Colorado State University researchers are predicting a more active Atlantic hurricane season next year, with six to eight hurricanes, at least three of them major. Philip Klotzbach and William Gray predict 11 to 16 named storms in the forecast released …
A weakening Tropical Storm Ida lashed the U.S. Gulf Coast with drenching rain and high surf Tuesday as it moved ashore after shutting down almost 30 percent of Gulf of Mexico energy production. Ida, once a Category 2 hurricane, made …
Thanks to El Nino, the 2009 Atlantic hurricane season has been the quietest in more than a decade, offering a reprieve for residents in the danger zone and a chance for insurance firms to refill depleted coffers. With the peak …
As the hurricane season shifts into fall a new study presents an improved analytical tool for predicting potential power outages and helping utility companies deploy repair crews in advance of hurricanes and other storm events. “Hurricanes have caused severe damage …
Florida is second only to California in the number of home foreclosures — more than 268,000 — in the first six months of 2009. It is also a primary windstorm target during the Atlantic hurricane season. This convergence of nature …
Tornadoes that occur from hurricanes moving inland from the Gulf Coast are increasing in frequency, according to researchers at the Georgia Institute of Technology. This increase seems to reflect the increase in size and frequency among large hurricanes that make …
As the 2009 Atlantic hurricane season enters its peak period, the finances of a number of residual market property plans in hurricane-exposed states are on shaky ground. The credit crunch and prolonged economic downturn have exacerbated the already vulnerable financial …
A.M. Best Co. has downgraded the financial strength ratings (FSR) to D (Poor) from B (Fair) and issuer credit ratings (ICR) to “c” from “bb” of Tower Hill Preferred Insurance Co., Tower Hill Prime Insurance Co. and Omega Insurance Co. …
Florida property insurers are warning residents that a major hurricane is likely this season given the state’s history of storms. At the same time, the industry says the state-backed catastrophe reinsurance fund, the Florida Hurricane Catastrophe Fund, and the state’s …
Miami-based First Commercial Insurance Co. and its subsidiary have been declared insolvent and ordered liquidated about six weeks after being placed under state control. All policies written by FCIC and its subsidiary, First Commercial Transportation and Property Insurance Co., are …