Hurricanes almost always set off an orchestrated dance on Wall Street before they make landfall, with shares of property and casualty insurance companies dumped in favor of companies that sell construction supplies or portable generators. That routine began a week ago, though Hurricane Florence appears to be turning up the volume this time. The last… Continue reading To Prep for Hurricane Florence, Investors Sell Off Insurers
Tag: cat coverage
Insurers Expect Significant Loss of Income Claims from Florence as Businesses Shut Down
Days before Hurricane Florence is expected to slam into the U.S. East Coast, insurers are starting to see potential claims costs tick upward as people flee and companies halt operations. Evacuations, already affecting more than 1 million people in and around North Carolina, start the clock ticking on business-interruption insurance policies, which help replace lost… Continue reading Insurers Expect Significant Loss of Income Claims from Florence as Businesses Shut Down
East Coast Preps for the “Storm of a Lifetime” As Florence Heads for the Carolinas
Hurricane Florence, heading for the Carolinas, “will likely be the storm of a lifetime” for areas of the coast, according to the National Weather Service early Wednesday. The Category 4 storm was expected to start hitting the North and South Carolina coasts sometime Thursday or Friday, and should make landfall near Wilmington, N.C., early Saturday… Continue reading East Coast Preps for the “Storm of a Lifetime” As Florence Heads for the Carolinas