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$ [...]