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10/21/2024 10:05 AM
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California Debuts Innovative Flood Program for Isleton Residents
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California introduces its first community-based flood program in Isleton, offering payouts to residents in flood zones when water levels hit specific thresholds, enhancing climate resilience.
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10/21/2024 09:50 AM
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2024 U.S. Home Trends Report Reveals Impact of Hail and Catastrophes on Insurance Costs
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The latest LexisNexis U.S. Home Trends Report shows increasing home insurance loss costs, driven by hail and catastrophic claims, while some weather-related perils saw declining severity in 2023.
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10/21/2024 09:02 AM
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Florida’s New Rule Brings Major Changes for Public Adjusters and Insurance Estimators
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Florida’s Emergency Rule 69BER24-4 introduces stricter ethical guidelines and transparency requirements for all insurance adjusters, particularly impacting public adjusters, with the aim of reducing unethical practices in the claims process.
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10/17/2024 11:35 AM
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Natural Catastrophe Losses in 2024 Near Average Amid Escalating Late-Season Storm Risks
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Insured losses from global natural catastrophes exceeded the 10-year average, driven by frequent storms and floods, while total economic losses for 2024 remained slightly below average.
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10/15/2024 01:15 PM
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Tornadoes Hit South Florida as Hurricane Milton’s Landfall Strikes Elsewhere
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While Hurricane Milton’s landfall was far from southeastern Florida, dozens of tornadoes struck the region, causing significant damage to homes and killing several people across the state.
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10/15/2024 12:04 PM
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Why Hurricane Milton’s Tornado Outbreak Was So Severe and What It Means for Future Storms
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Hurricane Milton triggered a deadly tornado outbreak in Florida, raising concerns over the increasing frequency of strong tornadoes linked to hurricanes. Early studies suggest a warmer world could amplify this trend.
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10/15/2024 11:00 AM
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Florida Insurers Confident in Managing Losses From Another Major Hurricane This Season
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Despite concerns from rating agencies, industry experts assure that Florida’s home insurance market has enough reinsurance and financial resilience to withstand additional hurricanes this season.
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10/15/2024 10:58 AM
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Hurricane Milton’s 123,000 Claims Signal New Reinsurance Strain, Rate Hikes Expected
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Property insurance claims from Hurricane Milton have reached 123,000, triggering concerns over reinsurance price hikes and higher property insurance rates in Florida, where losses are estimated at $1.5 billion so far.
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10/14/2024 10:03 AM
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Hurricane Milton’s Impact on Florida Buildings Matches or Exceeds Hurricane Helene’s
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ICEYE’s initial data suggests that Hurricane Milton has caused damage to as many as, or more than, 150,000 buildings in Florida, a count that rivals Hurricane Helene’s impact. Early loss estimates range from $15 billion to $40 billion.
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10/14/2024 09:06 AM
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Insurers Brace for $60 Billion in Losses from Hurricane Milton’s Devastation
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Hurricane Milton’s devastation in Florida is forecasted to trigger up to $60 billion in insured losses, with reinsurance rates expected to rise as the global insurance industry absorbs the impact.
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