South Carolina News / Claims Pages

Record-Breaking 2024 Hurricane Season Ends with $50 Billion in Insured Losses

The 2024 Atlantic hurricane season, ending with 18 named storms, saw record-breaking storms, including Hurricane Milton, which inflicted billions in insured losses across the U.S.

December 2 Catastrophe Insurance Industry Property Risk Management Florida Georgia Louisiana North Carolina South Carolina

Rising Inland Flood Risk Demands Urgent Attention in U.S.

The Insurance Information Institute’s latest report highlights the increasing flood risks faced by inland areas due to shifting weather patterns. Hurricanes, tropical storms, and thunderstorms are pushing the boundaries of flood-prone regions, underscoring the need for better insurance coverage, flood resilience, and mitigation strategies to bridge the protection gap in non-coastal communities.

November 14 Catastrophe Legislation & Regulation Property Risk Management Florida Georgia Kentucky New Jersey New York

Florida Hurricane Damage Claims Reach $4.775 Billion After Hurricanes Helene and Milton

Insurance claims in Florida from Hurricanes Helene and Milton have reached $4.775 billion, up $169 million from last week’s total. The storms have left extensive residential and commercial property damage, according to the Office of Insurance Regulation.

November 12 Catastrophe Insurance Industry Legislation & Regulation Property Florida Georgia North Carolina South Carolina Tennessee

Widespread Flooding from Hurricane Helene Spotlights Inland Insurance Gaps

The devastation from Hurricane Helene reveals a significant inland flood-protection gap, particularly in flood-prone communities without sufficient insurance coverage, where misinformation and funding challenges further slow recovery efforts.

October 28 Catastrophe Insurance Industry Legislation & Regulation Risk Management Florida Georgia Kentucky New Jersey New York

Climate Change Intensifies Hurricane Helene’s Impact on Coastal and Inland Communities

Hurricane Helene, a Category 4 storm, caused catastrophic flooding and destruction from Florida’s coast to the Southern Appalachians. Research shows climate change intensified its rainfall, winds, and flooding risks.

October 11 Catastrophe Legislation & Regulation Property Risk Management Florida Georgia North Carolina South Carolina Tennessee

Hurricane Milton Could Deplete U.S. Insurers’ Catastrophe Budgets, Global Reinsurers Likely to Endure

Hurricane Milton, a Category 5 storm expected to strike Florida, threatens to deplete U.S. property/casualty insurers’ catastrophe budgets and test global reinsurers’ limits, though most are expected to weather the storm without significant capital impacts.

October 10 Catastrophe Insurance Industry Property Risk Management Florida Georgia North Carolina South Carolina

Waffle House Index Signals Severe Impact from Hurricane Milton in Florida

The Waffle House Index, a quirky yet reliable gauge of storm severity, shows widespread closures across Florida as Hurricane Milton approaches, warning of significant damage and disruption.

October 9 Catastrophe Property Risk Management Technology Florida Georgia North Carolina South Carolina

Federal Flood Maps Lag Behind Climate Disasters, Leaving Millions at Risk

As climate-intensified storms expose the limitations of FEMA’s outdated flood maps, millions of Americans may face flood risks without adequate insurance protection, especially in areas prone to heavy rainfall.

October 9 Catastrophe Legislation & Regulation Property Risk Management Florida Georgia North Carolina South Carolina

Hurricane Milton Threatens Central Florida with Potential Direct Hit

Hurricane Milton, set to make landfall as a Category 3 storm, could bring catastrophic impacts to Florida’s Gulf Coast, particularly the Tampa area, just two weeks after Hurricane Helene’s devastation.

October 9 Catastrophe Insurance Industry Property Risk Management Florida Georgia North Carolina South Carolina

Hurricane Milton Strengthens to Category 4, Poised for Midweek Florida Landfall

Hurricane Milton, now a powerful Category 4 storm, is set to make landfall midweek in Florida, bringing life-threatening storm surges, heavy rain, and strong winds.

October 7 Catastrophe Legislation & Regulation Property Risk Management Florida Georgia North Carolina South Carolina

Hurricane Helene Losses Projected in Billions, But US P&C Insurers Expected to Withstand Impact

Hurricane Helene’s estimated insured losses range between $5 billion and $9 billion, but S&P Global believes the event will affect earnings without jeopardizing the capital of US property and casualty insurers.

October 4 Catastrophe Insurance Industry Property Risk Management Florida North Carolina South Carolina

FEMA Faces Funding Shortage as Hurricane Helene Devastates the Southeast

FEMA is running low on disaster relief funds as it responds to Hurricane Helene, which caused severe damage across several Southeastern states. Congress may need to pass additional funding to sustain relief efforts.

October 4 Catastrophe Legislation & Regulation Property Risk Management Florida Georgia Louisiana North Carolina South Carolina

Dockworkers Reach Tentative Deal, Strike Suspended Until January

U.S. dockworkers have suspended their strike after reaching a tentative agreement with terminal operators, securing a wage increase and agreeing to continue negotiations in January.

October 4 Legislation & Regulation Litigation Risk Management Alabama Florida Georgia Louisiana Maryland

Hurricane Helene’s Economic Impact Could Reach $160 Billion Due to Infrastructure Destruction and Business Losses

Economic estimates for Hurricane Helene project up to $160 billion in damage, driven by widespread infrastructure failure, property loss, business disruption, and long-term recovery costs.

September 30 Catastrophe Insurance Industry Property Risk Management Florida Georgia Kentucky North Carolina Ohio

Helene Hits Florida as Category 4 Hurricane, Unveils Critical Flood Insurance Gap

Hurricane Helene’s catastrophic flooding from Florida to North Carolina exposes the serious lack of flood insurance coverage among homeowners, especially in inland areas, highlighting the increasing risks from extreme weather events.

September 30 Catastrophe Legislation & Regulation Property Risk Management Florida Georgia Kentucky North Carolina South Carolina