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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

Global Flood Risk Study Highlights Population Growth in Flood-Prone Areas

Global Flood Risk Study Highlights Population Growth in Flood-Prone Areas

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.
October 7, 2024 Catastrophe Legislation & Regulation Property Risk Management

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

State Farm Supports 100 Volunteer Fire Departments with $1 Million in Grants

State Farm Supports 100 Volunteer Fire Departments with $1 Million in Grants

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.
October 7, 2024 Catastrophe Insurance Industry Property Risk Management

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

Tennessee Officials Warn of Post-Storm Contractor Scams

Tennessee Officials Warn of Post-Storm Contractor Scams

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.
October 4, 2024 Catastrophe Fraud Insurance Industry Property Tennessee

How Google and Tesla Could Transform California’s Home Insurance Market

How Google and Tesla Could Transform California’s Home Insurance Market

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.
October 4, 2024 Insurance Industry Property Risk Management Technology California

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

Atlantic Hurricane Activity Predicted to Surge Through Mid-October 2024

Atlantic Hurricane Activity Predicted to Surge Through Mid-October 2024

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.
October 4, 2024 Catastrophe Insurance Industry Property Risk Management

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

Florida Insurers Face Fraud Allegations as New Storm Claims Loom, CBS Highlights Adjusters’ Concerns

Florida Insurers Face Fraud Allegations as New Storm Claims Loom, CBS Highlights Adjusters’ Concerns

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.
October 1, 2024 Catastrophe Fraud Litigation Property Florida

Carolina Residents and Agents Shocked by Inland Damage from Hurricane Helene

Carolina Residents and Agents Shocked by Inland Damage from Hurricane Helene

Insurance agents in Asheville, North Carolina, report unprecedented inland damage from Hurricane Helene, with widespread flooding, fallen trees, and road closures hampering recovery efforts.
October 1, 2024 Catastrophe Insurance Industry Property Risk Management North Carolina Tennessee

Hurricane Helene Signals Emerging Inland Threat as Storms Retain Strength

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
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