Monthly Archives: <span>November 2012</span>

Wind Deductibles and Sandy: What It Means for Total Insured Losses

On October 29, 2012, when Hurricane Sandy made landfall along the northeast coast—a year to the day since the last northeastern superstorm and fourteen months since Hurricane Irene — the wind speeds recorded by the National Weather Service indicated the …

October Disaster Loss at $1.08B: Allstate

Allstate Corp. expects to report October disaster losses of $1.08 billion, mostly due to superstorm Sandy, the home and auto insurer said on Wednesday. Allstate, the largest publicly traded home and auto insurer in the country, said its gross losses …

After Sandy, Lower Manhattan Limps Back to Life

The hum of massive mobile generators, boilers and pumps emerges blocks from Manhattan’s Financial District and turns into a steady din south of Wall Street — the now-familiar sound of an area laboring to recover from Superstorm Sandy. Other parts …

South Carolina Emergency Officials Study Sandy for Lessons

Emergency officials on the South Carolina coast are looking at Superstorm Sandy to try to learn ways to better prepare for future storms. Horry County emergency management director Randy Webster has been looking at the impact of Sandy, The Sun …

Connecticut Archdiocese Sues Insurer Over Misconduct Payments

The Roman Catholic Archdiocese of Hartford, Connecticut, says its insurer has failed to cover more than $1 million the archdiocese paid out in recent years to settle four sexual misconduct cases involving priests.

Kentucky Testing Dam for Possible Earthquake Damage

Officials in eastern Kentucky are conducting tests on a dam to see if a recent 4.3 magnitude earthquake centered near Blackey enlarged the flow of a small stream at the bottom of the structure. Inspectors from the Kentucky Division of …

Florida Commission to Decide Nuclear Plant Insurance Rate Offset

The state Public Service Commission is considering annual rate adjustments sought by Progress Energy Florida including a charge for power purchased to replace output from a crippled nuclear reactor. The commission will decide on fuel, purchased power and other adjustments …

Senate Preparing New Iran Sanctions, Expanded Insurance Ban

New sanctions aimed at reducing global trade with Iran in the energy, shipping and metals sectors may soon be considered by the U.S. Senate as part of an annual defense policy bill, senators and aides said on Tuesday. The sanctions …

White House Request for Sandy Aid Expected to Include Flood Insurance Funds

The White House is expected in the coming days to send Congress a multibillion dollar request to fund recovery from Superstorm Sandy, which caused an estimated $71 billion in damages in New York and New Jersey. Congressional aides said there …

Willis Provides Expertise to UK Government Report on Cat Models/Risk Reduction

A bulletin from Willis Group Holdings notes the international broker’s role in providing its expertise for a new UK Government Office of Science Foresight report entitled “Reducing the Risks of Future Disasters: Priorities for Decision Makers.” “Disaster risk reduction needs …