Residents of three Massachusetts communities were allowed to return to their homes on Sunday for the first time since a series of gas explosions killed one man and set dozens of buildings on fire. Natural gas leaks, believed to have been caused by over-pressurized lines, on Thursday triggered a series of explosions and fires in… Continue reading Massachusetts Residents Cleared to Return to Areas Hit by Gas Explosions
Tag: homeowners insurance
Fewer Households in Hurricane Florence’s Path Have Flood Insurance than in 2013
Fewer homeowners in North and South Carolina own flood insurance than five years ago, signaling many won’t have access to ready cash if they need to rebuild after Hurricane Florence. Standard homeowners’ insurance policies typically cover damage from fire and other storm-related events. But they exclude storm surge and other flooding damage—and wind damage, in… Continue reading Fewer Households in Hurricane Florence’s Path Have Flood Insurance than in 2013
CoreLogic: Hurricane Florence Could Unleash Storm Surge Damage on Nearly 759,000 Homes in the Carolinas and Virginia
CoreLogic® a leading global property information, analytics and data-enabled solutions provider, today released data analysis showing 758,657 homes in North Carolina, South Carolina and Virginia with a reconstruction cost value (RCV) of approximately $170.2 billion are at potential risk of storm surge damage from Hurricane Florence based on its Category 4 status. Current projections show… Continue reading CoreLogic: Hurricane Florence Could Unleash Storm Surge Damage on Nearly 759,000 Homes in the Carolinas and Virginia
Hurricane Florence Heads Toward Southeastern U.S.
A tropical storm that has been churning in the Atlantic for a week regained hurricane strength Sunday and was headed toward the Southeastern U.S., the National Hurricane Center said. While it was too soon to project Hurricane Florence’s precise trajectory and timing, forecasters said areas from South Carolina up through Virginia should prepare for the… Continue reading Hurricane Florence Heads Toward Southeastern U.S.
California 2018 Fire Insurance Claims Top $845 Million
California Insurance Commissioner Dave Jones today announced that insured residential and commercial losses from the Carr and Mendocino Complex fires top $845 million and are now counted among the most destructive wildfires in the state’s history. The insurance commissioner also provided an update on the insured losses from the 2017 wildfires and 2018 Montecito mudslides… Continue reading California 2018 Fire Insurance Claims Top $845 Million
California Customers Could Foot the Bill for Billions in Wildfire Liability Costs
A last-minute measure by California lawmakers to rescue the state’s largest utility from a potential bankruptcy sets up a contentious process whereby its customers could foot the bill for billions in liability costs it faces following the state’s catastrophic 2017 wildfires. The bill passed Friday night in the final hours of California’s legislative session would… Continue reading California Customers Could Foot the Bill for Billions in Wildfire Liability Costs
Do Amazon and Google Pose a Threat to Homeowners Carriers?
Amazon has made no secret of its intent to disrupt virtually every industry on the planet, most recently announcing a partnership with JPMorgan Chase and Berkshire Hathaway to create an independent healthcare company. Reportedly, the retail giant has also begun to explore the idea of setting up an insurance price comparison site in the UK.… Continue reading Do Amazon and Google Pose a Threat to Homeowners Carriers?
Verizon Apologizes for Throttling Fire Department’s Data During Wildfire
Verizon on Friday apologized for throttling the data speeds for a fire department as it was battling the largest recorded wildfire in California’s history. “In supporting first responders in the Mendocino fire, we didn’t live up to our own promise of service and performance excellence when our process failed some first responders on the line,… Continue reading Verizon Apologizes for Throttling Fire Department’s Data During Wildfire
AIR Worldwide Updates Insured Loss Estimates for California Wildfires
Catastrophe modeling firm AIR Worldwide announced that it has updated its loss estimates for the recent California Wildfires after analyzing findings from its damage survey conducted during the week of October 30, along with newly acquired information about policy terms, and a re-examination of the replacement values of high-value homes within its industry exposure database… Continue reading AIR Worldwide Updates Insured Loss Estimates for California Wildfires