Flooding Drives Millions to Move as Climate Migration Patterns Emerge
ST. LOUIS (AP) — Flooding is driving millions of people to move out of their homes, limiting growth in some prospering communities and accelerating the decline of others, according to a new study that...
View ArticleCalifornia Faces New Flood Risk as Storm Moves On: Weather Watch
California’s flood threat isn’t over even as the storm currently battering the state whirls its way across the US West. The US Climate Prediction Center said there is the potential for more heavy rain...
View ArticleAllstate Reports $276M in January Cat Losses, Updates Rate Increases
Allstate Corp. on Thursday reported January pretax catastrophe losses of $276 million. The Northbrook, Illinois-based insurer reached its $150 million threshold to report catastrophe losses following...
View ArticleCoreLogic: 2-inch-Plus Hail Fell on 10M U.S. Homes in 2023
Last year saw 141 days with large hail (2 inch or greater)—the highest number of days in 20 years, according to a new report by CoreLogic. The 2024 Severe Convective Storm Report details how severe...
View ArticleRisk Models Behind World’s Best Hedge Fund Strategy Are Getting a Lot Harder...
As the best hedge fund strategy of 2023 becomes a magnet for mainstream investors, the risk models it relies on are getting a lot tougher to crack. The strategy in question is tied to insurance-linked...
View ArticleOhio on Tornado Watch After Storms Sweep Midwest: Weather Watch
Eleven tornadoes were reported across the Midwest, with five coming in Illinois, four in Ohio and two in Michigan, the US Storm Prediction Center said as of 7 a.m. New York time. In addition, there...
View ArticleAM Best Reports US P/C Industry Underwriting Loss Reaches 10-Year High
Industry rating agency AM Best said the U.S. property/casualty industry’s underwriting loss for 2023 reached a 10-year high of $38 billion, attributable to severe weather-related losses, stubborn...
View ArticleLouisiana Commissioner Temple Seeks $20M for Fortify Homes Program
Louisiana Insurance Commissioner Tim Temple expects lawmakers to allocate at least $20 million to the Lousiana Fortify Homes Program during the legislative session that begins on Monday. The funds...
View ArticleCorner Turned? Top Florida Insurers See First Profit in Seven Years, S&P...
Florida’s beleaguered property insurance market is starting to look normal again, with the top insurers in the state showing a collective profit for the first time in seven years, S&P Global Market...
View ArticleWeathering the Storm: The Impact of Climate-Driven Risk Reassessments on the...
One of the most pressing challenges facing insurance professionals today is the escalating impact of extreme weather events in traditionally disaster-prone areas. Last year alone, the U.S. witnessed a...
View ArticleRaging Storms Pushed Disaster Damages Above $100 Billion in 2023
Around the world, insured damages inflicted by natural catastrophes are climbing fast and set to double in roughly 10 years, the Swiss Re Institute — the research arm of the giant reinsurance firm —...
View ArticleAccuweather Predicts Above-Average 2024 Atlantic Hurricane Season
Accuweather meteorologists are predicting an above-average Atlantic hurricane season with as many as 20-25 named storms. The 2024 hurricane season is forecast to feature 8-12 hurricanes including 4-7...
View ArticleMore Than Half of Homeowners Fear Climate Change, Most Worry About Rising...
Homeowners are increasingly worried about hazards and rising insurance costs as temperatures rise in the U.S. A survey of nearly 2,000 U.S consumers shows 51% of homeowners are worried climate...
View ArticleStates Across the US Midwest Are on Alert for Tornadoes: Weather Watch
Storms and tornadoes are in the forecast for states across the Midwest in the US, with further weather warnings and advisories stretching further east. There is a moderate risk of severe thunderstorms...
View ArticleFEMA: SW Florida Stripped of Flood Insurance Discounts After ‘Improper Rebuilds’
After spiking premiums, nonrenewals and complaints about unpaid claims, more than 115,000 property owners in southwest Florida are now facing a new slap in the face after 2022’s Hurricane Ian: 25%...
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