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.
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.
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.
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.
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.
A comprehensive analysis shows that over 2.7 billion people globally are exposed to flood risks from both inland and coastal sources, with the number expected to rise as populations grow in vulnerable regions.
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.
State Farm, in partnership with the National Volunteer Fire Council, has awarded $1 million in grants to 100 volunteer fire departments to enhance firefighter safety and community protection.
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.
Tennessee ranks 16th in fraud, and state officials are urging residents impacted by Hurricane Helene to beware of contractor scams, advising them to verify contractor credentials and insurance.
Tech giants like Google and Tesla are exploring California’s homeowners insurance market, leveraging AI and big data to offer innovative, risk-adjusted policies that could reshape the industry and challenge traditional insurers like State Farm.
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.
Colorado State University forecasters predict above-normal hurricane activity from October 1-14, 2024, with an extremely high likelihood of major storms in the Atlantic and Caribbean regions.
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.
As Florida prepares for new storm-related claims, CBS News’ "60 Minutes" investigates allegations by adjusters that insurers manipulated damage estimates from Hurricane Ian to underpay policyholders.