Too busy fleeing from a hurricane to decide which evacuation route to take in Mississippi? You may want to check your cell phone or laptop for a tweet. Mississippi Department of Transportation officials will use the micro-blogging platform Twitter to …
Gov. Charlie Crist and the Florida Cabinet received a bit of encouraging news this week about the state’s tenuous hurricane catastrophe fund. The head of the agency responsible for Florida’s investments told them a loosening credit market provides the ability …
Leon County Circuit Court Judge P. Kevin Davey ordered the Hollywood-based Coral Insurance Co., a residential property insurance provider in Florida, into receivership for the purpose of rehabilitation. The Department of Financial Services was named as the receiver as of …
Texas legislators finally have jumped into debate over how to improve the troubled windstorm insurance system that serves as a last resort for hurricane protection along much of the Gulf Coast. The House Insurance Committee, watched closely by coastal residents …
Property/casualty insurers remained profitable in 2008 despite taking hits from several catastrophes, the recession and the ongoing financial crisis. P/C insurers earned $2.4 billion in net income after taxes in 2008, but profits and profitability both tumbled as catastrophe losses, …
A hurricane insurance bill that would help Florida reduce its multibillion-dollar exposure in the state’s tenuous insurance market moved through a Senate committee Monday — with sparks flying. The Senate Banking and Insurance Committee approved the bill (SB 1950) on …
Citing cooler seas and the prospect of a weak El Nino, Colorado State University’s hurricane team lowered its 2009 Atlantic forecast Tuesday to 12 tropical storms, of which six could become hurricanes. The research team, founded by storm forecasting pioneer …
As 2008 Hurricane Claims Enter Court and New Season Approaches, Katrina Issues Linger The 2008 hurricane season was the sixth most active tropical storm season recorded since data collection began in 1851. Six storms made U.S. landfall in 2008. They …
The Texas insurance industry lost nearly $1.4 billion in 2008. According to figures released by the Texas Department of Insurance, for every dollar the state’s insurance industry took in it paid out $1.65. “It was a tough year for the …
A Senate committee searching for ways to improve Florida’s shaky property insurance situation and lower the state’s risk recommended borrowing money from the state retirement system to obtain some short-term relief. The proposal debated in the Senate Banking and Insurance …
