricane Milton Threatens Central Florida with Potential Direct Hit

Hurricane Milton Threatens Central Florida with Potential Direct Hit

Hurricane Milton, set to make landfall as a Category 3 storm, could bring catastrophic impacts to Florida’s Gulf Coast, particularly the Tampa area, just two weeks after Hurricane Helene’s devastation.
October 9, 2024 Catastrophe Insurance Industry Property Risk Management Florida Georgia North Carolina South Carolina

Hurricane Milton Reaches Category 5 as Florida Orders Evacuations

Hurricane Milton Reaches Category 5 as Florida Orders Evacuations

Hurricane Milton intensifies to Category 5 as it heads toward Florida’s west coast, prompting evacuations while the state rushes to clear debris left by Hurricane Helene just two weeks ago.
October 7, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida

Hurricane Milton Strengthens to Category 4, Poised for Midweek Florida Landfall

Hurricane Milton Strengthens to Category 4, Poised for Midweek Florida Landfall

Hurricane Milton, now a powerful Category 4 storm, is set to make landfall midweek in Florida, bringing life-threatening storm surges, heavy rain, and strong winds.
October 7, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida Georgia North Carolina South Carolina

Reinsurance Brokers Caution of Hurricane Milton’s Potential Impact on Florida

Reinsurance Brokers Caution of Hurricane Milton’s Potential Impact on Florida

Hurricane Milton is expected to intensify as it heads toward Florida. Reinsurance brokers are warning of potential significant impacts, including storm surges and wind damage.
October 7, 2024 Catastrophe Insurance Industry Property Risk Management Florida

Hurricane Milton Intensifies as It Heads for Florida, Threatening Tampa Bay and Orlando

Hurricane Milton Intensifies as It Heads for Florida, Threatening Tampa Bay and Orlando

Hurricane Milton has become a Category 3 storm and is expected to reach Category 4 as it nears Florida, prompting storm surge warnings for Tampa Bay and potential evacuations across the region.
October 7, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida

Flood Insurance Program Struggles with Rising Repeat Payouts

Flood Insurance Program Struggles with Rising Repeat Payouts

As flood risk intensifies, the National Flood Insurance Program is issuing more repeat payouts, with severe repetitive loss properties surging across the U.S., especially in coastal areas vulnerable to storms.
October 7, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida Louisiana New Jersey North Carolina

Hurricane Helene Losses Projected in Billions, But US P&C Insurers Expected to Withstand Impact

Hurricane Helene Losses Projected in Billions, But US P&C Insurers Expected to Withstand Impact

Hurricane Helene’s estimated insured losses range between $5 billion and $9 billion, but S&P Global believes the event will affect earnings without jeopardizing the capital of US property and casualty insurers.
October 4, 2024 Catastrophe Insurance Industry Property Risk Management Florida North Carolina South Carolina

FEMA Faces Funding Shortage as Hurricane Helene Devastates the Southeast

FEMA Faces Funding Shortage as Hurricane Helene Devastates the Southeast

FEMA is running low on disaster relief funds as it responds to Hurricane Helene, which caused severe damage across several Southeastern states. Congress may need to pass additional funding to sustain relief efforts.
October 4, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida Georgia Louisiana North Carolina South Carolina

Dockworkers Reach Tentative Deal, Strike Suspended Until January

Dockworkers Reach Tentative Deal, Strike Suspended Until January

U.S. dockworkers have suspended their strike after reaching a tentative agreement with terminal operators, securing a wage increase and agreeing to continue negotiations in January.
October 4, 2024 Legislation & Regulation Litigation Risk Management Alabama Florida Georgia Louisiana Maryland

Solar Energy Growth Sparks Surge in Construction Claims

Solar Energy Growth Sparks Surge in Construction Claims

The rapid growth of solar energy is driving an increase in construction-defect claims, as industry experts highlight risks such as fire, environmental concerns, and insurance coverage issues.
October 4, 2024 Insurance Industry Legislation & Regulation Property Risk Management Arizona California Colorado Florida Texas
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