Latest Coastal Headlines
All the headlines from our Coastal Topic Page, ordered by recency.
Changes at American Coastal Insurance After Florida OIR Action on ‘No-Fly List’
Jul 1 2024 // Florida regulators’ effort to enforce a 2002 state law and keep insolvent insurers’ officers out of carrier leadership roles appears to be a reason behind a significant shakeup at St. Petersburg-based American...
Tropical Storm Alberto to Bring Flooding to Coastal South Texas
Jun 19 2024 // Tropical storm Alberto has caused flooding and more than three feet of storm surge in parts of coastal south Texas but is not expected to strengthen to hurricane force, meteorologists say. Alberto is the first named storm...
Bipartisan Bill Aims to Authorize Payouts for Coastal Structures
Jun 11 2024 // A new bipartisan bill would authorize National Flood Insurance Plan payouts for structures condemned due to chronic erosion or unusual flooding. Introduced earlier this month by Congresswoman Chellie Pingree (D-Maine) and...
5 Killed in Fiery Crash on South Carolina Coastal Road
Jun 3 2024 // ST. HELENA ISLAND, S.C. (AP) — Five people, including a 4-year-old, were killed during a fiery three-vehicle crash near the southern South Carolina coast, authorities said Thursday. The South Carolina Highway Patrol said...
American Coastal Reports Profitable Q1 for This Year
May 13 2024 // SAINT PETERSBURG, Fla. (AP) — American Coastal Insurance Corp. (ACIC) on Thursday reported first-quarter earnings of $23.6 million. The Saint Petersburg, Florida-based company, the rebranding of part of now-insolvent...
American Coastal to Sell Interboro to Forza Holdings, Completing Personal Lines Exit
May 13 2024 // American Coastal Insurance Corp. (ACIC) has agreed to sell its subsidiary Interboro Insurance Co., a New York domiciled insurer, to Forza Insurance Holdings, a Houston-based firm that funds insurance organizations serving...
People Moves: Castle, Gray Named to Senior Posts at American Coastal
Jan 19 2024 // St. Petersburg-based American Coastal Insurance Corp. has named two to high-level positions in the company. Svetlana Castle is the new chief financial officer, starting Jan. 22, the company said in a press release. Castle,...
Massachusetts Climate Strategy Brings Together Its 78 Coastal Communities
Nov 30 2023 // Massachusetts Governor Maura Healey has announced a plan to assist the state’s 78 coastal communities from Cape Cod to the North Shore, where 2.5 million live, with their development of long-term regulatory, policy,...
American Coastal, Once Affiliated with UPC, Has Buyer for Interboro in New York
Nov 14 2023 // American Coastal Insurance Corp., formerly affiliated with Florida-based United Property & Casualty Insurance, announced it has a cash buyer for Interboro Insurance Co. in New York. According to the company, the...
Morningstar: Coastal Communities at Risk of Becoming Uninsurable
Oct 25 2023 // DBRS Morningstar experts anticipate increased reliance on government insurance programs as insurers exit catastrophe-prone states. New commentary from the credit ratings business said these departures could...
A Hidden Climate Danger Threatens Coastal Communities With Toxic Chemicals
Sep 29 2023 // A little-known climate threat lurks under our feet: rising groundwater that could release toxic chemicals from more than 132,000 contaminated sites in coastal areas of the US. In a first of its kind study, researchers...
Ophelia Brings Flooding to Coastal North Carolina, Virginia
Sep 25 2023 // ANNAPOLIS, Md. (AP) — Residents in parts of coastal North Carolina and Virginia experienced flooding Saturday after Tropical Storm Ophelia made landfall near a North Carolina barrier island, bringing rain, damaging...
Alabama Supreme Court Says Work on New Coastal Bridge Can Resume
Aug 28 2023 // The Alabama Supreme Court ruled Friday that the state can continue work on a new bridge that will give motorists an alternate route to state beaches. Justices reversed an injunction issued by a Montgomery judge that had...
Valent Group Acquires Coastal Professional Insurance in Alabama
Aug 4 2023 // Birmingham-based Valent Group, an insurance brokerage and risk management firm, has acquired Coastal Professional Insurance Inc., an independent agency in Mobile, Alabama. Coastal, or CPI, has been in the business for...
After UPC Insolvency, Parent Company Rebrands to American Coastal Insurance
Aug 1 2023 // Six months after its namesake insurance carrier was deemed insolvent, United Insurance Holdings is rebranding itself in the name of its surviving insurer, as American Coastal Insurance Corp. The St. Petersburg,...
Map Tool Gives Grim Look at Sea Level and Flood Impact on Coastal Areas
Jul 24 2023 // Many of the lowest-lying coastal areas of the Southeastern United States, including some heavily populated parts of Florida, will be subject to increased annual flooding in less than 30 years, according to scenarios mapped...
Coastal Construction, Rising Replacement Values Contribute to Costly Hurricane Claims
Jul 21 2023 // Insured losses from hurricanes have risen steadily over just the past 15 years, with nine of the 10 costliest hurricanes in U.S. history occurring since 2005, according to the Insurance Information Institute...
Alabama High Court Declines to Lift Injunction Blocking Coastal Bridge
Jun 9 2023 // A divided Alabama Supreme Court on Friday declined to lift a preliminary injunction blocking construction of a new coastal bridge. Justices in a 5-3 decision declined the emergency request from the Alabama Department of...
Storm Batters Maine Coastal Communities
Oct 17 2022 // A storm packing strong winds and heavy rain lashed the New England coast on Friday with the greatest impact in Maine, where more than 100,000 homes and businesses lost power. The storm brought a gust of 72 mph (116 kph),...
Ian to ‘Significantly Impact’ Property Rates for Coastal States: MarketScout
Oct 5 2022 // Hurricane Ian is going to affect commercial and personal property rates “significantly” – not just in Florida, predicted MarketScout. The Dallas-based insurance distribution and underwriting company released...
