SageSure and Goosehead today announced the launch of the new reciprocal exchange Elevate to protect homeowners in coastal states.
Tag: catastrophe insurance
Tropical Storm Nicole Heading for Florida as Category 1 Hurricane
Tropical Storm Nicole is expected to strengthen as it approaches Florida on Tuesday and Wednesday.
Tornadoes in TX, OK Destroy Homes, Buildings
Residents in southeastern Oklahoma and northeastern Texas began assessing weather damage Saturday after a storm spanning from Dallas to northwest Arkansas spawned tornadoes and flash flooding.
Florida Cat Fund Could See $10B in Losses from Hurricane Ian
Officials estimate that Hurricane Ian caused $10 billion in losses to the Florida Hurricane Catastrophe Fund.
CA’s Catastrophic Wildfires in 2020 Erased 20 Years of Greenhouse Gas Emission Reductions
According to a new study, California’s catastrophic wildfires in 2020 released twice as much greenhouse gas emissions into the atmosphere as the state’s reductions in those same gases over nearly 20 years, erasing gains dating back to 2003. According to the researchers, it is part of a very negative positive feedback loop. “Climate change is… Continue reading CA’s Catastrophic Wildfires in 2020 Erased 20 Years of Greenhouse Gas Emission Reductions
Swiss Re Forecasts 3Q Loss Following Hurricane Ian Claims
Swiss Re forecast a third-quarter net loss of around $500 million on Tuesday, after the reinsurance company absorbed $1.3 billion in preliminary claims from Hurricane Ian. “While the 2022 Group ROE target of 10% is unlikely to be met given the impact of natural disasters, the Ukraine war, and financial market volatility,” the reinsurer said… Continue reading Swiss Re Forecasts 3Q Loss Following Hurricane Ian Claims
Are Historic Homes More Resilient Against Floods?
When historic homes flood, building contractors are frequently compelled by government regulations to remove the water-logged wood flooring, demolish the old plaster walls, and replace them with new, flood-resistant materials. It’s a hurried approach that’s likely to be seen throughout southwest Florida in the aftermath of Hurricane Ian. However, restorers Paige Pollard and Kerry Shackelford… Continue reading Are Historic Homes More Resilient Against Floods?
Hurricane Ian Will Significantly Impact Wind-Exposed States: MarketScout
Following Hurricane Ian, MarketScout CEO Richard Kerr stated that the storm loss event will have “significant” implications for property rates in Florida and other wind-prone states in the United States. According to MarketScout’s analysis of commercial insurance market rates during the third quarter of 2022, property rates in coastal areas are now expected to rise… Continue reading Hurricane Ian Will Significantly Impact Wind-Exposed States: MarketScout
Devastation in Florida from Ian: Death, Destruction, Darkness
At least 21 people died in Florida after Hurricane Ian made landfall Wednesday, according to Florida officials, who warned that the toll could rise. According to Kevin Guthrie, director of the Florida Division of Emergency Management, the state confirmed one death in Polk County caused by the storm surge or rising water levels on Friday.… Continue reading Devastation in Florida from Ian: Death, Destruction, Darkness
Florida’s Already Fragile Property Insurance Market to Incur Billions in Losses Post Ian
Hurricane Ian could be among the costliest in US history. According to Chuck Watson of Enki Research, the massive storm tearing through parts of Florida at 150 mph is expected to cause $30 billion to $60 billion in damages and economic losses. The insurance industry is looking at a loss of $20 billion at the… Continue reading Florida’s Already Fragile Property Insurance Market to Incur Billions in Losses Post Ian