An earthquake off the coast of Japan’s southern island of Kyushu prompted the government to issue its first-ever warning for a megaquake from an undersea trough running along a swath of the country’s coast. Prime Minister Fumio Kishida called off …
Insurers and reinsurers’ losses from Hurricane Debby are expected to be in the low single-digit billions of dollars, a figure that would be “very manageable” for the industry, according to a report from Gallagher Re. Wind and water-related losses could …
California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies to preserve residential insurance coverage for more than 185,000 policyholders affected by the Park, Borel and Gold Complex fires. The moratorium shields those living within the perimeters or …
Just as another hurricane hit Florida, the child of a central Florida woman is litigating a claim from a previous storm – Hurricane Ian in 2022. This time, though, the plaintiff claims not only breach of contract by a Florida …
Tropical Storm Debby is meandering through Georgia and South Carolina this morning, bringing as much as 25 inches (63.5 centimeters) of rain in some isolated spots. The storm was about 105 miles southwest of Charleston, South Carolina with top winds …
Hurricane Debby threatens to unleash days of heavy rain and flooding on the US East Coast after slamming into Florida near Tallahassee, knocking out power to thousands. As much as 12 inches (30 centimeters) will fall across a wide area …
Hawaiian Electric Industries Inc. has agreed to pay almost $2 billion as part of a $4 billion settlement to resolve hundreds of lawsuits over wildfires in Maui that killed dozens of people and destroyed the historic town of Lahaina last …
Firefighters have increased containment on the Park Fire near Chico, California, which at 621-square-miles as of Friday is now the fourth largest wildfire in history. The fire, which covers parts of four counties—Butte, Plumas, Shasta and Tehama—has a massive amount …
An analysis of 32,000 aviation industry claims over five years shows crashes and collisions account for well over half the value of all claims. Allianz Commercial’s Aviation Risk, Claims and Insurance Outlook examines an aviation industry beleaguered in recent years …
A report from Moody’s Ratings service contends that one good hurricane this year could wipe out the Florida Cat Fund’s reserves, potentially forcing it to place a small surcharge on Florida insurance premiums to finance more debt. But that may …