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Missouri Jury Awards $27.4 Million in 2018 Birmingham Apartment Fire Case

Missouri Jury Awards $27.4 Million in 2018 Birmingham Apartment Fire Case

A Missouri jury awarded $27.4 million in a trial last week stemming from a 2018 Birmingham apartment fire. The jury found in favor of Maxus Metropolitan, which managed the Metropolitan Apartments in Birmingham.
August 14, 2023 Litigation Property Missouri

Five Lives Lost in Pennsylvania Explosion, Homes Destroyed

Five Lives Lost in Pennsylvania Explosion, Homes Destroyed

An explosion in a Pennsylvania neighborhood has left five people dead and three others injured, with three homes destroyed and a dozen more damaged by the blast.
August 14, 2023 Property Pennsylvania

Billions Worth of Insured Losses from Maui Wildfires

Billions Worth of Insured Losses from Maui Wildfires

Data released by the Pacific Disaster Center and the Federal Emergency Management Agency (FEMA) has painted a harrowing picture of the aftermath of the Lahaina wildfire. As of August 11th, a staggering 2,207 structures have fallen victim to the relentless blaze.
August 14, 2023 Catastrophe Property Hawaii

1,700+ Buildings Razed by Maui Wildfire

1,700+ Buildings Razed by Maui Wildfire

The wildfire outbreaks in Hawaii have reportedly destroyed 1,700+ buildings thus far, indicating a potential extensive loss for the re/insurance industry, while the death toll has risen to 55, with as many as 1,000 people missing.
August 11, 2023 Catastrophe Property Hawaii

Catastrophic Damage, 36 Deaths On Maui as Wildfire Burns Uncontrolled

Catastrophic Damage, 36 Deaths On Maui as Wildfire Burns Uncontrolled

President Joe Biden has approved a disaster declaration for Hawaii and ‘ordered federal aid to supplement state and local recovery efforts in the areas affected by wildfires,’ according to the White House.
August 10, 2023 Auto Catastrophe Property Hawaii

Wildfires Rage in Hawaii, Wind-driven by Hurricane Dora

Wildfires Rage in Hawaii, Wind-driven by Hurricane Dora

Ferocious wildfires, fueled by relentless winds and bone-dry conditions, have turned Hawaii’s tranquil landscapes in Maui and the Big Island into an apocalyptic scene. Many homes and businesses have been destroyed in the historic area of Lahaina, Maui.
August 9, 2023 Property Hawaii

The Saga of Suspended Law Firm MMA and Missing Insurance Payouts Continues

The Saga of Suspended Law Firm MMA and Missing Insurance Payouts Continues

When Hurricane Laura hit Lake Charles in August 2020, Aaron Sonnier’s roof was badly damaged. He was lucky: his insurance company quickly paid for repairs. But when he started noticing more damage to the house in the following months, things got messy.
August 9, 2023 Fraud Litigation Property Louisiana

Inflation Hits Home

Inflation Hits Home

Over the past few years, inflationary pressures have made a notable impact on the economy -- and on home insurance premiums. According to CoreLogic’s U.S. National Building Cost Trends report for Q2’23, building material costs for carpet, insulation, brick and concrete have continued to rise, increasing overall residential reconstruction costs by an average of 1.9% from February to May 2023 nationwide.
August 8, 2023 Property

California Needs to Make Changes to Address Its Climate Risk Crisis

California Needs to Make Changes to Address Its Climate Risk Crisis

California’s insurance challenges have roots going back decades. Yet they’ve come to the fore in the past five years, during which the five largest wildfires in the state’s history have occurred, according to Cal Fire.
August 7, 2023 Legislation & Regulation Property California

Record Glacial Flooding Hits Juneau, Alaska

Record Glacial Flooding Hits Juneau, Alaska

Unprecedented glacial flooding over the weekend swept away two homes and severely damaged others in Alaska’s capital city, officials said Sunday. No injuries have been reported, but floodwaters took part of a third home and caused ‘significant undermining’ damage to a condominium building, said Juneau Deputy City Manager Robert Barr.
August 7, 2023 Property Alaska

California’s Changing Coastline and the Role of Climate Change

California’s Changing Coastline and the Role of Climate Change

Waves are getting bigger and surf at least 13 feet (about 4 meters) tall is becoming more common off California’s coast as the planet warms, according to innovative new research that tracked the increasing height from historical data gathered over the past 90 years.
August 3, 2023 Property California

Why Every Company Should Have a Parametric Policy

Why Every Company Should Have a Parametric Policy

According to the World Bank, the earthquake that shook Turkey back in February caused direct physical damage worth $34 billion. The Turkish Enterprise and Business Confederation, however, estimates the quake’s total economic impact will reach roughly $84.1 billion, including loss of productivity and national income.
August 2, 2023 Catastrophe Property

 Florida’s Recent Laws Address Home Insurance Affordability

Florida’s Recent Laws Address Home Insurance Affordability

Skyrocketing home insurance rates in Florida have become a massive problem for many property owners in the state who are struggling to be able to find coverage they can afford. The state has been teetering on the edge of crisis, and the situation is continuing to worsen recently.
August 2, 2023 Insurance Industry Legislation & Regulation Property Florida

Arkansas Homeowner Wins $1.16M Settlement for Tornado Damage Claim

Arkansas Homeowner Wins $1.16M Settlement for Tornado Damage Claim

A Cross County woman whose home was destroyed by an EF3 tornado packing winds of 150 mph that swept through Wynne on March 31 has settled a lawsuit with her insurer for more than $1 million after she accused the company of offering her more than $200,000 less than her home was insured for following the storm.
July 31, 2023 Litigation Property Arkansas

Vermonters Denied FEMA Assistance Due to Flood Insurance Lapses

Vermonters Denied FEMA Assistance Due to Flood Insurance Lapses

Even as FEMA is working to dole out millions of dollars in grants to Vermonters hit by flooding in eight designated counties, some who received money following previous flooding -- but did not comply with subsequent insurance requirements -- are now learning they are not eligible.
July 31, 2023 Legislation & Regulation Property Vermont
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