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$ [...]

AIA Opposes State Catastrophe Fund

The American Insurance Association (AIA) provided testimony today in opposition to Connecticut Senate Bill 530, legislation that would establish a state-mandated catastrophe (CAT) fund in Connecticut. The testimony was presented at a hearing before the Insurance and Real Estate Committee. “Natural catastrophe remains a manageable and insurable risk for private insurers, provided they have the [...]

Subsidence Insurance Risk Increases in the Year of the Ox

Gung Hay Fat Choy!, or Happy Chinese New Year. This year is the Year of the Earth Ox. With the ox also being an earth animal, for the coming year, till February 2010, we will have to pay extra attention to matters of the Earth. Which makes me write about a lesser known, but important [...]

Determine Your Flood Damage Costs with this Tool

“Two inches of flood water can cost you $7,800.” estimates the National Flood Insurance Program established by the US Federal government. Even a few inches of flood waters can cause extensive flood damage to your home. The National Flood Insurance Program was established to help people recover from floods by offering them affordable flood insurance. [...]

Protect Your Belongings With House Contents Insurance

House contents insurance is something every homeowner should have. This is an insurance policy that can be taken out to insure the items you have built up over the years in your home in case they should be destroyed, damaged or stolen. In general anything that you could pick up and take with you would [...]

Home Insurance Risk For Flood Plain Areas

The insurance industry has warned that many new homes could be left on the housing market and become un-insurable unless the government introduces new rigid planning controls for flood risk areas. By the year 2020, a third of the 3 million proposed homes set to be built in Britain, could be on a flood plain [...]

Latest News in Home Insurance – Sep 8, 2008

Investors Lost $1.4 Billion in General Re, AIG Fraud, U.S. Says – Bloomberg 5 Sep 2008 at 9:42pm Sept. 6 (Bloomberg) — A fraud that led to the convictions of five insurance executives cost American International Group Inc. shareholders as much as $1.4 billion, U.S. prosecutors said yesterday in a court filing. Four former General [...]

Categories For Water, Flood Or Sewage Damage – 3 Types Of Categories For Your Insurance Claim

There are three important categories to help restoration contractors and insurance adjusters to determine the job area and the procedures that will be needed to achieve safe and effective flood or water restoration of structures and contents. Water damage restoration is divided into three basic categories for a typical water damage project. category 1– clean [...]

Latest News in Home Insurance – Aug 18, 2008

OneBeacon Said to Hire Lehman to Sell Auto, Home Unit (Update1) – Bloomberg 15 Aug 2008 at 1:53pm Aug. 15 (Bloomberg) — OneBeacon Insurance Group Ltd. , the 177-year-old insurer that paid claims on the sinking of the Titanic, is seeking a buyer for its auto and home division in a sale that may raise [...]

North Pacific Cyclone Activity Expected Close to Normal

The region will experience 30 tropical cyclones and 19 typhoons, which is considered average or slightly above average, The latest updated prediction of seasonal tropical cyclone activity for the North Pacific this year by Reinsurance broker Guy Carpenter & Co llc predicts. The report indicates La Nina, which was strong in 2007, is weaker this [...]

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