Issuance of catastrophe bonds just hit a record high, as the market braces for a rough hurricane season with the potential to do substantial damage. Sales of so-called cat bonds are 38% higher this year through May than over the …
Oregon utility regulators have rejected a request from PacifiCorp that sought to limit its liability in wildfire lawsuits. Under the proposal, PacifiCorp would only have been responsible for paying out actual economic damages in lawsuit awards. The company submitted the …
Kansas storm claims totaled nearly half a billion dollars in 2023. According to numbers shared by the state’s department of insurance, 147,710 claims totaling $442.8 million were paid last year. The Kansas Department of Insurance collected this data from all …
The California Supreme Court has resolved a question about insurance coverage for COVID-19 business shutdowns in the issue of a virus exclusion in a ruling that is consistent with the vast majority of courts nationwide: the presence of the virus …
More than 32.7 million residential properties are at risk of moderate or severe damage sustained from hurricane-force winds from Texas to Maine, a new report shows. The large number of at-risk homes in CoreLogic’s 2024 Hurricane Risk Report, which comes …
More than half a million electricity consumers are still without power in Texas and over one thousand flights were canceled after powerful storms charged along the Rio Grande late Tuesday. Across parts of Texas, and mostly in the east, 500,789 …
Nearly 11 million people in the heart of Texas, including Austin, Fort Worth and Dallas, face an enhanced threat of severe thunderstorms on Tuesday, the US Storm Prediction Center said. The systems bring the “potential for significant damaging wind and …
The National Oceanic and Atmospheric Administration is predicting an 85% chance of an above-average Atlantic hurricane season, with up to 25 named storms. “The upcoming Atlantic hurricane season is expected to have above-normal activity due to a confluence of factors, …
The number of U.S. consumers who shopped for auto insurance in rose in the first quarter, largely driven by consumers in the West and Midwest. The findings show a continuation of strong growth in shopping at the end of last …
There is a moderate risk — the second highest — of severe thunderstorms across parts of Iowa, Illinois, Wisconsin and Missouri affecting more than 3.8 million people, the US Storm Prediction Center said. “All severe hazards will be possible including …