U.S. population growth in hurricane-prone states, coupled with the increasingly heavy rainfall which accompany these storms, has generated costlier insurance claim payouts for wind and flood-caused property damage, according to the Insurance Information Institute (Triple-I).

If a leak destroys an apartment, is a co-op board responsible for the repairs?
In the event of a fire, water, or other damage, almost every proprietary lease has boilerplate language on who is responsible for certain repairs to common areas or apartments.

Economic losses from catastrophic flooding across Vermont earlier this week could reach into the hundreds of millions of dollars or higher, Aon PLC said in a report Friday.

The rainfall that hit parts of Vermont on Monday had less than a 1-in-100 chance of occurring in any given year, according to federal flood data. And yet, for some residents, it brought a sense of déjà vu -- it rivaled the devastation of another so-called 100-year storm, Hurricane Irene, from a dozen years ago.

In response to the State of Emergency declared by Governor Phil Scott on July 9, the Vermont Department of Financial Regulation has announced a measure to allow property and casualty insurance carriers to utilize individual adjusters who are not licensed in Vermont.

Most property insurance policies contain 'Concealment or Fraud' provisions. As the name suggests, these provisions penalize claimants for material misrepresentations or concealment by releasing insurers from payment obligations, regardless of whether relevant claims would otherwise be covered.

S​irens blared in downtown Chicago as tornadoes roared through the area Wednesday evening, damaging homes and cars and sending passengers at O'Hare International Airport into tunnels for shelter.

Farmers Insurance has become the latest company to restrict new homeowner policies in California due to soaring inflation and a surge in severe weather events, which have escalated business expenses. The decision, effective as of July 3, applies to new policies only.

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.

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.

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

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.

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.

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.

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.