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Partiers Collapse Third Floor In Texas College Apartments

A party in Denton turned into terror and chaos when the third floor at a student housing complex collapsed. Most of the people affected by the collapse at the Ridge Apartments are okay, but now, dozens of University of North Texas students don’t have a home.
November 13, 2017 Excess & Surplus Lines Texas

Underwriter Hiscox Revises Down Hurricane Claim Estimates

Lloyd’s of London underwriter Hiscox Ltd said it now estimates net claims for Hurricanes Harvey, Irma and Maria to total around $225 million, having previously estimated the same amount for Harvey and Irma alone.
November 7, 2017 Auto Catastrophe Property Florida Texas

Hurricane Season Revealed Lack Of Resiliency In The U.S.

Hurricanes Harvey, Irma and Maria laid bare fundamental inadequacies of the current flood insurance program in the U.S.
November 1, 2017 Catastrophe Property Florida Texas

Hurricanes Expose Vulnerability Of Businesses To Coastal Flood Risks

The preparedness of U.S. businesses is still wanting despite lessons learned from Hurricane Sandy and the high hurricane activity, devastation and losses so far this Atlantic hurricane season, suggests Allianz Global Corporate & Specialty (AGCS).
October 30, 2017 Catastrophe Property Louisiana New Jersey New York Texas

Lloyd’s Revises Harvey, Irma And Maria Claims Estimates To $4.9B

Lloyd’s has revised its net claims estimates for Hurricanes Harvey and Irma to a combined US$3.9 billion, plus a preliminary claims estimate for Hurricane Maria of US$0.9 billion.
October 24, 2017 Auto Catastrophe Property Florida Georgia Texas

One Dead In Oil Barge Fire Off Port Aransas, Texas

The U.S. Coast Guard reported Friday that the oil barge B255 caught fire early on Friday at a position about three miles off the harbor entrance at Port Aransas, Texas. The barge was under tow by the ATB tug Buster Bouchard at the time of the incident.
October 23, 2017 Marine Workers' Compensation Texas

NICB: Hurricanes Leave Record Numbers Of Vehicles Damaged

Flooded vehicles have finally stopped arriving at the Royal Purple Raceway east of Houston. That is just one of several insurance industry salvage locations where more than 422,000 insured vehicles damaged by Harvey have been taken for processing.
October 19, 2017 Auto Salvage Florida Texas

Lloyd’s Pushing Rapid Claims Processing Response Following Hurricanes

Hurricanes Harvey, Irma and Maria left catastrophe and devastation behind, and Lloyd’s insurance claims are being rapidly processed, says the market. The company says it is responding quickly and has even made some advance payments.
October 18, 2017 Catastrophe Property Risk Management Florida Texas

CAT Crews Busy Closing Out Hurricane Claims

The relentless hurricane season is keeping Bloomington-based insurers busy. With seven weeks to go, the 2017 hurricane season is already the third most active on record.
October 18, 2017 Auto Catastrophe Property Alabama Florida Georgia Texas

Cost Of Hurricanes To Insurance Industry Will Break $100B

Though it’s too early to know the insured damage total of Hurricane Nate, the cost of hurricanes to insurance industry coverage providers in the United States will already reach $100 billion, says JPMorgan. This prediction aligns with other industry players, such as Fitch Ratings.
October 16, 2017 Catastrophe Property Florida Texas

XL Group Estimates $1.33B Loss From Hurricanes Harvey, Irma And Maria

XL Group Ltd. reported on Wednesday a preliminary estimate of approximately US$1.33 billion relating to Hurricanes Harvey, Irma and Maria.
October 13, 2017 Catastrophe Property Florida Texas

AIG Forecasts $3B In Q3 Catastrophe Losses

American International Group expects to record insurance losses of roughly $3 billion during the third quarter from the recent hurricanes and earthquakes.
October 10, 2017 Auto Catastrophe Excess & Surplus Lines Marine Property Florida Georgia South Carolina Texas

About 85% Of U.S. Gulf Oil Output Offline Due To Nate

About 85 percent of U.S. Gulf of Mexico oil production is offline in the aftermath of Hurricane Nate, the U.S. Department of the Interior’s Bureau of Safety and Environmental Enforcement (BSEE) said on Monday.
October 10, 2017 Excess & Surplus Lines Louisiana Texas

Property Claim Services, NFIP To Report Aggregate Flood Loss Estimates

Property Claim Services (PCS) reported on Thursday that it will publish aggregate flood loss information supplied by the National Flood Insurance Program (NFIP), beginning with Hurricane Harvey.
October 6, 2017 Liability Property Mississippi Texas

The Problems With Harvey: Litigation Lessons

In the days after a catastrophic loss like Hurricane Harvey, challenges abound for insurers. Due to the extensive damage often caused by a disaster, insureds are justifiably distraught.
October 5, 2017 Catastrophe Litigation Property Louisiana Texas
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