Rising Roof Claims Challenge Insurers Amid Severe Weather and Roofing Scams
Severe weather, inflation, and roofing scams are driving a surge in roof-related insurance claims, forcing the industry to adjust coverage and policy conditions to manage risks.
November 18, 2024
Catastrophe
Fraud
Insurance Industry
Property
Texas
Flood Insurance Gaps Highlighted by Hurricane Helene’s Impact
The devastation caused by Hurricane Helene sheds light on the widespread lack of flood insurance, revealing critical challenges in accessibility, affordability, and risk awareness.
November 18, 2024
Legislation & Regulation
Property
Risk Management
Florida
Louisiana
Texas
AI Revolutionizes Hurricane Forecasting with Unprecedented Accuracy
AI weather models like GraphCast demonstrated remarkable accuracy during this hurricane season, outperforming traditional models in predicting storm tracks but facing challenges with intensity forecasting.
November 15, 2024
Catastrophe
Risk Management
Technology
Louisiana
Texas
Hailstorms Drive Record Insurance Losses as Experts Push for Better Detection and Prediction
Severe hailstorms in the U.S. have led to record insurance losses, with hail damage growing due to rising urbanization, climate change, and frequent severe convective storms. Enhanced monitoring projects promise insights to mitigate future risks.
November 5, 2024
Catastrophe
Insurance Industry
Risk Management
Technology
Colorado
Texas
Texas A&M Research Links Climate Change to Increased Hurricane Rainfall in the Southeast
A Texas A&M study shows a nearly 20% increase in extreme rainfall during storms like Hurricane Helene, linking climate change to intensified flooding risks across the southeastern United States.
October 28, 2024
Catastrophe
Property
Risk Management
Florida
Georgia
North Carolina
Texas
Catastrophe Bond Investors Dodge Severe Losses Following Hurricane Milton
After Hurricane Milton weakened before landfall, investors in catastrophe bonds are facing losses well below earlier estimates, with single-digit hits predicted instead of the feared 15%.
October 11, 2024
Catastrophe
Insurance Industry
Property
Risk Management
Florida
Texas
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, 2024
Legislation & Regulation
Litigation
Risk Management
Alabama
Florida
Georgia
Louisiana
Maryland
Solar Energy Growth Sparks Surge in Construction Claims
The rapid growth of solar energy is driving an increase in construction-defect claims, as industry experts highlight risks such as fire, environmental concerns, and insurance coverage issues.
October 4, 2024
Insurance Industry
Legislation & Regulation
Property
Risk Management
Arizona
California
Colorado
Florida
Texas
Tennessee School District Duped Out of $3.4 Million in Curriculum Vendor Scam
A rural Tennessee school district was swindled out of over $3 million when a finance officer unknowingly wired funds to a fraudster impersonating a legitimate curriculum vendor, part of a growing wave of email scams targeting schools.
October 1, 2024
Education & Training
Fraud
Litigation
Technology
Arizona
Ohio
Tennessee
Texas
Homeowners Insurance Costs Surge Across the U.S., Florida Takes the Lead with Soaring Rates
Homeowners across the U.S. are facing sharp insurance premium hikes, with Florida seeing the steepest increases, fueled by hurricane risks, fraud, and lack of competition.
September 18, 2024
Catastrophe
Litigation
Property
Risk Management
Florida
Louisiana
Texas
Hurricane Francine to Hit Louisiana Wednesday Bringing Storm Surge, High Winds, and Flooding
Hurricane Francine will make landfall in Louisiana, bringing dangerous storm surge, high winds, heavy rain, and tornado threats to the Gulf Coast and southern states. Flooding may extend as far north as the Ohio Valley later in the week.
September 11, 2024
Catastrophe
Litigation
Property
Risk Management
Alabama
Florida
Georgia
Louisiana
Mississippi
Roof Damage Claims Surge Nationwide Amid Extreme Weather and Rising Costs
The surge in roof damage claims, driven by extreme weather and rising repair costs, is creating significant challenges for insurers, with increased fraud and evolving policy terms adding to the crisis.
September 11, 2024
Fraud
Legislation & Regulation
Property
Risk Management
Alabama
Arkansas
Florida
Illinois
Minnesota
Tropical Storm Francine Set to Become Hurricane, Targeting Gulf Coast with Storm Surge and Heavy Rain
Tropical Storm Francine is forecast to strengthen into a hurricane before making landfall along the Gulf Coast, bringing dangerous storm surge, heavy rain, and potential flooding to parts of Louisiana and Texas by midweek.
September 9, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Alabama
Louisiana
Mississippi
Texas
Catastrophe Bond Market Surges to $45.6 Billion in Outstanding Capital
The catastrophe bond market has reached unprecedented levels, recording $12.2 billion in new transactions and pushing total capital to $45.6 billion, driven by growing risk transfer needs.
September 4, 2024
Catastrophe
Insurance Industry
Property
Risk Management
California
Florida
Texas
Federal Policy Conflicts Could Raise Flood Insurance Costs, Leave Thousands Unaware of Dam Risks
Conflicting federal policies hinder communities from accessing vital dam failure data, potentially raising flood insurance costs and leaving residents unaware of flood risks.
August 26, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Arizona
California
Colorado
Georgia
Minnesota
