Florida-based Universal Insurance Holdings Inc. on Tuesday forecast a gross loss of nearly $1 billion from Hurricane Ian, some of which will be covered by its reinsurance program. “To date, we’ve received approximately 18,000 claims, roughly half the number of …
Insurers are bracing for a hit of between $28 billion and $47 billion from Hurricane Ian, in what could be the costliest Florida storm since Hurricane Andrew in 1992, according to U.S. property data and analytics company CoreLogic. Wind losses …
It was 30 years ago that Hurricane Andrew, the strongest storm to make U.S. landfall in more than two decades, gouged its way across south Florida, destroying more than 25,000 homes, by some estimates, and causing more than $15 billion …
It’s been 25 years since Hurricane Andrew struck the coast of Florida on August 24, 1992. The state was no match for the 17-foot storm surge and high winds the category 5 storm produced. Andrew became the costliest disaster in …
When Andrew, a category 5 hurricane, made landfall on August 24, 1992, it was a wakeup call for the insurance industry. The devastation that resulted became the impetus for the widespread adoption of catastrophe models, according to Karen Clark, co-founder …
Hurricane Andrew hit South Florida with winds topping 160 mph on August 24, 1992, devastating several communities before striking the Louisiana coastline. According to the Insurance Information Institute (III), prior to Hurricane Katrina, Andrew caused the largest insured losses in …
There have been 28 storms in U.S. history since 1900 which if they were happen today would each cause $10 billion or more in insured losses. Experts at catastrophe risk management firm Karen Clark & Co. (KCC) said they examined …
Florida’s emergency managers are preparing for the upcoming tropical storm season by reexamining the lessons learned from Hurricane Andrew. This August will mark the 20th anniversary of Andrew’s catastrophic landfall in South Florida. The Category 5 hurricane remains one of …