Hurricane Florence, heading for the Carolinas, “will likely be the storm of a lifetime” for areas of the coast, according to the National Weather Service early Wednesday. The Category 4 storm was expected to start hitting the North and South Carolina coasts sometime Thursday or Friday, and should make landfall near Wilmington, N.C., early Saturday… Continue reading East Coast Preps for the “Storm of a Lifetime” As Florence Heads for the Carolinas
Tag: property insurance
To Prep for Hurricane Florence, Investors Sell Off Insurers
Hurricanes almost always set off an orchestrated dance on Wall Street before they make landfall, with shares of property and casualty insurance companies dumped in favor of companies that sell construction supplies or portable generators. That routine began a week ago, though Hurricane Florence appears to be turning up the volume this time. The last… Continue reading To Prep for Hurricane Florence, Investors Sell Off Insurers
East Coast Bracing for Massive Hurricane as More than 1 Million Face Mandatory Evacuation
Hurricane Florence has potential to cause “massive damage” to parts of the southeastern and mid-Atlantic United States — and not just in the coastal areas where the storm aims to make landfall Thursday night, officials warned. More than 1 million people face mandatory evacuation orders Tuesday in coastal areas of Virginia, North Carolina and… Continue reading East Coast Bracing for Massive Hurricane as More than 1 Million Face Mandatory Evacuation
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
CA Gov. Brown Signs Bill To Provide Property Replacement Cost Estimates Every Other Year
Gov. Jerry Brown of California on Monday signed a bill that protects homeowners whose property may be underinsured. AB 1797 by Assemblyman Marc Levine, D-Marin County, requires companies writing residential property insurance to conduct a replacement cost estimate every other year. The legislation will ensure policyholders are covered with current and timely estimates that reflect… Continue reading CA Gov. Brown Signs Bill To Provide Property Replacement Cost Estimates Every Other Year