A North Carolina investment firm and its property insurer have each won partial victories in a dispute over hurricane insurance claims that has been in court since 2019. A federal district court judge for Eastern North Carolina dismissed the insured’s …
A utility is building walls around an electric substation to prevent them from being overrun by floodwaters in the first of its kind project in South Carolina. Duke Energy is spending $1.6 million on the Nichols project to protect a …
A coastal city in South Carolina is getting $1.45 million from the federal government to repair damage caused by Hurricane Florence in 2018. The U.S. Department of Commerce is awarding the grant to Georgetown to improve water infrastructure and support …
Another $180 million in state funds are going to help with disaster recovery following hurricanes Matthew, Florence and Dorian and to prepare for North Carolina’s next storm. The state House and Senate voted on Thursday for a negotiated package that …
Hurricane Florence killed 22 people across three Southeastern states, was the ninth most destructive storm in terms of property damage in U.S. history and spawned 44 tornadoes, a report from the National Hurricane Center said Friday. The report described Florence …
Hurricane Florence caused extensive freshwater flood damage in the Carolinas and parts of Virginia in September—and about 70 percent of those flood losses will be uninsured, according to RMS. “The insured loss for Florence will be between $2.8 billion and …
The flood insurance protection gap in the United States is massive, but the take-up rate of private flood insurance continues to be low. The relative inability of private insurers to penetrate the flood insurance market has been blamed on the …
The economic costs of last year’s 394 natural catastrophe events came to US$225 billion with insurance covering US$90 billion of the overall total, creating the fourth costliest year on record of insured losses, according to an Aon report titled “Weather, …
The costliest natural catastrophes occurred in the United States in 2018 with one of California’s devastating wildfires and Hurricane Michael topping the list, according to Munich Re. A report from Munich Re on last year’s natural disasters pointed to “clear …
It was a busy year in the Southeast with two major hurricanes that wreaked havoc on the region, an escalating insurance crisis in Florida, and a new industry-specific cybersecurity law in South Carolina that takes effect Jan. 1, 2019. Here …
