This nightmare called Tropical Depression Florence is far from over. "Many people who think that the storm has missed them have yet to see its threat," North Carolina Gov. Roy Cooper said. "This system is unloading epic amounts of rainfall -- in some places measured in feet, not inches."
Deadly storm Florence moved across western North Carolina early on Monday and continued to dump rain that has nowhere to go except to swell rivers, flood highways and homes, and threaten more lives as it heads towards Virginia and New England.
A potentially devastating Hurricane Florence is rumbling toward the Carolina coast this weekend, but for as historic as each new storm seems to be, insurers are preparing in relatively typical ways like activating additional staff in preparation for an onslaught of claims.
Hurricane Florence is making landfall in North Carolina, creeping ashore at 6 mph — but bringing winds of 90 mph, a massive storm surge, and a rain system that will soak much of the state and South Carolina for days. Forecasters warn of "life —threatening, catastrophic flash flooding."
Hurricane Florence is still hundreds of miles off the U.S. East Coast, but insurers are starting to see their potential costs from one type of claim mount as companies halt operations to let employees flee.
U.S. insurers are bracing for what could be $20 billion in losses as Hurricane Florence barrels toward the Carolinas and Virginia, bringing punishing rains and potentially deadly flooding.
As Hurricane Florence bears down on the southeastern United States, nearly 759,000 homes are in the storms path, and a worst-case rebuilding scenario could cost more than $170 billion, according to an estimate from real estate data provider CoreLogic.
More than 1.5 million people were ordered to evacuate their homes along the U.S. Atlantic coast as Hurricane Florence, a Category 4 storm and the most powerful to menace the Carolinas in nearly three decades, barreled in on Tuesday.
Hurricane Florence has its sights set on North and South Carolina, and if it hits as hard as predicted, the storm will be the most powerful to pound the area in three decades, CNN weather anchor Chad Myers said Monday morning.
Insurtech company REIN has launched DroneInsurance.com, with underwriting by Liberty Specialty Markets, providing usage-based insurance for commercial drone operators and simplifying the process of obtaining both base and liability coverage.
As summer approaches along the Gulf and Atlantic coasts, residents prepare for the hurricane season ahead. The Atlantic hurricane season — June through November (though known to start as early as January in past years) — has devastated communities from Texas to New England, resulting in significant recovery costs.
With so many businesses and individuals affected by Hurricanes including Maria, Harvey and Irma in 2017, risk managers and insurers are looking to revised forecasts of this years hurricane season for a glimmer of hope that 2018 will not bring the same destruction.
For the first time, the National Transportation Safety Board is recommending all new school buses be equipped with lap and shoulder seat belts, after the agency released findings from a special investigation report prompted by two deadly 2016 crashes.