Florida Hurricane Damage Claims Reach $4.775 Billion After Hurricanes Helene and Milton
Insurance claims in Florida from Hurricanes Helene and Milton have reached $4.775 billion, up $169 million from last week’s total. The storms have left extensive residential and commercial property damage, according to the Office of Insurance Regulation.
November 12, 2024
Catastrophe
Insurance Industry
Legislation & Regulation
Property
Florida
Georgia
North Carolina
South Carolina
Tennessee
How Attorney Ads May Drive Up Auto Insurance Rates, Per New Survey
A recent IRC survey reveals that attorney advertising may be influencing auto insurance costs, as 60% of respondents link it to higher claims and 52% believe it raises insurance premiums.
October 30, 2024
Auto
Insurance Industry
Legislation & Regulation
Litigation
Florida
Georgia
Louisiana
Texas A&M Research Links Climate Change to Increased Hurricane Rainfall in the Southeast
A Texas A&M study shows a nearly 20% increase in extreme rainfall during storms like Hurricane Helene, linking climate change to intensified flooding risks across the southeastern United States.
October 28, 2024
Catastrophe
Property
Risk Management
Florida
Georgia
North Carolina
Texas
Widespread Flooding from Hurricane Helene Spotlights Inland Insurance Gaps
The devastation from Hurricane Helene reveals a significant inland flood-protection gap, particularly in flood-prone communities without sufficient insurance coverage, where misinformation and funding challenges further slow recovery efforts.
October 28, 2024
Catastrophe
Insurance Industry
Legislation & Regulation
Risk Management
Florida
Georgia
Kentucky
New Jersey
New York
Climate Change Intensifies Hurricane Helene’s Impact on Coastal and Inland Communities
Hurricane Helene, a Category 4 storm, caused catastrophic flooding and destruction from Florida’s coast to the Southern Appalachians. Research shows climate change intensified its rainfall, winds, and flooding risks.
October 11, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Florida
Georgia
North Carolina
South Carolina
Tennessee
Hurricane Milton Could Deplete U.S. Insurers’ Catastrophe Budgets, Global Reinsurers Likely to Endure
Hurricane Milton, a Category 5 storm expected to strike Florida, threatens to deplete U.S. property/casualty insurers’ catastrophe budgets and test global reinsurers’ limits, though most are expected to weather the storm without significant capital impacts.
October 10, 2024
Catastrophe
Insurance Industry
Property
Risk Management
Florida
Georgia
North Carolina
South Carolina
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
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 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 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
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
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
Hurricane Helene Signals Emerging Inland Threat as Storms Retain Strength
Hurricane Helene’s unprecedented inland devastation highlights the growing danger of the "brown-ocean effect," a phenomenon that may allow future hurricanes to retain strength as they move further inland.
October 1, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Florida
Georgia
North Carolina
Hurricane Helene’s Economic Impact Could Reach $160 Billion Due to Infrastructure Destruction and Business Losses
Economic estimates for Hurricane Helene project up to $160 billion in damage, driven by widespread infrastructure failure, property loss, business disruption, and long-term recovery costs.
September 30, 2024
Catastrophe
Insurance Industry
Property
Risk Management
Florida
Georgia
Kentucky
North Carolina
Ohio
Helene Hits Florida as Category 4 Hurricane, Unveils Critical Flood Insurance Gap
Hurricane Helene’s catastrophic flooding from Florida to North Carolina exposes the serious lack of flood insurance coverage among homeowners, especially in inland areas, highlighting the increasing risks from extreme weather events.
September 30, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Florida
Georgia
Kentucky
North Carolina
South Carolina
