At least 21 people died in Florida after Hurricane Ian made landfall Wednesday, according to Florida officials, who warned that the toll could rise. According to Kevin Guthrie, director of the Florida Division of Emergency Management, the state confirmed one death in Polk County caused by the storm surge or rising water levels on Friday.… Continue reading Devastation in Florida from Ian: Death, Destruction, Darkness
Tag: property insurance
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
Will All Floridians Have to Pay for Ian’s Destruction if Insurance Falls Short?
South Florida may be spared a direct hit from Hurricane Ian, but insurance customers in the region and across the state may be forced to help pay the bill if the storm causes significant damage along its final path. While it is too early to predict how much damage the storm will cause, industry analysts… Continue reading Will All Floridians Have to Pay for Ian’s Destruction if Insurance Falls Short?
Nineteen Large Fires in Washington State and Oregon Prompt Evacuation Orders
On Sunday, wildfires raged across Oregon and Washington state, prompting officials to order evacuations in some areas and electric utilities to turn off power to thousands of customers for safety. There were 19 large fires in the two states, encompassing more than 295,000 acres as of Sunday, according to the Northwest Interagency Coordination Center, which… Continue reading Nineteen Large Fires in Washington State and Oregon Prompt Evacuation Orders
Four Western States and Florida Are at Most Risk for Wildfire Damages in 2022: CoreLogic Reports
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its annual Wildfire Report for 2022, which examines property-related wildfire risk alongside reconstruction resource availability, temporary housing capacity for displaced individuals, and community economic recovery potential among fire-prone regions. The report tracks wildfire risks in 15 Western U.S. states and Florida. Wildfires… Continue reading Four Western States and Florida Are at Most Risk for Wildfire Damages in 2022: CoreLogic Reports
Climate Change Has Increased Likelihood of a Megaflood in California
As California battles wildfires and severe drought, the threat of flooding may appear to be an unlikely cause for concern. A new study, however, warns that the state could be hit by a “megaflood” in the not-too-distant future, potentially putting millions at risk across the state. The study, published in Sciences Advances on Friday, discovered… Continue reading Climate Change Has Increased Likelihood of a Megaflood in California
Median Organic Growth Levels Reach Double Digits for Independent Agents & Brokers
Good news never gets old. According to a Reagan Consulting survey, independent insurance agents and brokers experienced their fifth consecutive quarter of record-breaking organic growth. Their median organic growth reached double digits for the first time in the nearly 15-year history of the firm’s Growth & Profitability Survey, reaching 10.2% in the second quarter of… Continue reading Median Organic Growth Levels Reach Double Digits for Independent Agents & Brokers
Aon Collaborates with the University of California to Enhance Wildfire Modeling
Aon plc, a leading global professional services firm, today announced a new collaboration between its Impact Forecasting team, the University of California, Merced and the University of California, Los Angeles to implement the latest climate change science and research into Aon’s U.S. wildfire catastrophe model. The collaboration includes research from some of the nation’s top… Continue reading Aon Collaborates with the University of California to Enhance Wildfire Modeling
Year-Round Wildfire Season Forcing Businesses to Think Ahead
Wildfires are becoming a year-round challenge for businesses across the country, but companies can take proactive steps, from scenario planning to site design, to reduce the risks they face, according to experts. Every state except Delaware experienced wildfires last year, and experts predict an above-average season this year as well, according to Richard Standring, a… Continue reading Year-Round Wildfire Season Forcing Businesses to Think Ahead
Insurers, Adjusters and Contractors Can Benchmark Performance Against Trends with Verisk’s 2021 Property Report
As volatile construction costs persist, a historical view of trends paired with up-to-date pricing better equips insurers, adjusters and contractors to understand the impact of these costs on losses. Verisk’s 2021 Property Report for the United States provides insights into property insurance trends for benchmarking. The report analyzed 7,606,375 assignments totaling $68.5 billion in losses… Continue reading Insurers, Adjusters and Contractors Can Benchmark Performance Against Trends with Verisk’s 2021 Property Report