Hurricane Season News

Figures

British weather forecasters, making their first public attempt to predict the Atlantic hurricane season, say it may be quieter than their American counterparts expect. It is most likely that 10 tropical storms will form from July to November, the British …

Builder’s risk: difficult but manageable

The rest of 2007 will continue to be a difficult time for developers and builders to secure builder’s risk insurance for their projects, at least in catastrophe prone regions. But outside of coastal areas and California earthquake issues builder’s risk …

P/C Industry Net Income, Overall Profitability Slip in 1Q 2007

The U.S. property/casualty insurance industry’s net income after taxes dipped to $15.8 billion in first-quarter 2007 from $16.7 billion in first-quarter 2006 and $17.7 billion in first-quarter 2005, according to industry analysts at the ISO and the Property Casualty Insurers …

Fla. Office of Insurance Regulation Announces Staff Changes

Florida Insurance Commissioner Kevin McCarty recently announced new staff changes for the Florida Office of Insurance Regulation. “The new additions to our management team give the Office an exceptional combination of experience, talent, and expertise; these outstanding professionals will give …

British Forecasters Predict Fewer Atlantic Storms than U.S. Teams

British weather forecasters, making their first public attempt to predict the Atlantic hurricane season, say it may be a little quieter than their American counterparts expect. It is most likely that 10 tropical storms will form from July to November, …

Damaged Bridge on S.C. Hurricane Evacuation Route to Fully Reopen

A Beaufort County bridge severely damaged less then two months ago is scheduled to completely reopen this week. Only one lane of the J.E. McTeer Bridge has been open for limited hours since the steel beams under the span were …

La. Commissioner Wants 100% Participation in Flood Insurance Program

For Louisiana Insurance Commissioner Jim Donelon in the best of all possible worlds 100 percent of the citizens in his state would have flood insurance coverage for their homes. As such, Donelon has been on a statewide “Storm Awareness Tour,” …

S&P Examines Reinsurance M&A

Among other industry topics Standard & Poor’s Ratings Services’ 2007 Insurance Conference, “In Pursuit of Sustainable Earnings,” held June 3-5 in New York City, discussed possible consolidations in the reinsurance sector. S&P has released a summary of the panel discussion …

Chertoff, Gov. Urge North Carolinians to Prepare for Hurricane Season

Gov. Mike Easley met with Michael Chertoff, secretary of the U.S. Department of Homeland Security, to discuss North Carolina’s emergency preparedness for the hurricane season that began June 1. This is the second year in a row Easley and Chertoff …

Florida to Receive over $318 Million for Recovery from 2005 Hurricanes

Florida will receive over $318 million in federal assistance to fund recovery efforts from the 2005 Hurricane Season, according to Gov. Charlie Crist. The federal legislation authorizes the Federal Emergency Management Agency to pay the entire cost of certain hurricane …