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Blaze Destroys Home Depot In San Jose, Raises Safety Questions

Blaze Destroys Home Depot In San Jose, Raises Safety Questions

It took San Jose and mutual aid firefighters more than six hours to get a San Jose Home Depot fire under control just before midnight on Sunday -- at its peak 110 crews were battling the 5-alarm blaze.
April 11, 2022 Property California

1M Policies Expected; Florida’s Citizens Requests Rate Increase

1M Policies Expected; Florida’s Citizens Requests Rate Increase

Citizens Property Insurance Corp., the state-run 'insurer of last resort,' is proposing an across-the-board rate hike of nearly 11%, the highest increase allowed by law. The request comes as Florida's private property insurance market sinks deeper into turmoil, insurance industry analysts said, driven in part by roof-replacement fraud and widespread litigation.
April 8, 2022 Legislation & Regulation Property Florida

Fear Reigns As Louisiana Braces For New NFIP Rates

Fear Reigns As Louisiana Braces For New NFIP Rates

Try this word game, but a couple of disclaimers first: It's not supposed to be fun, and it could have a severe effect on your property value. 'In general, the analysis approach for leveed areas was similar to that for non-leveed areas, however the leveed area analysis relied solely on KatRisk and MDI because it was not possible to adjust the AIR and CoreLogic models based on the USACE analysis described above.'
April 8, 2022 Catastrophe Legislation & Regulation Property Louisiana

Louisiana Bill Proposes To Limit Adjusters Per Claim

Louisiana Bill Proposes To Limit Adjusters Per Claim

After a disaster, Louisianans are running into problems with their insurance companies sending dozens of adjusters to their case -- leading to major delays in support. Some legislation is looking to tackle that problem despite insurance companies raising objections.
April 7, 2022 Catastrophe Legislation & Regulation Property Louisiana

March Sets Record For Most Tornado Reports

March Sets Record For Most Tornado Reports

After back-to-back tornado outbreaks two weeks in a row, last month set the record for most tornado reports during the month of March. As of Friday morning, the current preliminary number was 233 tornado reports, breaking the record of 225 reports in 2012, with records going back to the year 2000.
April 4, 2022 Auto Property Alabama Arkansas Florida Louisiana Mississippi

Tennessee Wildfires Contained, 300 Structures Damaged

Tennessee Wildfires Contained, 300 Structures Damaged

Crews from the Tennessee Division of Forestry on Sunday continued to douse hot spots and fight the fires sparking near the Great Smoky Mountain National Park in Sevier County.
April 4, 2022 Property Tennessee

Tornado Damage To Round Rock, TX Homes Estimated At $32M

Tornado Damage To Round Rock, TX Homes Estimated At $32M

A week after a tornado ripped through Round Rock, city leaders on Monday released their official estimates on the damage left behind. According to preliminary assessments, more than 680 residential structures were damaged at an estimated cost of $32 million.
March 31, 2022 Property Texas

Judge OKs $83M For Property Loss In Florida Condo Collapse

Judge OKs $83M For Property Loss In Florida Condo Collapse

People who owned units in a Florida oceanfront condominium building that collapsed last year will divide $83 million for property losses, with the compensation for families over the 98 deaths still to be determined, a judge ruled Wednesday.
March 31, 2022 Property Florida

At Least 2 Killed In Florida As Tornado Outbreak Batters Southern US

At Least 2 Killed In Florida As Tornado Outbreak Batters Southern US

A line of severe storms packing isolated tornadoes and high winds ripped across the Deep South overnight killing at least two in the Florida Panhandle, toppling trees and power lines and leaving homes and businesses damaged as the vast weather front raced across several states.
March 31, 2022 Property Alabama Arkansas Florida Mississippi Missouri

A New Approach To Anticipating Flood Damage

A New Approach To Anticipating Flood Damage

A recent research paper presents a 'proof of concept' for predicting flood damage probabilities - ' using only open-source data and machine learning methods - ' that the authors say can 'fill in gaps of unreported or unaccounted flood damage, identify unexpected damage, and rapidly update estimates [of flood damage probabilities] as new information becomes available.'
March 30, 2022 Property

Why Killing Mold Is Not Enough For An Insurance Claim

Why Killing Mold Is Not Enough For An Insurance Claim

Claims adjusters and managers recognize that most home and business policies have caps on the amount paid out to deal with mold remediation.
March 25, 2022 Property

Fraud, Litigation Push Florida’s Home Insurers Into Insolvency

Fraud, Litigation Push Florida’s Home Insurers Into Insolvency

Insurers protecting Florida's homeowners are going under. And it's not the state's infamous storms dragging the firms down -- it's a deluge of lawsuits and fraud.
March 24, 2022 Fraud Litigation Property Florida

 State Of Emergency Declared After Tornadoes Slice Through New Orleans Area

State Of Emergency Declared After Tornadoes Slice Through New Orleans Area

Louisiana's governor declared a state of emergency on Wednesday after tornadoes sliced through the New Orleans area Tuesday night, lifting homes off their foundations, leaving thousands without power and killing at least one person.
March 24, 2022 Catastrophe Property Louisiana

Insurer Loses First Federal Hurricane Laura Court Case

Insurer Loses First Federal Hurricane Laura Court Case

The first ever Hurricane Laura case heard by a federal court has ended in a decision against an insurance company and in favor of Joey Odem, the plaintiff who is the owner of a commercial property near Lake Charles' Petro Point.
March 18, 2022 Litigation Property Louisiana

Insurers No Longer On The Sidelines With Blockchain

Insurers No Longer On The Sidelines With Blockchain

Blockchain technology is making inroads in the insurance sector. Used to automate and streamline processes for paying claims, blockchain is being embraced by more and more insurance entities looking for streamlined transactions.
March 18, 2022 Liability Property Technology
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