Florida’s beleaguered property insurance market is starting to look normal again, with the top insurers in the state showing a collective profit for the first time in seven years, S&P Global Market Intelligence reported this week. The turnaround for 2023 …
Louisiana Insurance Commissioner Tim Temple expects lawmakers to allocate at least $20 million to the Lousiana Fortify Homes Program during the legislative session that begins on Monday. The funds would applied to the program for use in the next fiscal …
Industry rating agency AM Best said the U.S. property/casualty industry’s underwriting loss for 2023 reached a 10-year high of $38 billion, attributable to severe weather-related losses, stubborn inflation, and upward reinsurance pricing. Analysts in the report published yesterday found that …
Eleven tornadoes were reported across the Midwest, with five coming in Illinois, four in Ohio and two in Michigan, the US Storm Prediction Center said as of 7 a.m. New York time. In addition, there were 36 instances of high …
As the best hedge fund strategy of 2023 becomes a magnet for mainstream investors, the risk models it relies on are getting a lot tougher to crack. The strategy in question is tied to insurance-linked securities, which are dominated by …
Last year saw 141 days with large hail (2 inch or greater)—the highest number of days in 20 years, according to a new report by CoreLogic. The 2024 Severe Convective Storm Report details how severe thunderstorm risk is growing in …
Allstate Corp. on Thursday reported January pretax catastrophe losses of $276 million. The Northbrook, Illinois-based insurer reached its $150 million threshold to report catastrophe losses following several months of low totals. Consolidated catastrophe losses for the fourth quarter 2023 totaled …
California’s flood threat isn’t over even as the storm currently battering the state whirls its way across the US West. The US Climate Prediction Center said there is the potential for more heavy rain and snow across Southern California and …
ST. LOUIS (AP) — Flooding is driving millions of people to move out of their homes, limiting growth in some prospering communities and accelerating the decline of others, according to a new study that details how climate change and flooding …
EL BOSQUE, Mexico (AP) — People moved to El Bosque on the Gulf of Mexico in the 1980s to fish and build a community. Then climate change set the sea against the town. Flooding driven by some of the world’s …