Hurricane Michael News

J.D. Power: Insurers Gain High Marks After Hurricanes Florence, Michael

After the two recent billion-dollar disasters struck the southeast this fall, the nation’s largest property/casualty insurers responded by deploying their CAT response teams to the affected areas. J.D. Power surveyed consumers affected by the storms to understand which insurance companies …

Georgia Hurricane Michael Insured Losses Near $700M

Georgia’s insured losses from Hurricane Michael have climbed to more than $696 million, with insurers reporting approximately 68,000 claims filed as of the end of October, according to a press release from Insurance Commissioner Ralph Hudgens. The estimate is based …

#Resilience: How Zurich Used Social Media to Respond to Customers Affected by Hurricane Michael

You might think that when a major hurricane makes landfall in the United States, Zurich North America employees have more important things to do than to peruse Facebook, Twitter and Instagram. For the most part, that’s true. But a small …

Utility Disaster Fund Helps Pay for Outside Crews, Equipment and Supplies

Gulf Power has a disaster fund to pay for the thousands of out-of-state linemen and extra equipment needed to rebuild Bay County’s electrical system after Hurricane Michael. But whether that fund can cover the whole recovery cost isn’t yet known. …

Devastating Hurricanes Spur Attention on Disaster Preparation

Hurricane Michael’s devastation could spur policymakers to better prepare vulnerable communities for the effects of climate change. The images of entire towns in Florida’s panhandle all but erased by storm surges, as well as accounts of bodies pulled from shattered …

Michael Highlights Florida Panhandle’s Weak Building Codes

Unlike in South Florida, homes in the state’s Panhandle did not have tighter building codes until just 11 years ago; it was once argued that acres of forests would provide the region with a natural barrier against the savage winds …

Analysts: Florida Insurers Can Weather Effects of Michael

Florida’s disjointed property insurance system that relies almost exclusively on small and midsize companies will take a multibillion dollar loss from Hurricane Michael, but has sufficient reserves and backups that providers should be able to pay claims without problems, analysts …

Hurricane Michael’s Cost: $25B With up to $8B in Insured Losses

Hurricane Michael will probably end up causing at least $25 billion in economic losses. About $3 billion of that will fall on the federal flood insurance program and private insurers may get hit with $9 billion to $10 billion in …

How Michael Grew Into a 155 MPH Category 4 Hurricane

Moist air, warm waters in the Gulf of Mexico, and ideal wind patterns supercharged Hurricane Michael in the hours before it smacked Florida’s Panhandle. Hurricane Michael was barely a hurricane Tuesday morning, with winds of 90 mph. A little over …

AIG May Be More Exposed to Storm Losses After Reinsurer Acquisition

American International Group Inc.’s Brian Duperreault spent his first year as chief executive officer on a rebuilding effort, and his biggest acquisition is the one that can magnify the insurance giant’s exposure to losses from catastrophes like Hurricane Michael. AIG …