Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Florida Hurricane Irma Losses Keep Rising
Oct 2 2017 // With two Florida landfalls in the same day, Hurricane Irma’s destructive wind and flood damage could cost up to $65 billion for both insured and uninsured losses, according to a recent estimate by...
A.M. Best: Hurricane Irma to Test Florida Market Newbies
Oct 2 2017 // Hurricane Irma represents a sizeable catastrophe event that will test the infrastructure and potentially strain the financial wherewithal of some local and regional carriers in Florida, particularly those that are...
States Should Implement Stronger Safeguards for Consumers in Natural Disasters: Rutgers Report
Oct 2 2017 // As homeowners file insurance claims in the wake of Hurricanes Harvey and Irma, many could find their level of protection depends on the state where their damaged home is located, according to a research report released by...
Independent Texas MGAs Join Forces for Targeted Harvey Relief
Oct 2 2017 // A group of independently owned Texas managing general agents (MGAs) have come together to provide targeted, direct, local relief to communities affected by Hurricane Harvey. Texas MGAs for Disaster Relief is working with...
Analysts Expecting a Short-Term Hard Market for Property Risks
Oct 2 2017 // Damage left by Hurricanes Irma and Harvey will lead to a hardened property market and pricing correction, at least in the short-term according to a new KPMG survey. In related analysis, a new Morgan Stanley report...
With Hurricane Losses Insurers Downgrade Anticipated Profit Goals
Oct 2 2017 // Allstate expects insurance losses of about $593 million for August mainly due to Hurricane Harvey, which left a path of destruction along the Gulf Coast. The initial accounting follows warnings from other insurers that are...
Puerto Rico Power Outage to Mean More Business Interruption Claims
Oct 1 2017 // Puerto Rico’s island-wide power outage will mean a surge in insurance claims for lost business income that will increase the already high cost of damage caused by Hurricane Maria, likely tipping some big reinsurers...
North Carolina’s Outer Banks Reopened as Maria Heads Out to Sea
Sep 29 2017 // Maria was finally racing east over the Atlantic on Thursday, giving the United States a rest from the constant threat of tropical weather for more than a month. No injuries have been reported on the U.S. mainland from...
Senate Democrats Delete House-Backed Private Flood Insurance Policy Measure
Sep 29 2017 // Not long after the House passed legislation that included a provision to allow private flood insurance policies to satisfy flood coverage requirements, the Senate sidetracked the flood policy measure. The flood insurance...
RMS Estimates Hurricane Maria’s Insured Losses Will Range Between $15B and $30B
Sep 29 2017 // RMS, the Newark, Calif.-based risk modeling and analytics firm, estimated that the insured loss from Hurricane Maria will be between US$15 billion and US$30 billion. This estimate represents the insured losses associated...
Beazley Estimates $150M Earnings Hit From Hurricanes, Earthquakes
Sep 29 2017 // Lloyd’s of London insurer Beazley said on Friday it reckoned that its losses from hurricanes Harvey, Irma and Maria in the Caribbean and southern United States and a series of earthquakes in Mexico would reduce its...
Mobile Home Communities in Florida Keys Face Uncertainty After Irma
Sep 29 2017 // Overturned trailer homes are shown in the aftermath of Hurricane Irma, Monday, Sept. 11, 2017, in the Florida Keys. (Matt McClain/The Washington Post via AP, Pool) Architect Kobi Karp has a vision for affordable housing in...
Georgia Insured Losses from Hurricane Irma Exceed $300M, And Growing
Sep 29 2017 // The Georgia Office of the Commissioner of Insurance estimates that insured losses in the state from Hurricane Irma have now exceeded $300 million, with more than 50,000 property related insurance claims...
Chubb: Hurricanes Harvey, Irma Losses to Top $1 Billion
Sep 28 2017 // Chubb Ltd. has estimated it will see more than $1 billion in third-quarter losses stemming from hurricanes Harvey and Irma, a substantial hit for the insurer and reinsurer. The loss estimate is preliminary. Further details...
Lloyd’s Expects $4.5 Billion Hit from Hurricanes Harvey, Irma
Sep 28 2017 // Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural...
Update: Lloyd’s of London Reports 16% Drop in H1 2017 Profit to $1.6B
Sep 28 2017 // Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural...
Global Reinsurers to Bear ‘Significant Share’ of Hurricane Maria Claims: A.M. Best
Sep 28 2017 // Ratings agency A.M. Best said it expects a significant share of the loss from Hurricane Maria to pass on to the global reinsurers evenly. The agency said it expects the loss would remain within the overall risk tolerance...
Citizens Estimates $1.23B In Insured Losses from Hurricane Irma
Sep 28 2017 // Hurricane Irma will generate up to 70,000 claims and approximately $1.23 billion of insured losses to Citizens Property Insurance Corporation over the next 18 to 24 months, according to initial estimates presented to...
Texas Regulators Seek Data on Insurers’ Hurricane Harvey Claims
Sep 27 2017 // The Texas Department of Insurance has issued a mandatory data call to both admitted and surplus lines insurance carriers seeking information about Hurricane Harvey-related claims in 62 counties impacted by the storm. The...
Does ALE Coverage Include Cost to Evacuate?
Sep 27 2017 // Since the first forecasts showed Hurricane Harvey approaching Texas to the impact of Hurricane Irma in the Florida Keys, millions of people were ordered, recommended and asked to evacuate their homes. That gave rise to one...
