Floods News

Allianz Warns Climate Change Could Hit Harder than Financial Crisis

As the UN climate summit in Cancun approaches, the insurance industry is preparing to present its case to the poiticians, business leaders and scientists, who will be attending. “As an insurer, we are the frontline industry to feel the heat …

Illinois Counties Sue FEMA Over Flood Maps

State’s Attorneys of Madison, St. Clair and Monroe counties in Illinois and a host of other impacted parties have filed suit in federal court against the Federal Emergency Management Agency (FEMA) and its director Craig Fugate over new flood maps. …

Louisiana Still Owes Most of Judgement in 1983 Flood

Bob McBride Jr. was 18 when he pushed a flat-bottomed boat holding his family and neighbors through chest-high water to safety in Tangipahoa Parish. Nearly 30 years later, he and hundreds of others still are waiting for the state to …

Nashville’s Music Industry Getting Back on Track After Flood

In a white clapboard house on a quiet street in Berry Hill, a six-month marathon effort to save dozens of flood-damaged musical instruments remains a daily labor of love with the goal of salvaging Nashville’s best-known industry from near disaster. …

Insurance and Going Green

What to Know About Green Commercial Building Insurance Read the news lately and it feels like everything – from cars to grocery bags – has gone green. While recent events, such as 2009’s Copenhagen Climate Change Conference, have focused increased …

Declarations

Floods, Erosion and Other Hazards “The Galveston-Harris County area is one of the most floodprone areas in the United States. … Also, erosion is a huge problem that is not going away any time soon. —Sam Brody, who heads the …

The Hartford Broadens Equipment Rental, Sales Businesses Coverage

Equipment suppliers often have protection needs that extend beyond the scope of a traditional property policy. Whether a business rents tents and tables for special events, sells industrial machinery or leases high value medical equipment, protecting the equipment while it …

Aon Warns Re/insurers of Heightened Rating Agency Scrutiny in Asia

Aon Benfield announced that it is “advising re/insurers that rating agencies are likely to increase their scrutiny of catastrophe risk in Asia and that many companies will have to make substantial investments to address this.” The bulletin noted that the …

Myrtle Beach Suing Hotels for Risking City’s Flood Insurance Coverage

The city of Myrtle Beach is suing 11 hotels to make them remove their swimming pool enclosures. The Sun News of Myrtle Beach reported the federal suit filed last week contends the enclosures violate federal rules, risking the city’s coverage …

Flood Buyouts May Alter North Dakota Neighborhoods

Kolbjorn and Solvi Rommesmo moved to the Heritage Hills subdivision along the Red River south of Fargo, N.D., because it was peaceful and close to nature. Recently, it became even more peaceful, as their neighbors left, one by one, until …