HCI group reports $17.7 million in catastrophic loss
HCI Group Inc. preliminary estimates for catastrophic loss in the third quarter of 2020 reached $17.7 million.
Storm Loss
Homeowners can file second insurance claim for second hurricane
Homeowners hit by Hurricane Laura can file a second insurance claim and for more aid from the Federal Emergency Management Agency if they also experienced damages from Hurricane Delta, but…
Hurricanes cause $58 million loss for Universal Holdings
Universal Insurance Holdings Inc. experienced an estimated $58 million, pre-tax impact from two hurricanes in the third quarter of 2020, the company announced on Sept. 23.
Homeowners can avoid costly insurance mistakes before the storms arrive
With names storms developing at a furious pace this hurricane season, homeowners should not risk making costly mistakes with their insurance policies.
How to assure your insurance covers wind, water damage from hurricanes
Homeowners face two big problems with hurricanes – wind and water – and separate insurance policies may be needed to cover any damages.
Florida OIR offers tips to Villages residents for what to do in the aftermath of storm damage
The Florida Office of Insurance Regulation (OIR) advises residents in The Villages to find all their homeowners’, auto and flood insurance policies before a storm hits and store them in…
MERLIN LAW GROUP, P.A.: Deadline To File Hurricane Irma Damage Claims Less Than One Month Away
The three-year claim deadline to file an insurance claim for damage from Hurricane Irma is fast approaching.
Early storms start off extremely active hurricane season
Catastrophe losses have been mounting before the peak hurricane season in what Kroll Bond Rating Agency called an “extremely active” forecasted Atlantic hurricane season.
Hurricane Katrina, Sandy top list of flood events based on insurance payouts
Hurricane Katrina and Superstorm Sandy took the top spots in an Insurance Information Institute ranking of flooding events in the United States since 1978, based on payouts made through the…
Florida, Louisiana top state rankings on potential storm surge damage
The states most at risk from hurricane storm surges, both in the number of homes affected and the total cost of reconstruction, are Florida and Louisiana, according to an analysis…
HERITAGE: Announces Preliminary Second Quarter 2020 Weather and Catastrophe Losses
Heritage Insurance Holdings, Inc. (NYSE: HRTG) (“Heritage” or the “Company”), a super-regional property and casualty insurance holding company, announced that it expects to incur approximately $26.8 million of net current…
Impact on reinsurance market low after Tropical Storm Fay makes landfall
Tropical Storm Fay caused approximately $400 million in insurance market loss when it hit the northeastern U.S., catastrophe risk modeller Karen Clark & Co. estimated.
Florida, Texas and California face highest flooding risk, First Street Foundation study finds
The states with the most properties at risk of substantial flooding this year are Florida, Texas and California, according to a new study from the First Street Foundation.
KATZMAN CHANDLER: Florida Community Associations Must Take Immediate Action to Preserve Hurricane Irma Property Damage Claims
The deadline to file a new or supplemental claim, or to reopen a previous insurance claim regarding Hurricane Irma damages is fast approaching on September 10th, 2020.
Citizens Property alleges law firm’s actions amount to racketeering
Florida’s public insurance firm of last resort accused a law firm’s schemes with a public adjusting company and restoration company for causing it to lose millions of dollars.
DEMOTECH: To Host Webinar on 2020 Florida Storm Season
Demotech, Inc., the first rating service to review and rate independent, regional, and specialty insurance companies and the rating service of choice for residential property insurers focused on Florida, announces…
Judge rules new law doesn’t apply because AOB signed before law took effect
Broward Circuit Judge Keathan Frink refused to rule on the constitutionality of the new law that blocks payment of attorney fees to third parties.
Katrina remains most costly hurricane in U.S. history, insurance industry tally finds
The 2005 storm system that caused massive flooding in New Orleans, killing more than 1,800 people, remains the costliest U.S. hurricane in terms of insurance losses, according to an Insurance…
Nearly 63% of Hurricane Dorian property claims closed, Florida insurance agency reports
About 62.7 percent of property-insurance and business-related claims resulting from Hurricane Dorian damage in Florida last year have been closed, the Florida Office of Insurance Regulation (FOIR) reports.
NICB: Top 5 States For Hail Claims
Texas Continues to Take the Top Spot for Hail Claims
Hailstorms pose big risks to homeowners failing to maintain roofs
Property owners need to properly maintain their roofs and get their homes appraised to make sure they’ve mitigated the risk of hailstorms.
Today’s ‘once-in-a-lifetime’ coastal flooding likely to become daily events by 2050
Today’s measure of 50-year record high tides will become daily events by 2050 for many coastal dwellers in the United States.
DEMOTECH: The View at December 31, 2019 – Florida Focused Insurers Closing Claims Associated with the Storms of 2016, 2017, and 2018
In November 2019, Demotech released an analysis of claim closure rates that included the impact of the storms of 2016, 2017, and 2018.
Unresolved Hurricane Michael claims centered in Bay County, insurance agency reports
About 73% of the open property-insurance and business-related claims resulting from Hurricane Michael damage originated in Bay County, the Florida Office of Insurance Regulation reports (FOIR).
Nearly 90% of Hurricane Michael property claims closed, Florida insurance agency says
About 89.4 percent of home-insurance and business-related claims resulting from Hurricane Michael damage along the Florida panhandle have been closed, the Florida Office of Insurance Regulation reports (FOIR).