CoreLogic found that from Texas to Maine, more than 32.7 million residential properties are at risk of moderate or severe damage sustained from hurricane-force winds.
Tag: hurricane damage
Insurance Price Tag from Hurricane Ian Estimated at Up to $47B: CoreLogic
CoreLogic®, a leading global provider of property information, analytics, and data-enabled solutions, released residential and commercial wind and storm surge loss estimates for Hurricane Ian today. Wind losses for residential and commercial properties in Florida are expected to range between $22 billion and $32 billion, according to this new data analysis. Storm surge insurance claims… Continue reading Insurance Price Tag from Hurricane Ian Estimated at Up to $47B: CoreLogic
Supply Chain Challenges Will Complicate Rebuilding Efforts after Ian
The difficult task of rebuilding communities devastated by Hurricane Ian is expected to be exacerbated by a problem that has persisted since the pandemic’s inception: clogged supply chains. After landing as one of the strongest storms to hit the United States, Ian wreaked havoc across Florida, knocking out power to more than 2 million homes… Continue reading Supply Chain Challenges Will Complicate Rebuilding Efforts after Ian
Dorian Is Exposing an Insurance Gap in the Bahamas
The vast majority of damage caused by Hurricane Dorian to the Bahamas and other Caribbean countries is unlikely to be covered by insurance, which could slow recovery in the region. The storm ravaged the Bahamas as a Category 5 storm Sunday and Monday. It killed at least five people and destroyed thousands of homes. Dorian… Continue reading Dorian Is Exposing an Insurance Gap in the Bahamas
March to 5G Could Trample Hurricane Tracking, Scientists Warn
Satellites tracking water vapor in 2012 helped scientists accurately predict Superstorm Sandy’s frightening turn toward New York and New Jersey where it killed dozens of people and inflicted billions of dollars in damage. But now scientists are warning that their precision tracking of hurricanes could be disrupted by signals from the new generation of wireless… Continue reading March to 5G Could Trample Hurricane Tracking, Scientists Warn
7.3 Million Homes at Risk of 2019 Hurricane Storm Surge Damage: CoreLogic Report
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its 2019 CoreLogic Storm Surge report, which shows more than 7.3 million single- and multifamily homes along the Gulf and Atlantic Coasts have the potential for storm surge damage, with a total estimated reconstruction cost value (RCV) of nearly $1.8 trillion. Early… Continue reading 7.3 Million Homes at Risk of 2019 Hurricane Storm Surge Damage: CoreLogic Report
Climate Change Making East Coast Vulnerable to Most Terrifying Hurricanes, Study Says
Climate change is making the east coast more vulnerable to rapidly intensifying hurricanes as storm-thwarting wind shear is reduced over the region, according to a study published this month in the journal Nature. The research builds on 2017 findings that a bubble of cooler ocean temperatures and lofty crosswinds protects the east coast when hurricanes… Continue reading Climate Change Making East Coast Vulnerable to Most Terrifying Hurricanes, Study Says
Munich Re to Deploy High-Res Imagery, AI for Faster Hurricane Claim Payments
New methods currently being explored by global reinsurance giant Munich Re could see hurricane victims receive claim payments on their damaged properties in the time it takes them to return to their homes, according to reports from German newspaper Handelsblatt. Artificial Intelligence (AI) will play a key role in enabling this rapid response time, Munich… Continue reading Munich Re to Deploy High-Res Imagery, AI for Faster Hurricane Claim Payments
That Time Trump Got $18.3 Million in Palm Beach: Opinion
A series of hurricanes tore through Florida in 2005, and Mar-a-Lago, President Donald Trump’s business and residence in Palm Beach, was apparently very beaten up because Trump collected about $18.3 million in insurance payments from Aon PLC that year. When my attorney asked Trump during a 2007 deposition if he ever plowed all of those… Continue reading That Time Trump Got $18.3 Million in Palm Beach: Opinion
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