property insurance News

Removing U.S. Subsidies Curbed Building in Climate Risk Zones, Study Finds

The U.S. Congress passed the Coastal Barrier Resources Act in 1982 to preserve relatively undeveloped waterfront areas as natural buffer zones. At least 1.4 million acres along the Atlantic and Gulf coasts were made ineligible for the kind of federal …

Weather Service: Extreme Flood Risk Increasing in Next Few Days from Debby

An extreme risk to lives and property from widespread flooding is expanding across the Southeast this week before Debby makes a second landfall in the Carolinas and then quickly shifts to the Northeast, according to AccuWeather. The weather services is …

Storm Debby Threatens Carolinas With Possible Floods, Tornados

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 …

California Wildfire Now State’s Fourth Largest on Record, 540 Structures Destroyed

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 …

Understanding Complexities of HVAC Damage After a Hurricane is Crucial for Claims Adjusters

Hurricane-induced damage to properties is a significant concern for residential and commercial structures alike, particularly for heating, ventilation and air conditioning systems. HVAC systems are essential for maintaining indoor air quality and comfort, and their damage can lead to substantial …

Hurricane Would Blow Through Florida Cat Fund’s Reserves. But That May be OK, Report Says

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 …

Study Shows Saharan Dust Plumes Impact Hurricanes in the U.S.

Giant plumes of Sahara Desert dust that gust across the Atlantic can suppress hurricane formation over the ocean and affect weather in North America, according to findings of a newly released study by Stanford University. The thick dust clouds can …

Are Captives the Answer for Uninsured HOAs? Utah Opens Door

When actuary Greg Fears attended a Western Region Captive Insurance Conference in April, he expected to learn and share information about emerging uses of captives for commercial risks, including trucking captives—a recent focus of his attention. But during the last …

Wildfire in California Now State’s Fifth Largest on Record, Destroyed 277 Structures

The Park Fire near Chico, California, at 609 square miles is now the fifth largest wildfire in history, destroying 277 structures and damaging 29, according to CalFire. The fire covers four counties—Butte, Plumas, Shasta, Tehama—and is 389,791 acres. The fire …

AccuWeather: Tropical Threat Developing in Atlantic Could be Next Named Storm

Debby could be the next name most frequently out of the mouths of hurricane watchers and emergency responders. Meteorologists tracking a new threat to the Caribbean and the U.S. coast say a developing tropical rainstorm in the Atlantic east of …