property insurance News

Viewpoint: Elevating Claims Management by Taking Collaborative Approach With Clients

Over the last 20 years, the role of the claims handler has evolved significantly, from a largely back-office function to one centred around partnership and mutual benefit. In today’s market, claims is now at the forefront of client-insurer relationships, playing …

AccuWeather Increases Total Damage and Economic Loss Estimate From Helene to Between $225B-$250B

AccuWeather has increased its estimate of the total damage and economic loss from Hurricane Helene in the U.S. to between $225 billion and $250 billion. The update accounts for new verified information, including the loss of life, the immediate and …

Modeler KCC Puts Privately Insured Losses at $6.4B From Helene

Privately insured losses from Hurricane Helene will be about $6.4 billion from wind, storm surge and inland flooding in nine states, according to Karen Clark & Co., a well-regarded storm modeling and analytics firm. The figure includes residential, commercial and …

Maui Fire Caused by Broken Power Lines, County and US Find

The fire that razed the historic Maui town of Lahaina last year was caused when Hawaiian Electric Industries Inc. re-energized broken utility lines that caused sparks to ignite unmaintained dry vegetation, the Maui Fire Department said. The blaze was a …

American Dams Weren’t Built for Today’s Climate-Charged Rain and Floods

As flooding hammered Appalachia in the aftermath of Hurricane Helene, residents became intimately familiar with a new norm in the US’s post-storm script: dams at imminent risk of failing. Officials last week said multiple dams were on the brink, including …

Biden to Deploy 1,000 Troops to Aid North Carolina After Helene

President Joe Biden said he directed the Pentagon to send up to 1,000 active duty troops to help with recovery operations in North Carolina ahead of a trip to one of the states hardest hit by Hurricane Helene to survey …

State Farm, Citizens Brace for Losses From Hurricane Helene

State Farm General Insurance Co. and Citizens Property Insurance Corp. are bracing for the insurance industry’s largest losses from damage caused by Hurricane Helene, which is quickly becoming one of the costliest storms in U.S. history. State Farm was the …

Hurricane Helene Halts Poultry Plants, Damages Cotton Crops

Hurricane Helene has halted chicken processing plants and caused severe damage to some flocks, while also downing pecan trees and flattening cotton crops, as floodwaters swamped the southern U.S. Every commodity was impacted, with cotton, pecans, poultry and timber the …

AccuWeather Puts Total Damage and Economic Loss From Helene at $145B to $160B

AccuWeather increased its estimate of the total damage and economic loss from Hurricane Helene to between $145 billion and $160 billion. This update is an increase from AccuWeather’s preliminary estimate late last week of total damage and economic loss of …

Helene Unleashes Floods and Knocks out Power to Millions

Tropical Storm Helene is triggering dangerous rain and flooding across the US South, where it has killed at least six people and cut power to over 4 million customers after coming ashore in Florida as a major hurricane. More than …