Hurricane Milton Could Cost Insurers $60B, Raise Reinsurance Rates, RBC Says October 9, 2024 By Carolyn Cohn and Noor Zainab Hussain, Hurricane Milton could result in a $60 billion loss for the global insurance industry, creating a surge in 2025 reinsurance...
Verisk’s Insured Loss Estimates From Helene in Line with Other Modelers October 8, 2024 Another important modeler has rung in with insured loss estimates from the damages wrought by Hurricane Helene. Verisk estimates industry...
As Milton Nears, Flood-Proof Fences Will Face a Major Test in Tampa October 8, 2024 By Monique Mulima For the second time in two weeks, Tampa General Hospital is getting ready to keep water at bay. Hurricane Milton...
Claims Analysis: Roofs Define Luxury Homes’ Insurability October 8, 2024 By Stephen Poux and Diane Delaney The insurance industry is facing a significant rise in roof-related claims. The combination of increasingly severe weather events, inflation-driven repair...
Moody’s Estimates U.S. Private Market Insured Losses for Hurricane Helene at $8B to $14B October 7, 2024 Moody’s RMS Event Response on Monday released an estimate showing total U.S. private market insured losses from Hurricane Helene could...
Hurricane Milton Nears Category 5 Strength as It Menaces Florida October 7, 2024 By Brian K. Sullivan Hurricane Milton is on track to become a catastrophic Category 5 storm as it rakes Mexico’s Yucatan Peninsula on a...
Utilities’ Extreme Plan to Stop Wildfires: Shut Off the Power October 7, 2024 By Mark Chediak A growing number of utilities are resorting to an extreme measure to prevent their equipment from sparking catastrophic wildfires: turning...
GM Halts Vehicle Production at Two US Plants Due to Hurricane Helene October 7, 2024 By Utkarsh Shetti and David Shepardson General Motors has temporarily halted truck and SUV production at two assembly plants in Texas and Michigan because of impacts...
CoreLogic Increases Total Insured Loss Estimate From Hurricane Helene to $10.5B-$17.5B October 4, 2024 Total insured loss from Hurricane Helene is now estimated at between $10.5 billion and $17.5 billion—a figure that continues to...
The US’s Flood Insurance Program Is Making More Repeat Payouts October 4, 2024 By Matthew Griffin When Hurricane Helene barreled ashore last week, it caused devastating flooding across the southeastern U.S., including in the Shore Acres...