property insurance News

Hurricane Francine Losses Expected to be Manageable for Insurers

Losses from Hurricane Francine are expected to be manageable for property/casualty insurers, with major population centers sparred from the worst of the storm’s damage. Privately insured loss from Hurricane Francine are estimated to be close to $1.5 billion, catastrophe modeler …

A Continent Ablaze: South America Surpasses Record for Fires

South America is being ravaged by fire from Brazil’s Amazon rainforest through the world’s largest wetlands to dry forests in Bolivia, breaking a previous record for the number of blazes seen in a year up to Sept. 11. Satellite data …

Estimates Put U.S. Damage and Loss from Francine at $9B with $1.5B in Insured Losses

A preliminary estimate shows total damage and economic loss from Hurricane Francine in the U.S. is expected to be $9 billion. The storm effects are continuing to be felt, and some areas have yet to report complete information about damage, …

Francine Knocks Out Power to Hundreds of Thousands in South

Francine knocked out power to more than 400,000 homes and businesses and canceled hundreds of flights across the US South after coming ashore as a hurricane. The storm has weakened to a tropical depression with winds of 35 miles (55 …

Red Lobster Landlord Sues Insurer to ‘Clawback’ $1.2M Fire Claim Payment

The landlord for a fire-damaged building leased to a Red Lobster restaurant is blaming the restaurant’s insurer for causing it to lose out on $1.2 million in fire insurance claims payments to repair the property. RL New Brunswick Owner LLC, …

15 Feet of Storm Surge Possible When Francine Hits Gulf Coast, 125K Homes at Risk

One forecast calls for Francine to intensify into a Category 2 hurricane in the next 24 hours before hitting the Louisiana coast with storm surge of up to 15 feet, while a catastrophe modeler says the surge could cause flooding …

In the Dark: Telling The Truth About Flooding Requires Accurate Maps and Strong Disclosure Laws

Hundreds of thousands of Americans already live in homes that have repeatedly flooded. To get a good handle on the extent of those losses, check out the Federal Emergency Management Agency’s web page that hosts an extensive dataset with information …

Storm Surge and Flooding Threaten as Francine Approaches U.S. Gulf Coast

Meteorologists say Francine could produce life-threatening storm surge and dangerous flash flooding across parts of coastal Louisiana, Texas and Mississippi as it approaches the Gulf Coast. AccuWeather meteorologists say the shallow continental shelf makes the Gulf coast “extremely vulnerable to …

Storm Forming in Gulf of Mexico Forecast to Hit U.S. as Hurricane

A tropical storm forming in the southwestern Gulf of Mexico is threatening to unleash powerful winds and heavy rain as it makes its way toward the US where it will likely hit Wednesday as a hurricane. The system already has …

Fast-Growing California Wildfire Threatening 35,000 Structures

A fast-growing wildfire in Southern California, has burned 27 square miles, forcing thousands to evacuate had is putting roughly 35,000 homes and buildings at risk. The Line fire near San Bernardino more than quadrupled in size over the weekend, prompting …