Claims News Recap
September 5th - 8th, 2017
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Friday, September 8th, 2017
While how much damage Hurricane Irma will cause once it hits land is still very much in doubt, one scenario has emerged that puts the cost at record levels. Historical models suggest that Irma’s price tag could reach $125 billion should a Category 4 Hurricane strike Miami directly, according to a note from Credit Suisse. That would correspond with a 1-in-100-year event as Irma currently is projected...
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Thursday, September 7th, 2017
Hurricane Irma hammered a string of northeast Caribbean islands, thrashing them with rain and winds of up to 180 mph, and leaving at least nine people dead. The hurricane battered several islands, including Barbuda, St. Martin and the British Virgin Islands, causing widespread devastation. Barbuda is barely inhabitable with nearly all its buildings damaged...
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Wednesday, September 6th, 2017
Flooding and wildfires are making massive headlines this summer and this extreme weather risk is placing considerable pressure on the property insurance industry. These types of disaster are spiking the number and cost of business and homeowners insurance claims. In fact, the extreme weather risk may have a greater economic toll on the insurance industry than any other industry in the world...
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Tuesday, September 5th, 2017
Florida Gov. Rick Scott has declared a statewide emergency in response to Hurricane Irma, a roiling storm that intensified into “an extremely dangerous Category 5 hurricane” while it churned toward the United States. Even as millions across Texas are reeling from the impact of Hurricane Harvey, which battered that region with record-setting rain and was blamed for at least 60 deaths, Irma continues to intensify and prompt increasingly alarming forecasts...
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