Hurricane Michael’s devastation could spur policymakers to better prepare vulnerable communities for the effects of climate change. The images of entire towns in Florida’s panhandle all but erased by storm surges, as well as accounts of bodies pulled from shattered homes, offer potent evidence of the need to rethink how and where Americans build homes,… Continue reading Devastating Storms May Spur Action on Disaster Preparation
Tag: flood insurance
After Hurricane Michael, Residents Determined to Rebuild Shattered City
Half of Natalie Shoaf’s home is gone and it is unclear when water or power service will be restored, but she plans to rebuild in this place she calls “small-town U.S.A. on the water.” Days after Hurricane Michael turned this beachside community into a wreckage-strewn disaster, the longtime resident and others are talking about how… Continue reading After Hurricane Michael, Residents Determined to Rebuild Shattered City
FEMA Administrator Slams Failures to Carry Insurance, Prepare & Evacuate Before Storms
Federal Emergency Management Agency Administrator Brock Long angrily criticized the failure of citizens to heed evacuation warnings and leaders to better prepare for natural disasters such as Hurricane Michael. “It’s frustrating to us because we repeat this same cycle over and over again,” Long said during a press briefing Friday at FEMA headquarters in Washington.… Continue reading FEMA Administrator Slams Failures to Carry Insurance, Prepare & Evacuate Before Storms
Michael Will Cost Insurers Billions, But Won’t Overwhelm Industry, Analysts Say
Analysts are estimating that Hurricane Michael has caused billions of dollars of damage and will create a substantial loss for insurers, but the industry is expected to cope — once again avoiding the kind of meltdown that Florida saw in the 1990s, after Hurricane Andrew. It’s still too early for a full accounting of the… Continue reading Michael Will Cost Insurers Billions, But Won’t Overwhelm Industry, Analysts Say
Florida Panhandle Building Codes Lagged Behind Rest of State
It was once argued that the trees would help save Florida’s Panhandle from the fury of a hurricane, as the acres of forests in the region would provide a natural barrier to savage winds that accompany the deadly storms. It’s part of the reason that tighter building codes — mandatory in places such as South… Continue reading Florida Panhandle Building Codes Lagged Behind Rest of State
Florida Freezes Insurance Rates for 90 Days After Michael
Gov. Rick Scott on Sunday directed the state’s top insurance regulator to freeze any potential property-insurance rate increases for 90 days as homeowners and businesspeople grapple with massive damage from Hurricane Michael. Scott also directed Insurance Commissioner David Altmaier to require rescinding for 90 days all policy non-renewals or cancellations that had been issued in… Continue reading Florida Freezes Insurance Rates for 90 Days After Michael
Hurricane Michael to Test Florida’s Unique Insurance Market
Much of the damage to homes from Hurricane Michael will be paid by an array of small, little-known insurers, backed up by larger reinsurance companies around the globe. Florida is an oddball insurance market for homeowners, where household-name companies like State Farm and Allstate Corp. don’t have the outsize roles they do in other states.… Continue reading Hurricane Michael to Test Florida’s Unique Insurance Market
The Rising Costs of Hurricanes
Counties along the U.S. shoreline that endured hurricane-strength winds from Florence in September experienced a surge in population from 1980 to 2017, with an increase of 95 people per square mile—more than double the density. Overall, Gulf and East Coast shoreline counties, those vulnerable to hurricane strikes, increased by 160 people per square mile, compared… Continue reading The Rising Costs of Hurricanes
InsureMyTrip Can Now Predict What Travel Insurance Is Right for Travelers During Hurricane Season
InsureMyTrip can now predict which travel insurance plans are most appropriate and relevant for those traveling during hurricane season (June 1 – November 30) to storm-prone destinations. The groundbreaking recommendation engine automatically filters thousands of options, enabling travelers to find the right travel insurance plan roughly 10x faster than comparing quotes manually online. This latest… Continue reading InsureMyTrip Can Now Predict What Travel Insurance Is Right for Travelers During Hurricane Season
Hurricane Michael Wind & Surge Insured Loss Up to $4.5B: Corelogic
The wind and storm surge related insurance industry loss from hurricane Michael is estimated to be between $2 billion and $4.5 billion by Corelogic, based on a pre-landfall data assessment of the storms impacts to insured assets. Hurricane Michael made landfall in the Florida Panhandle earlier today as a strong Category 4 hurricane with sustained… Continue reading Hurricane Michael Wind & Surge Insured Loss Up to $4.5B: Corelogic