California had long been a good bet for homeowners’ insurers, with most carriers having no problem recouping paid losses through premiums. But in 2017 and 2018, the state experienced six of the 10 most destructive wildfires in its history and …
Munich Re had teamed up with a unit of the National Insurance Crime Bureau to offer insurance carriers an analytics tool that can quickly assess property damage after natural catastrophes and speed up claims payments. Roman Buegler, head of Munich …
The House cleared a $19 billion disaster-aid plan for areas hit by hurricanes, Midwest floods and California wildfires on Monday after months of negotiations and a final delay of more than a week caused by Republican objections. The bill, passed …
The Senate passed a $19.1 billion disaster-aid plan Thursday for areas hit by hurricanes, Midwest floods and California wildfires after lawmakers resolved months of disagreement over funds for Puerto Rico. President Donald Trump said he supports the bill. The 85-8 …
Pacific Gas & Electric Corp. received approval Wednesday to establish a $105 million fund to help survivors of recent California wildfires started by the utility’s equipment. A federal judge overseeing PG&E’s bankruptcy case approved the utility’s wildfire assistance program to …
Lobbyists for the property and casualty insurance industry are trying to prevent a $125 million increase in Washington state premium taxes that would fund wildfire prevention and suppression. The tax would affect home, auto and business insurance in an action …
About the photo: Artist Aaron Angelo takes a sledgehammer to the leg of a baby grand piano in a house where two rooms are being transformed to look as they might have looked once floodwaters receded following Hurricane Katrina in …
Hurricane Harvey has set a U.S record, according to the National Weather Service, dumping 51.88 inches of rain in parts of Texas. As the tropical storm moves over southern Louisiana, claims catastrophe teams are moving in to devastated cities in …
Warren Buffett says the rate of disasters that Berkshire Hathaway’s insurance companies see hasn’t changed because of extreme weather. Buffett said on CNBC Monday that he hasn’t made any change in the way he calculates the likelihood of a catastrophe …
Typhoon Haiyan, which killed more than 6,000 people in the Philippines last fall, reminded us how much suffering and damage nature can cause, and how important it is to invest in resilience and be ready to respond. As climate change …