After Hurricane Sandy: Public Insurance Adjusters Can Streamline Big Claims

As homeowners assess the damage from Hurricane Sandy, many will be facing the process of filing insurance claims as they try to recoup from the historic storm. Navigating the claims process — understanding what a policy covers and how much of a cash payout should be expected — can be overwhelming, especially after experiencing a [...]

Hurricane Sandy Losses may be Triple those of Irene

Hurricane Sandy appears to have easily caused twice or even three times the losses of last year’s Hurricane Irene, but final totals will be hard to come by for some time because of the scale of the disaster, catastrophe forecasting companies said on Tuesday. One of the biggest questions now is who will pay for [...]

Hurricane Sandy claims may exceed insurance program funds: FEMA

The federal government’s flood insurance program may not have access to enough funds to cover anticipated claims from Hurricane Sandy victims, a top official at the Federal Emergency Management Agency said on Thursday. Edward Connor, FEMA’s deputy associate administrator for federal insurance, told an insurance advisory panel on Thursday that his agency is projecting a [...]

How Much Will Hurricane Sandy Cost Insurance Companies?

Just days after Hurricane Sandy pummelled the east coast of the United States, and made her historic turn inward towards the New Jersey coast, insurance estimates began rolling in, and the news wasn’t good. The storm, which affected a broad area, particularly devastated the states of New Jersey, Pennsylvania, and New York. Many in the [...]

Hurricane Insurance: Help!

Hurricane Insurance: Help! While the threat of hurricanes might be an unavoidable fact of life for those owning beachfront and coastal property, the financial losses accompanying those storms can be minimized with proper insurance coverage. Selecting the right type of hurricane coverage at the right price isn’t always easy, however, because unfortunately there is no [...]

Texas Hurricane Insurance Claims Create 2008 Loss for Insurers

For half a decade, Texas insurance companies showed strong profitability with loss ratios of only < 60%. That was before 2008. Then, in 2008, Taxes insurers were force to pay out on one of the most destructive hurricanes in state history, i.e. hurricane Ike hitting Galveston and Houston, the Texas Department of Insurance reported. The [...]

Insurance Companies to Disclose Climate Change Risk

US insurance regulating body, National Association of Insurance Commissioners (NAIC), now demands insurance companies to disclose how climate change will affect them. NAIC is aware of the huge risk that environment change entails, however it lacks information of how the insurance industry is planning to respond. Concerns are the availability and affordability of insurance policies [...]

2008 Costly for Hurricane Insurance, Storm Insurance & Other Catastroph Insurance

AMRE / Munich RE reports: “The very high natural catastrophe losses incurred in 2008 again show the crucial importance of risk research for the insurance industry. In its annual review published today, “Topics Geo – Natural catastrophes 2008″, Munich Re’s geo risks experts take an in-depth look at Hurricane Ike – with losses of US$ [...]