property insurance News

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 …

U.S. Coastal Communities Get $575M to Guard Against Floods, Other Climate Disasters

The federal government is giving more than a half-billion dollars to coastal communities to help them use nature-based preventative measures to address climate-related flooding and other disasters. The National Oceanic and Atmospheric Administration announced it is allocating $575 million to …

Bridging the Flood Insurance Gap – A Call to Action

Hurricane Beryl caused destruction and loss across Texas and throughout the middle of the country, reminding us, once again, of the dangers of climate change-impacted storms. As the rest of the 2024 hurricane season looms, homeowners across the country are …