Hurricane Florence is still hundreds of miles off the U.S. East Coast, but insurers are starting to see their potential costs from one type of claim mount as companies halt operations to let employees flee.
U.S. insurers are bracing for what could be $20 billion in losses as Hurricane Florence barrels toward the Carolinas and Virginia, bringing punishing rains and potentially deadly flooding.
As Hurricane Florence bears down on the southeastern United States, nearly 759,000 homes are in the storm’s path, and a worst-case rebuilding scenario could cost more than $170 billion, according to an estimate from real estate data provider CoreLogic.
As Hurricane Florence churned toward an eventual Eastern Seaboard landfall, evacuations were imposed for parts of three East Coast states Tuesday and millions of Americans prepared for what could become one of the most catastrophic hurricanes to hit the region in decades.
More than 1.5 million people were ordered to evacuate their homes along the U.S. Atlantic coast as Hurricane Florence, a Category 4 storm and the most powerful to menace the Carolinas in nearly three decades, barreled in on Tuesday.
Hurricane Florence has its sights set on North and South Carolina, and if it hits as hard as predicted, the storm will be the most powerful to pound the area in three decades, CNN weather anchor Chad Myers said Monday morning.
Authorities said Tuesday that a woman and a 9-year-old child staying at a Nash County motel were killed Monday when they were shocked by an air conditioner in the room, authorities and family members said.
Insurtech company REIN has launched DroneInsurance.com, with underwriting by Liberty Specialty Markets, providing usage-based insurance for commercial drone operators and simplifying the process of obtaining both base and liability coverage.
As summer approaches along the Gulf and Atlantic coasts, residents prepare for the hurricane season ahead. The Atlantic hurricane season — June through November (though known to start as early as January in past years) — has devastated communities from Texas to New England, resulting in significant recovery costs.
With so many businesses and individuals affected by Hurricanes including Maria, Harvey and Irma in 2017, risk managers and insurers are looking to revised forecasts of this year’s hurricane season for a glimmer of hope that 2018 will not bring the same destruction.
For the first time, the National Transportation Safety Board is recommending all new school buses be equipped with lap and shoulder seat belts, after the agency released findings from a special investigation report prompted by two deadly 2016 crashes.
At its core, the industry is plagued by an inherent conflict of interest. Our customers don’t have an industry expert advocating solely on their behalf; the experts have financial incentives coming from the insurance industry.
