A growing homeowners insurance crisis for Californians is straining brokers who must work harder to get increasingly expensive and more frequently unavailable coverage for their clients, a crisis many of them blame on regulations and wildfires. Wildfires have made the …
U.S. severe convective storms continued to drive global natural catastrophe losses during the first half of 2024. Of the estimated $61 billion in global H1 insured losses from natural disasters, SCS accounted for a minimum $37 billion – or 61% …
Hawaiian Electric Industries Inc. is among the companies that have tentatively agreed to pay more than $4 billion to resolve hundreds of lawsuits over the wildfires that ripped through Maui last year, according to people familiar with the deal. The …
DES MOINES, Iowa (AP) — Record flooding and powerful tornadoes ravaged parts of Iowa for weeks this spring, destroying or damaging thousands of homes, closing roads and bridges and costing over $130 million in infrastructure damage, officials said. The disasters …
Before Hurricane Idalia smashed into a small fishing village in northwestern Florida, Charles Long, 68, was fixing up a two-bedroom house for him and his wife. After the August storm, he found remnants of it in a nearby canal and …
A group of Houston restaurants that lost power for days after Hurricane Beryl sued the city’s main utility, accusing CenterPoint Energy Inc. of failing to adequately invest in infrastructure and respond to widespread power outages. The lawsuit, filed by various …
U.S. insured losses from Hurricane Beryl will likely fall between $2.5 billion to $4.5 billion, according to estimates by Moody’s RMS Event Response. Insured losses associated with the storm include wind, storm surge, and precipitation-induced flooding. Moody’s estimates total non-U.S. …
Here’s a troubling phrase hurricane forecasters hate but often hear: “It’s just a Category 1. Nothing to worry about.” Or even worse: “Tropical storm? Just some wind and rain.” But look at Hurricane Beryl, which hit Texas this week as …
Insurers’ losses from Hurricane Beryl will be “low and readily absorbed” and the storm is not expected to change pricing conditions in the P&C and reinsurance sectors, Moody’s Ratings said. Beryl made landfall along the Texas coast as a category …
Insurers in the United States may take a hit of about $2.7 billion from damage caused by Hurricane Beryl, catastrophe modeling company Karen Clark & Co. said on Thursday. About 1.5 million customers remained without power in Texas on Wednesday, …