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Massive Rainfall Causes Millions in Damages in New York, Northeast

Massive Rainfall Causes Millions in Damages in New York, Northeast

As many as 14 million people in the Northeast and New England were still under flood alerts this morning after a summer’s worth of rain fell in parts of New York, forecasters said.
July 10, 2023 Auto Property New York Pennsylvania Vermont

Los Angeles County Homes Slowly Destroyed by Landslide

Los Angeles County Homes Slowly Destroyed by Landslide

A terrifying incident unfolded in Los Angeles County over the weekend as a major landslide caused the foundations of a dozen homes to shift, endangering the lives of residents and leaving the houses on the brink of collapse.
July 10, 2023 Property California

Property Cat Loss Hit Rates in Florida Up 30-40% in Mid-year Renewal

Property Cat Loss Hit Rates in Florida Up 30-40% in Mid-year Renewal

Global reinsurance broker Gallagher Re released its latest 1st View renewals report, which highlights the trends and dynamics at the July 1 reinsurance renewals.
July 7, 2023 Catastrophe Property

Group Captive Insurance Programs Tackle High Insurance Costs

Group Captive Insurance Programs Tackle High Insurance Costs

One of the largest development firms in New Orleans, whose high-profile projects have included the $530 million Four Seasons Hotel at the foot of Canal Street, has faced some serious "sticker shock" when it comes to its insurance premiums in the last couple years.
July 6, 2023 Liability Property

Flood Insurance Disparities: Lessons from Florida and Kentucky

Flood Insurance Disparities: Lessons from Florida and Kentucky

Two of the worst U.S. floods in 2022 ravaged homes, destroyed businesses and forced residents to evacuate for weeks. But homeowners in Florida and Kentucky are getting wildly different payments from a federal flood insurance program crucial to rebuilding and recovery.
July 5, 2023 Catastrophe Property Florida Kentucky

Rate Increases and Market Exits in the U.S. Insurance Industry

Rate Increases and Market Exits in the U.S. Insurance Industry

U.S. property/casualty insurers are responding to higher inflation and natural catastrophe losses with rate increases when possible and exits when not, Swiss Re Ltd. said Wednesday in a report.
July 5, 2023 Auto Insurance Industry Property

Community Solar Project in Nebraska Offline After Major Hailstorm Damage

Community Solar Project in Nebraska Offline After Major Hailstorm Damage

A recent extreme weather event in the Great Plains has rendered a large solar farm in Scottsbluff, Nebraska inoperable. Last week a tornado and a powerful storm accompanied by baseball-sized hail struck the region, causing extensive damage.
June 30, 2023 Property Nebraska

Climate Crisis and Flood Vulnerability: Federal Analysis Fails to Reflect Actual Risk

Climate Crisis and Flood Vulnerability: Federal Analysis Fails to Reflect Actual Risk

A recent analysis reveals that the federal assessment of extreme rainfall is significantly underestimating the likelihood of flood events, raising concerns about infrastructure development, flood insurance costs, and public safety.
June 29, 2023 Catastrophe Property

Evidentiary Issues with Google Earth Images in Property Claims

Evidentiary Issues with Google Earth Images in Property Claims

In recent years, the use of Google Earth’s satellite imagery has become an increasingly common method for locating or viewing specific addresses. Google Earth uses high-resolution cameras to obtain satellite images, which gives users a bird’s eye view of nearly any location in the world.
June 28, 2023 Litigation Property

Hail Losses: June Storms Leave Massive Insured Damages

Hail Losses: June Storms Leave Massive Insured Damages

Severe thunderstorm activity from June 11-15 caused $7 billion to $10 billion in insured losses, according to a report Monday from data and analytics company CoreLogic Inc. This loss estimate includes damage to residential, commercial, and industrial property, as well as automobiles, but excludes damage to infrastructure such as roads, utilities and governmental facilities.
June 28, 2023 Auto Property Arkansas Oklahoma Texas

How to Prepare for Hail Season

How to Prepare for Hail Season

With the weather heating up, severe hailstorms abound. For insurance claims adjusters, this means preparing for an influx of claims. 6.2 million properties in the U.S. experienced one or more damaging hail events in 2020, with Texas, Nebraska and Minnesota the top three states, making these warm months a very busy time in the entire middle U.S.

To handle the high volume of claims effectively, adjusters need to be well-prepared and have the necessary tools and resources at their disposal. Here are a few tips to support the claims process during one of the busiest insurance seasons of the year.
June 27, 2023 Insurance Industry Property

California Appeals Court Overturns Denial of COVID-19 Insurance Claim

California Appeals Court Overturns Denial of COVID-19 Insurance Claim

Citing a communicable disease coverage extension, a California state appeals court overturned a lower court Thursday and ruled that a restaurant group was entitled to insurance coverage from an Allianz SE unit for its COVID-19-related business interruption losses.
June 26, 2023 Litigation Property California

LIGA and Unpaid Claims: Accountability Concerns Mount for Homeowners in South Louisiana

LIGA and Unpaid Claims: Accountability Concerns Mount for Homeowners in South Louisiana

South Louisiana homeowners are increasingly seeking compensation from the Louisiana Insurance Guaranty Association (LIGA) after a series of financial difficulties led a dozen insurers to enter receivership over the past 18 months. With approximately 40,000 unsettled claims left in their wake, homeowners are eager for resolution and payment.
June 26, 2023 Litigation Property Louisiana

Insights from the Insurance Litigation Report: Louisiana’s Western District Tops the List

Insights from the Insurance Litigation Report: Louisiana’s Western District Tops the List

From 2020 through 2022, the highest number of insurance cases in the U.S. were filed in the Western District of Louisiana, according to a new report from LexisNexis company Lex Machina.
June 23, 2023 Liability Litigation Property Louisiana

Tornado Leaves Catastrophic Damage in Matador, Texas

Tornado Leaves Catastrophic Damage in Matador, Texas

Texas Gov. Greg Abbott updated the state’s disaster declaration on Thursday to include six additional counties on Thursday following deadly severe weather on Wednesday evening, bringing the total tally covered by the declaration to 21 counties.
June 23, 2023 Property Texas
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