Flooding and severe convective storm (SCS) activity across the central and southern US between April 6th and 11th caused some notable property damage, with total economic and insured losses potentially in the hundreds of millions of dollars or higher, according to insurance and reinsurance broker Aon.
Tag: flood insurance
Explosive Atlantic Hurricane Season Predicted for 2024: AccuWeather
The Atlantic hurricane season officially gets underway on June 1 and runs through the end of November, and AccuWeather’s team of long-range forecasters say now is the time to prepare for a frenzy of tropical systems. There are signs that the first named system could spin up before the season kicks off as the calendar flips to June, a precursor of what’s to come.
In Florida, Skyrocketing Insurance Rates Test Resolve of Homeowners in Risky Areas
In the last seven years Florida has weathered five major hurricanes. Michael, which made landfall in 2018 in the Panhandle, was the first category 5 hurricane to strike the continental United States since Andrew in 1992. Ian, in 2022, was the costliest hurricane in state history and third-costliest on record nationwide, after Katrina in 2005 and Harvey in 2017. Recent major Florida hurricanes also include Irma in 2017, Nicole in 2022 and Idalia in 2023.
Flood Damage Raises Alarms About California’s Next ‘Disaster Insurance Gap’
Homes once prized for hillside views and apartment complexes on low-lying urban streets alike are increasingly under threat from severe flooding, mudslides and heavy winds.
Lacking Flood Insurance Can Lead to Property Risks and Unexpected Costs
Recent U.S. hurricane activity and severe flooding from coast to coast have amplified the cost of being uninsured, and just because it hasn’t previously flooded in an area doesn’t mean that it can’t happen.
New Legal Claims Against San Diego Over January Flooding Seek Class-Action Status
The ramifications of the flooding that drove hundreds of people from their homes and caused millions of dollars in damage last month continue to swamp San Diego City Hall.
Vast Majority of California Flood Victims’ Losses Won’t Be Covered by Insurance
Many victims of the massive storms now battering Southern California about are to be hit with another heartbreak – discovering their insurance won’t cover the damage.
Los Angeles Hit by Mudslides, Flooding as Atmospheric River Persists
A turbocharged atmospheric river continued to lash Los Angeles early Tuesday, where officials warned further rainfall on already saturated ground would trigger more dangerous mudslides and flash flooding.
FEMA Transfers $619.5M in 2024 Flood Risk to Reinsurers
The Federal Emergency Management Agency will pay $121.1 million to transfer $619.5 million of flood risk to the private reinsurance market, FEMA said in a statement.
New Study: People Are Leaving Some Neighborhoods Due to Floods
Hundreds of thousands of neighborhoods in the United States are seeing population decline as a result of flooding, new research suggests. Those neighborhoods are often located in areas that are growing in population overall, including parts of Florida, Texas and the region around Washington, D.C.