Despite a finding earlier this month that current rates are inadequate for both residential and commercial coverages, an underwriting committee for Texas’ windstorm insurer of last resort voted Monday not to recommend a rate increase for its policyholders. The Texas Windstorm Insurance Association’s Actuarial and Underwriting Committee’s recommendation will now be forwarded to TWIA’s board… Continue reading Despite Rate Inadequacy, Texas Windstorm Insurer Committee Urges No Premium Increases
Tag: windstorm damage
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
The Rising Costs of Hurricanes
Counties along the U.S. shoreline that endured hurricane-strength winds from Florence in September experienced a surge in population from 1980 to 2017, with an increase of 95 people per square mile—more than double the density. Overall, Gulf and East Coast shoreline counties, those vulnerable to hurricane strikes, increased by 160 people per square mile, compared… Continue reading The Rising Costs of Hurricanes
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