property insurance News

Record-Breaking Hurricane Beryl Is Getting Stronger on a Path to Grenada

Record-breaking Hurricane Beryl is intensifying as it churns through the Caribbean south of Grenada, where it’s forecast to unleash catastrophic winds, life-threatening storm surge and flooding rains. Beryl regained Category 4 strength after briefly weakening, the US National Hurricane Center …

Texas Health System Loses COVID-19 Business Interruption Suit – 5th Circuit

A Texas nonprofit health system who purchased a specialized commercial property insurance policy is not covered for business interruption losses caused by COVID-19, a 5th Circuit Court of Appeals panel ruled, relying on existing precedent that COVID-19 does not physically …

Report: 1K-Plus Properties Damaged, Destroyed in New Mexico Wildfires Could Cost $370M

More than 1,000 residential properties in New Mexico may have been damaged or destroyed by wildfires in New Mexico, according to property data firm CoreLogic. “Multiple, active wildfires in south-central New Mexico potentially impacted approximately 1,300 residential properties with a …

Floodwaters Inundate Midwest, Where Flood Insurance is Rarely in Force

Floodwaters damaged hundreds of properties this week across parts of Nebraska, Iowa, Minnesota and South Dakota as the Midwest recovers from days of intense rainfall. Three days of torrential downpours resulted in as much as 18 inches of rainfall in …

Hundreds of Thousands in Southeast Now in Flood Zones With New Maps

Many more properties, including hundreds of thousands of homes across Florida and other parts of the Southeast, will be required to purchase flood insurance after July 31, due to revisions in federal flood maps. For some of the most exposed …

FEMA Ready for Extreme Hurricanes and Wildfires, But Money is a Concern

The head of the Homeland Security Department said that the agency tasked with responding to disasters across the country is prepared as it goes into what is expected to be an intense hurricane and wildfire season but he’s concerned about …

Exclusion Does Not Exclude Coverage for Condo in Nashville Christmas Bombing

The insurance fallout from the Christmas Day 2020 bombing in downtown Nashville continues, with a federal court deciding this week that Aspen Specialty Insurance must cover millions in replacement costs for a heavily damaged condominium building. The insurer in 2021 …

Tropical Storm Alberto to Bring Flooding to Coastal South Texas

Tropical storm Alberto has caused flooding and more than three feet of storm surge in parts of coastal south Texas but is not expected to strengthen to hurricane force, meteorologists say. Alberto is the first named storm of the 2024 …

Research Shows How Underwater Fault Could Devastate West Coast with Major Quake and Tsunami

New research is warning about an underwater fault that could devastate the West Coast with a major earthquake and tsunami. Seismologists have issued warnings that the Cascadia Subduction Zone, an offshore fault from British Columbia to Northern California, for decades. …

Potent Hurricane Weather Pattern Continues to Take Shape, Forecaster Says

The hurricane season continues to look like it will be a highly active one, as a potent and portentous weather pattern continues to take shape, an AccuWeather meteorologist told Claims Journal on Friday. “It certainly looks like it’s going to …