Property Insurance News

04/18/2019 11:30 AM
How Insurers Can Turn Their Salvage Into Social Purpose
If your client has filed a claim after experiencing a major event like a flood or fire¸ it’s likely that contractors have removed salvageable materials that are still usable. For example¸ in the event of a kitchen flood¸ contractors may place a large bin outside and start taking apart the flooring and cabinets that had been damaged. But in this case¸ the flood would have likely damaged flooring and lower cabinets¸ so why throw the upper cabinets in a bin destined for the landfill when they can be repurposed? One large Canadian insurer has taken a unique approach to divert such salvageable materials from landfills. Since 2014¸ The Co-operators has partnered with Habitat for Humanity Canada for the insurer’s ReClaim program¸ which provides Habitat for Humanity ReStores with good quality materials salvage from a home claim.

04/17/2019 11:00 AM
Delaware Was Hit By Strongest Tornado Since 2004 Early Monday Morning
Before dawn Monday¸ in the dark of night¸ a powerful EF2 tornado tore a six-mile path through Sussex County¸ Del. The twister injured one person and seriously damaged more than a dozen buildings. The National Weather Service said the tornado traveled from Laurel to Seaford¸ Del.¸ touching down at 3:38 a.m. Monday and remaining on the ground for about seven minutes. Its size varied between 50 and 400 yards wide¸ and its winds peaked at 120 mph. This part of rural southern Delaware is roughly midway between Bridgeville and Trap Pond State Park¸ close to routes many Washingtonians use to reach the Delaware beaches of Lewes¸ Rehoboth and Bethany.

04/16/2019 11:30 AM
Mississippi Governor Declares State Of Emergency As 17 Counties Deal With Severe Weather Damage
Governor Phil Bryant has declared a State of Emergency following widespread severe weather on Saturday. Sunday afternoon¸ the Governor and the Mississippi Emergency Management Agency (MEMA) met to give an update to the public on the damage across the state. Officials say that 17 counties are dealing with damage from the storm. The worst damage was seen in Monroe and Warren Counties. All schools in Monroe County will be closed tomorrow due to power outages. Vicksburg schools will also be closed. One person was killed in Monroe County. Coroner Alan Gurley identifies him as Roy Ratliff¸ 95. Gurley says Ratliff was inside his home on Center Hill Road when a tree smashed through his mobile home crushing him in his sleep.

04/16/2019 10:45 AM
Estimates Predict ‘Monster’ Spring Storm Will Cost Billions
A new report has estimated that the deadly spring blizzard that affected central US last week will lead to billions of dollars in damage and economic loss. AccuWeather reported that the storm¸ which initially hit April 09¸ could cost $3 billion. The estimate was based on an analysis of damages already inflicted¸ as well as those expected to occur. However¸ the damage projection is separate from the estimated $12.5 billion in total damage resulting from record-breaking floods in the Midwest¸ noted AccuWeather founder and CEO Dr. Joel Myers.

04/15/2019 11:15 AM
Damage From Past Storms Reveals The Risks Of Tornado And Hail Activity
Last year¸ the United States saw above-average activity for hurricanes¸ floods¸ wildfires and high winds. In 2018¸ severe convective storms in particular rained large hail down on Dallas¸ Texas¸ and Colorado Springs¸ Colorado¸ while a total of 82 tornadoes hit Western Louisiana and Arkansas¸ through to Southern Florida and up to Western Virginia¸ according to CoreLogic’s annual Natural Hazard report. Nonetheless¸ the first few months of 2018 were quieter for tornado and hail activity¸ even though the year turned out to be a stormy one with eight of the billion-dollar disasters coming from tornadoes¸ hail¸ and straight-line winds. “Through May¸ tornadoes were down 40% compared to the 10-year average. Hail was [also] down significantly¸ but then a lot of times¸ the season tends to correct itself.

04/15/2019 10:00 AM
Tornadoes Kill At Least Five As Massive Storm Sweeps U.S. South
Weekend tornadoes killed at least five people¸ including three children¸ in the U.S. South¸ authorities said on Sunday¸ as a massive storm system with damaging wind and hail moved across the country and began drenching East Coast states. A tornado touched down and spun toward Enigma¸ Georgia¸ on Sunday¸ after 17 twisters were reported on Saturday and earlier on Sunday across the South from Texas to Alabama. “We’ll be seeing severe weather from Florida to New York¸ with the most unstable parts so far in Georgia¸” said meteorologist David Roth of the National Weather Service (NWS) Weather Prediction Center.

04/10/2019 01:30 PM
Contractors Strike Gas Line¸ Trigger Fatal Explosion In Durham¸ North Carolina
A gas explosion that partially collapsed a North Carolina building and set it ablaze Wednesday morning killed one person and injured more than a dozen others¸ police said. Police cars blocked the streets near the explosion in downtown Durham and a thick¸ acrid smoke hung over the shopping district created from remodeled tobacco warehouses. At least two ladder trucks sprayed blasts of water into the smoldering rubble nearly two hours after the explosion. Durham Police Department spokesman Wil Glenn said a contractor boring under a sidewalk hit a 2-inch gas line¸ triggering the explosion. One person was killed and 15 people were taken to area hospitals¸ Glenn said at a news conference. One firefighter was seriously injured¸ he said.

04/09/2019 10:45 AM
American Family Announces Partnership To Offer Smart-Home Protection
American Family Insurance has announced a partnership with UK start-up Neos to help US customers proactively protect their homes using smart-home technology. The partnership is the first of its kind for a US insurer¸ according to American Family. “This value-added approach aligns with American Family’s strong customer focus on proactively protecting customers¸” said Andy Kearns¸ state product director for American Family. “It’s one thing to be there for customers to provide payment after an unforeseen event¸ but it’s another to help prevent a major incident – which benefits us both.” Neos launched its smart-home insurance products and services in the UK in 2016 and the start-up has since expanded through partnerships with carriers in the UK and the Netherlands¸ including global multiline insurer Aviva¸ a majority owner of Neos.

04/09/2019 10:15 AM
Explosion Occurred In Fort Worth Home With Renovation Crew Inside
One person was hurt after an explosion leveled a home near Fort Worth Saturday. Fire officials say a renovation crew was inside the 6¸000 square foot house when the explosion happened. Investigators are looking into whether a propane gas leak could be to blame. However¸ the Tarrant County Fire Marshall says it’s more likely that fumes from lacquer being used may have been ignited which caused the powerful blaze. Officials say the owners of the house were not home at the time of the explosion. The house is considered a total loss.

04/09/2019 09:15 AM
EF1 Tornado Touches Down In Marshall County¸ Alabama
The National Weather Service confirms an EF1 tornado touched down in Marshall County Monday morning. Winds peaked at 100 mph. The Marshall County weather team tracked the initial touchdown southwest of the intersection Highpoint Road/McAllister Road and Bearden Road. Numerous hardwood trees were either uprooted or had large limb damage. As the tornado approached Highpoint Road it caused minor roof damage to two single-family homes and destroyed a large shed. A mix of hardwood and softwood trees were either snapped or uprooted along portions of Nixon Chapel Road and Section Line Road. A more concentrated area of tree damage plus significant mobile home roof damage was in the area between Windsor Road and Mount Olive Road. The NWS reports this is likely were the tornado peaked in intensity.