AAIS (American Association of Insurance Services), the only national not-for-profit insurance advisory organization, today announced a new partnership with Munich Reinsurance America, Inc. (Munich Re), one of the world’s largest reinsurers, that will focus on improving flood insurance for U.S. homeowners. As the risk of flood continues to rise in the U.S., so too does… Continue reading AAIS and Munich Re Partner to Help Close the Flood Insurance Gap in the U.S.
Tag: flood insurance
Chubb Appoints Industry Veteran to Lead Flood Insurance Practice
Chubb announced that Louis Hobson has joined the company as Senior Vice President of Flood Insurance for its North America operations. In this new role, Mr. Hobson will work in conjunction with Chubb’s personal and commercial lines of business, and lead efforts centered on the development and implementation of strategies to further broaden the delivery… Continue reading Chubb Appoints Industry Veteran to Lead Flood Insurance Practice
Fire and Hail Push Insurers to Rethink Climate Change Risks
By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in California’s Capay Valley had burned both his tractor and the shipping container where he kept some tools. His insurer is set to pay out a sixth of his losses. He is now considering widening his coverage in… Continue reading Fire and Hail Push Insurers to Rethink Climate Change Risks
‘Worse than Harvey’: Small Houston-Area Town Floods in Imelda Aftermath
Hundreds of people have been rescued from their homes in Chambers County as floodwaters from the aftermath of Tropical Storm Imelda — which officials fear may be “worse than Harvey” — continued on Thursday to inundate the region, where authorities were also forced to evacuate a hospital. Ryan Holzaepfel, Chambers County’s fire marshal, said that… Continue reading ‘Worse than Harvey’: Small Houston-Area Town Floods in Imelda Aftermath
Report: FEMA Post-Flood Home Buyouts Take 5+ Years To Complete After Waters Recede
In the aftermath of Hurricane Dorian churning up the eastern seaboard, leaving destructive flood waters in its wake, a new national report describes FEMA policies creating a nightmare for disaster survivors deciding what to do with destroyed or damaged homes. For those who want to move out of a flood zone, the wait time for… Continue reading Report: FEMA Post-Flood Home Buyouts Take 5+ Years To Complete After Waters Recede
Imelda Hits Texas with ‘Catastrophic Flooding’; Hundreds in Need of Rescue
Tropical Depression Imelda continued to deluge southeast Texas on Thursday, pounding some areas with up to 35 inches of rain and causing devastating flooding that shut down highways, forced chaotic evacuations and left stranded residents waiting for rescue by boat. The storm, which passed over Houston on Wednesday, slammed the area around Beaumont, Tex., overnight,… Continue reading Imelda Hits Texas with ‘Catastrophic Flooding’; Hundreds in Need of Rescue
Climate Change Poses Major Risk to Flood Insurance Program, Experts Warn
Environmental experts last week warned House lawmakers about risks to the National Flood Insurance Program (NFIP) posed by climate change, saying the situation is likely to worsen in the coming years. The hearing, hosted by the Financial Services Subcommittee on National Security, International Development and Monetary Policy, focused on the macroeconomic effects from climate change… Continue reading Climate Change Poses Major Risk to Flood Insurance Program, Experts Warn
AXA XL and Neptune Flood Insurance Partner to Expand Private Residential Flood
AXA XL, a division of AXA, and Neptune Flood, the first all-digital flood insurance Program Administrator, have entered a strategic underwriting partnership intent on expanding Neptune Flood Insurance’s capacity to homeowners throughout the US. According to Chris Bressette, Senior Vice President and Head of AXA XL’s North America Program business, “Private Residential Flood Insurance in… Continue reading AXA XL and Neptune Flood Insurance Partner to Expand Private Residential Flood
After the Hurricane, Dealing with Insurance Claims
As Hurricane Dorian churned north this week, residents along the Atlantic coast were preparing to assess the possible damage to their homes, and to determine what their insurance policies will cover. Homeowners whose properties were affected by the storm should act as quickly as feasible to take stock of the extent and likely cause of… Continue reading After the Hurricane, Dealing with Insurance Claims
Insured Losses for Hurricane Dorian in the Caribbean between $1.5B and $3B: Air Worldwide
Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses resulting from Hurricane Dorian’s impact to the Caribbean will range from USD 1.5 billion to USD 3 billion. AIR Worldwide is a Verisk business. According to AIR, Hurricane Dorian made landfall on St. Thomas on August 28 as a Category 1 hurricane. Dorian then… Continue reading Insured Losses for Hurricane Dorian in the Caribbean between $1.5B and $3B: Air Worldwide