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Florida Cat Fund May See Increased Bond Issuance Amid Active 2024 Hurricane Season

Florida Cat Fund May See Increased Bond Issuance Amid Active 2024 Hurricane Season

Florida’s 2024 hurricane season, expected to be highly active, may lead to additional bond issuance for the Florida Hurricane Catastrophe Fund (FHCF) while Citizens Property Insurance Corporation is less likely to require new debt.
August 1, 2024 Catastrophe Insurance Industry Litigation Property Florida

NOAA Proposes $575 Million for Coastal Climate Resilience

NOAA Proposes $575 Million for Coastal Climate Resilience

NOAA recommends $575 million in funding for 19 projects to enhance coastal climate resilience under the Investing in America agenda.
July 31, 2024 Catastrophe Legislation & Regulation Property Risk Management Alaska California Delaware Hawaii Louisiana

Gulf Coast Residents Urged to Monitor Developing Tropical Wave

Gulf Coast Residents Urged to Monitor Developing Tropical Wave

Meteorologists caution Gulf Coast residents about a potential tropical cyclone forming in the Atlantic as the 2024 hurricane season intensifies.
July 30, 2024 Catastrophe Insurance Industry Property Risk Management Florida

Man Faces Charges in Houston Roofing Fraud Case

Man Faces Charges in Houston Roofing Fraud Case

A Galveston County, Texas man is charged with felony criminal mischief for allegedly damaging a roof to file a fraudulent storm damage insurance claim, authorities report.
July 30, 2024 Fraud Insurance Industry Litigation Property Texas

California’s Park Fire Among Largest in State History, Consuming Nearly Half the Size of Rhode Island

California’s Park Fire Among Largest in State History, Consuming Nearly Half the Size of Rhode Island

The Park Fire in Northern California has grown to over 383,000 acres, making it the fifth-largest wildfire in state history, affecting four counties and threatening thousands of structures.
July 30, 2024 Catastrophe Insurance Industry Litigation Property California

Climate Crisis: Extreme Weather Becomes the Norm in Europe, 2023

Climate Crisis: Extreme Weather Becomes the Norm in Europe, 2023

In 2023, Europe faced unprecedented extreme weather events, including heatwaves, droughts, storms, and floods, highlighting the urgent need for insurers to adapt and develop robust climate risk management strategies.
July 30, 2024 Catastrophe Legislation & Regulation Property Risk Management

Adjuster Cautionary Tale: Courtroom Embarrassment Over Chat Message

Adjuster Cautionary Tale: Courtroom Embarrassment Over Chat Message

A recent post on Reddit’s adjusters subreddit shared a cautionary tale about the risks of casual, off-the-cuff remarks in professional communications. In this instance, a fire claim involving a homeowner’s pet parrot escalated to the courtroom, where an unfortunate message by an adjuster was read aloud, much to his embarrassment.
July 29, 2024 Litigation Property Risk Management Technology

Maryland Woman Faces Charges for Alleged $180K Insurance Fraud

Maryland Woman Faces Charges for Alleged $180K Insurance Fraud

A Maryland woman is accused of filing fraudulent insurance claims worth over $180,000, using false damage photos and documents in her submissions to USAA.
July 29, 2024 Fraud Insurance Industry Litigation Property Maryland

Homeowners Face 21% Insurance Premium Increase, Climate Change Cited as Major Factor

Homeowners Face 21% Insurance Premium Increase, Climate Change Cited as Major Factor

Homeowners insurance premiums surged by 21% from May 2022 to May 2023, largely due to severe weather events driven by climate change, leaving many homeowners with limited options.
July 29, 2024 Catastrophe Insurance Industry Legislation & Regulation Property California Colorado Florida Idaho Louisiana

Berkshire Hathaway Insurer and Cannabis Company Clash Over $1.3 Million Claim

Berkshire Hathaway Insurer and Cannabis Company Clash Over $1.3 Million Claim

National Fire and Marine Insurance Co. denies coverage for Theraplant’s $1.3 million business income loss claim, citing policy exclusions and differing interpretations of coverage terms.
July 29, 2024 Insurance Industry Litigation Property Risk Management Connecticut

Bears Wreak Havoc Inside Connecticut Car

Bears Wreak Havoc Inside Connecticut Car

Two bears trapped inside a car in Winsted, Connecticut caused significant damage before being safely released, highlighting the growing black bear population in the state.
July 29, 2024 Catastrophe Property Risk Management Weird Connecticut

Florida Woman’s Concrete Blockade Floods Entire Neighborhood, Ignites Fierce Community Backlash

Florida Woman’s Concrete Blockade Floods Entire Neighborhood, Ignites Fierce Community Backlash

A Florida neighborhood is experiencing severe flooding after a resident poured concrete into a crucial drainpipe on her property, prompting county intervention and ongoing disputes with the HOA.
July 26, 2024 Legislation & Regulation Litigation Property Risk Management Florida

Severe Weather Events in Nova Scotia Lead to $490 Million in Insured Losses

Severe Weather Events in Nova Scotia Lead to $490 Million in Insured Losses

The wildfires and flooding in Nova Scotia last year resulted in $490 million in insured losses, according to a recent report by the Insurance Bureau of Canada.
July 25, 2024 Catastrophe Insurance Industry Property Risk Management

Premium Renewal Rates Increase Across Major Commercial Lines Except Workers’ Compensation

Premium Renewal Rates Increase Across Major Commercial Lines Except Workers’ Compensation

The Q2 2024 Ivans Index reveals an overall increase in premium renewal rates for major commercial insurance lines, with Workers’ Compensation as the exception, showing a year-over-year decrease.
July 25, 2024 Auto Insurance Industry Property Workers' Compensation Mississippi Nebraska New York Texas Wisconsin

Wienermobile Rolls Over on Tri-State Tollway, No Injuries Reported

Wienermobile Rolls Over on Tri-State Tollway, No Injuries Reported

The Oscar Mayer Wienermobile was involved in a rollover crash on the Tri-State Tollway near Oak Brook, Illinois, resulting in no injuries. The accident caused a lane closure but all involved are safe.
July 25, 2024 Auto Insurance Industry Property Risk Management Weird Illinois
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