
A New Approach to Property Resilience
The history of the standards we use for how we build structures -- homes, apartments and commercial and manufacturing buildings -- has largely to do with regional authorities determining what criteria they need to meet to keep the occupants of the building safe.
May 19, 2023
Property
Risk Management

Ice Jam Flooding Ravages Two Alaska Communities; Homes Lost, State of Emergency Declared
Severe flooding caused by historic ice jams along the Yukon and Kuskokwim rivers has resulted in significant destruction of homes and infrastructure in two communities in Alaska.
May 19, 2023
Property
Alaska

Colorado Governor Signs Bill Enacting Statewide Wildfire-Resistant Building Code
Colorado Gov. Jared Polis signed into law Friday a bill that mandates a statewide wildfire-resistant building code, a step that scientists say will help protect residents and first responders as climate change intensifies blazes.
May 17, 2023
Legislation & Regulation
Property
Colorado

Transparency and Consumer Safeguards: Public Adjuster Reform Gains Momentum in Indiana, Illinois
Indiana and Illinois have recently joined the growing number of states enacting legislation aimed at reforming public adjuster practices. These measures are designed to enhance consumer protection, increase transparency, and regulate the activities of public adjusters within the insurance industry.
May 16, 2023
Insurance Industry
Legislation & Regulation
Property
Illinois
Indiana

Insurance Companies Would Set Their Own Rates Under Bill Approved by Louisiana House
The Louisiana House approved a bill Thursday that would let insurance firms set their own rates without approval from the state’s insurance commissioner -- one of several controversial insurance proposals on deck as lawmakers try to mend the state’s fractured marketplace.
May 15, 2023
Legislation & Regulation
Property
Louisiana

Texas Community Shattered by Deadly Tornado
A powerful tornado ripped through the unincorporated community of Laguna Heights near the southern tip of Texas, claiming the life of one person and causing significant damage to residences in its path. The tornado struck before dawn on Saturday, catching residents off guard and leaving a trail of destruction in its wake.
May 15, 2023
Property
Texas

Congress Deliberates Proposed Adjustments To NFIP
The National Flood Insurance Program may undergo significant transformations as Congress deliberates 17 proposed changes, aiming to enhance the program’s effectiveness and affordability, particularly for low-income homeowners.
May 12, 2023
Catastrophe
Legislation & Regulation
Property

NFIP Flood Claims For Hurricane Ian Approaching $4B, Average Payment Over $104K
As of May 2, 2023, FEMA reported that National Flood Insurance Program (NFIP) claims related to Hurricane Ian total $3.9B. Out of the roughly 48,000 claims in Florida and the Carolinas, around 95% have been closed, according to the agency.
May 9, 2023
Property
Florida
North Carolina
South Carolina

U.S. Coastal Residents Will Benefit From NOAA’s Improved Storm Surge Model
The National Oceanic and Atmospheric Administration (NOAA) has announced that it has upgraded its Probabilistic Storm Surge model to version 3.0, which will significantly enhance the ability to predict the storm surge of some of the world’s worst tropical cyclones.
May 8, 2023
Catastrophe
Property

A Desperate Need: Reforming Flood Insurance
The Federal Emergency Management Administration (FEMA) has proposed 17 changes to the National Flood Insurance Program (NFIP), aimed at boosting the program’s finances and effectiveness.
May 5, 2023
Legislation & Regulation
Property

Insurer Accountability Bill Passes Senate, Moves To Florida Governor’s Desk
Succeeding a series of new laws aimed at reducing insurance litigation, Florida lawmakers have unanimously approved a bill that will increase fines and oversight for property insurance companies.
May 5, 2023
Legislation & Regulation
Property
Florida

Rising Sea Level Threatens Hazardous Industrial Sites In California
New research has revealed that hundreds of industrial sites along the California coastline, such as oil and gas refineries and sewage-treatment plants, could be severely affected by flooding from rising sea levels, in the event of worsening climate change.
May 4, 2023
Catastrophe
Liability
Property
California

Insurance Fraud Scheme Costs Law Firm, Partners $2M
Louisiana’s Insurance Commissioner has imposed a fine of $2 million on Texas law firm McLenny Moseley & Associates (MMA) and its associated partners for hurricane-related insurance fraud.
May 4, 2023
Fraud
Legislation & Regulation
Litigation
Property
Louisiana
Texas

Florida And Louisiana State-Owned Insurers Must Borrow Millions To Pay Claims
The Gulf Coast insurance crisis has hit a new low as two state-chartered insurance associations are being forced to borrow hundreds of millions of dollars for the first time in three decades to pay the hurricane claims of insolvent insurers.
May 4, 2023
Catastrophe
Insurance Industry
Property
Florida
Louisiana

Federal Aid For South Florida Flooding: Biden Approves Major Disaster Declaration And FEMA Assistance
President Joe Biden has approved a major disaster declaration for Broward County, offering financial assistance to individuals and communities affected by the severe flooding that hit the area two weeks ago.
May 3, 2023
Property
Florida



