Moody’s RMS Estimates $2.5-$4.5 Billion in U.S. Insured Losses from Hurricane Beryl
Moody’s RMS estimates U.S. insured losses from Hurricane Beryl between $2.5 and $4.5 billion, with NFIP losses under $300 million and non-U.S. losses not exceeding $1.5 billion.
July 16, 2024
Catastrophe
Insurance Industry
Property
Risk Management
Texas
Understanding Hurricane Categories: Why Even "Weaker" Storms Can Be Dangerous
While often dismissed, Category 1 hurricanes and tropical storms can cause significant damage and fatalities, emphasizing the need for a comprehensive understanding of storm impacts beyond mere wind strength.
July 15, 2024
Catastrophe
Insurance Industry
Risk Management
Technology
Florida
Louisiana
New York
Texas
Nearly 300,000 Without Power in Texas One Week After Hurricane Beryl
Hundreds of thousands of Texans remain without power one week after Hurricane Beryl caused widespread damage. Gov. Greg Abbott has demanded an explanation from Houston’s main electricity supplier.
July 15, 2024
Catastrophe
Legislation & Regulation
Risk Management
Technology
Texas
Hurricane Beryl Estimated to Cause $3.3 Billion in Insured Losses Across the Americas
Hurricane Beryl is estimated to have caused $3.3 billion in insured losses, with $2.7 billion in the U.S., $510 million in the Caribbean, and $90 million in Mexico.
July 11, 2024
Catastrophe
Insurance Industry
Property
Technology
Texas
White House Elevates Infrastructure to Combat Intensifying Floods
The Biden administration finalizes a policy requiring FEMA-funded reconstruction projects to be elevated above local flood levels to mitigate damage from intensifying floods due to climate change.
July 11, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Texas
Insurers Gained $50 Billion From Medicare for Untreated Diseases
Medicare Advantage insurers received $50 billion from questionable diagnoses, including diseases like diabetic cataracts and HIV, for conditions that were not treated or didn’t exist.
July 8, 2024
Fraud
Insurance Industry
Legislation & Regulation
Technology
Alabama
Arizona
Florida
Georgia
Massachusetts
Hurricane Beryl Slams Texas with Deadly Force: 90 mph Gusts, Life-Threatening Storm Surge
Hurricane Beryl made landfall in Texas, bringing 90 mph winds, torrential rain, and life-threatening storm surge, leaving one person dead and over 1.5 million without power.
July 8, 2024
Catastrophe
Insurance Industry
Property
Risk Management
Texas
Hurricane Beryl’s Unprecedented Early Season Impact Signals Climate Concerns
Hurricane Beryl’s rapid intensification in early July breaks records and raises concerns about future storm activity due to climate change.
July 2, 2024
Catastrophe
Property
Risk Management
Texas
Escalating Home Insurance Costs Linked to Disaster Risk: Insights from Mortgage Escrow Data
An analysis of 47 million homeowners’ insurance expenditures reveals a sharp increase in premiums from 2020 to 2023, with disaster-prone areas experiencing the most significant hikes due to rising reinsurance costs.
July 1, 2024
Catastrophe
Insurance Industry
Property
Risk Management
California
Florida
Louisiana
Texas
Former Green Bay Packer Randall Cobb, and Family Survive House Fire in Nashville
NFL wide receiver Randall Cobb and his family narrowly escaped a fire at their Nashville home, which began in the garage and caused significant damage, but fortunately left everyone unharmed.
June 27, 2024
Catastrophe
Insurance Industry
Property
Risk Management
Tennessee
Texas
Lightning-Related Insurance Claims Soar in 2023
The Insurance Information Institute (Triple-I) reported a 30% increase in total claims value from 2022, highlighting the financial impact of severe convective storms.
June 19, 2024
Catastrophe
Insurance Industry
Property
Risk Management
Alabama
California
Florida
Georgia
Louisiana
Copper Cable Theft Plagues EV Charging Stations
The rise in cable thefts is occurring amidst significant efforts by major U.S. automakers to promote electric vehicles as a key strategy to combat climate change.
June 19, 2024
Insurance Industry
Property
Risk Management
Technology
Arizona
California
Colorado
Illinois
Nevada
Tropical Storm Warning Issued for Southern Texas as First Storm of Hurricane Season Approaches
The first tropical storm warning of the season has been issued for southern Texas as a developing storm in the Gulf of Mexico threatens heavy rain, flooding, and strong winds.
June 18, 2024
Catastrophe
Legislation & Regulation
Property
Risk Management
Texas
El Paso Woman Files $1 Million Lawsuit Against Mexican Resort Over Husband’s Electrocution
Lizzette Zambrano sues Sonoran Sea Resort for over $1 million after her husband, Jorge Guillen, was electrocuted in a hot tub, leaving her critically injured and claiming his life.
June 17, 2024
Liability
Litigation
Property
Risk Management
Arizona
Texas
Heavy Rains Aim for Texas and Louisiana as Tropical System Brews in Gulf of Mexico
AccuWeather hurricane experts are monitoring the southwestern Gulf of Mexico for potential tropical development this week.
June 17, 2024
Catastrophe
Property
Risk Management
Florida
Louisiana
Texas
