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 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 …
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 …
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 …
In the storm-weary Carolinas, Hurricane Michael is stoking fresh fears among homeowners who still have tarps on their roofs or industrial dehumidifiers drying their floors from destruction left by Hurricane Florence. Thousands of homes in North and South Carolina were …
Hurricane Michael, with winds strengthening to 145 miles an hour, is poised to be the strongest storm to hit the continental U.S. since 2004, with a life-threatening surge and the potential to cause $16 billion in damage. Michael is about …
Florida Gov. Rick Scott on Sunday warned that a tropical storm headed for the Florida Panhandle could become a Category 2 hurricane with winds up to 100 miles per hour by the time it makes landfall in the middle of …
Tropical Storm Michael, on the verge of becoming a hurricane, is chugging toward the Florida panhandle on a path that may miss Gulf of Mexico oil platforms, but will bring driving rain and high winds to the region’s agricultural and …