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FEMA Cuts Red Tape on Federal Flood Insurance Payments for Florida Policyholders

FEMA Cuts Red Tape on Federal Flood Insurance Payments for Florida Policyholders

The Federal Emergency Management Agency (FEMA) has expedited access to flood insurance dollars in the wake of Hurricane Ian, according to Chief Financial Officer Jimmy Patronis.
October 5, 2022 Property Florida

Colorado Insurance Recoveries Up 93% Due to Wildfire Claims

Colorado Insurance Recoveries Up 93% Due to Wildfire Claims

The state helped Coloradans recover nearly $20 million in additional insurance payments last year, mostly from catastrophic wildfire claims.
October 5, 2022 Auto Legislation & Regulation Life & Health Property Colorado

Audit: Louisiana DOI Could Do More to Improve Handling of Claims Complaints

Audit: Louisiana DOI Could Do More to Improve Handling of Claims Complaints

The Louisiana Department of Insurance could do more to improve claims handling, though the department is complying with the law to ensure companies are handling claims in a fair and timely manner, according to a Louisiana Legislative Auditor’s report.
October 3, 2022 Legislation & Regulation Property Louisiana

Verisk Projects Insured Losses from Hurricane Ian up to $57B

Verisk Projects Insured Losses from Hurricane Ian up to $57B

Insurers are bracing for a hit of up to $57 billion as they try to assess the damage from Hurricane Ian in Florida and South Carolina, risk modeling firm Verisk said on Monday.
October 3, 2022 Catastrophe Property Florida South Carolina

Insurers in Florida Temporarily Blocked from Dropping Policies

Insurers in Florida Temporarily Blocked from Dropping Policies

Insurance Commissioner David Altmaier on Wednesday issued an emergency order that will temporarily prevent property insurers from dropping customers in the aftermath of Hurricane Ian. The order will suspend cancellations or non-renewals of policies for two months.
October 3, 2022 Catastrophe Legislation & Regulation Property Florida

Canadian Insurers Won’t Have to Pay for Most of Hurricane Fiona’s Damages

Canadian Insurers Won’t Have to Pay for Most of Hurricane Fiona’s Damages

Though the amount of insured damage caused to Atlantic Canada by Hurricane Fiona is expected to reach about $700 million, insurance companies likely won’t have to foot the bill for most the damage the storm left behind.
September 30, 2022 Catastrophe Property

Hurricane Ian Leaves Billions In Damages in Florida

Hurricane Ian Leaves Billions In Damages in Florida

Hurricane Ian flooded major cities and devastated homes after it made landfall in Florida -- but the damage isn’t done. After temporarily becoming a tropical storm, Hurricane Ian accelerated to Category 1 strength on Thursday night as it barreled toward South Carolina, with landfall expected on Friday.
September 30, 2022 Auto Catastrophe Property Florida

Hurricane Ian Could Smash Florida’s Fragile Property Insurance Market

Hurricane Ian Could Smash Florida’s Fragile Property Insurance Market

A massive, deadly hurricane like Ian could topple the state’s already unstable property insurance market, some lawmakers and industry experts said Tuesday, as the storm took aim at Florida.
September 27, 2022 Insurance Industry Legislation & Regulation Litigation Property Florida

Atlantic Canada Assesses Damage from Post-tropical Storm Fiona

Atlantic Canada Assesses Damage from Post-tropical Storm Fiona

Post-tropical storm Fiona swept through Atlantic Canada and eastern Quebec this weekend, knocking out power to hundreds of thousands of people, washing away homes and cottages, and causing widespread flooding and infrastructure damage.
September 26, 2022 Property

Sixth Florida Property Insurer Declared Insolvent

Sixth Florida Property Insurer Declared Insolvent

State regulators have asked a judge to place a property-insurance company in receivership, making it the sixth Florida property insurer declared insolvent this year amid widespread financial problems in the industry.
September 26, 2022 Legislation & Regulation Property Florida

Hurricane Ian to Reach Major Status on Way to Florida Landfall

Hurricane Ian to Reach Major Status on Way to Florida Landfall

As projected, tropical storm Ian continued to intensify and has now been upgraded to a hurricane by the National Hurricane Center (NHC), with the model consensus showing a rapidly intensifying hurricane Ian reaching Category 3 or 4 strength as it heads towards the Florida Peninsula.
September 26, 2022 Catastrophe Property Florida

Study Shows Access to Flood Data Affects Homebuyers’ Purchase Decisions

Study Shows Access to Flood Data Affects Homebuyers’ Purchase Decisions

Behavior change at many levels is key to addressing the rising human and economic costs associated with climate risk. But change is hard, and actionable data is essential to supporting the case for change.
September 22, 2022 Property

6 Insurance Lawsuits Filed Over Oregon Labor Day 2020 Fires

6 Insurance Lawsuits Filed Over Oregon Labor Day 2020 Fires

A half-dozen Oregon homeowners and businesses have filed federal lawsuits this month alleging underpayments in the aftermath of the destructive Labor Day 2020 wildfires, including the Almeda Fire.
September 20, 2022 Litigation Property Oregon

III: Florida’s Citizens is Selling Insurance at a Loss

III: Florida’s Citizens is Selling Insurance at a Loss

Long known as the nation’s most hurricane-prone state, Florida has achieved a new status that is aggravating hurricane anxieties and threatening real-estate values. Florida has the worst property-insurance market.
September 19, 2022 Catastrophe Legislation & Regulation Property Florida

Catastrophic Flooding in Puerto Rico as Hurricane Fiona Dumps Nearly 30 Inches of Rain

Catastrophic Flooding in Puerto Rico as Hurricane Fiona Dumps Nearly 30 Inches of Rain

Hurricane Fiona struck Puerto Rico’s southwest coast on Sunday, bringing destructive flooding, mudslides and an island-wide power blackout one day after leaving one dead in the Leeward Islands.
September 19, 2022 Property
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