As the 2007 Atlantic hurricane season became official, Colorado State University’s well-known weather researcher William Gray stood by his earlier April prediction that this will be a storm period “much more active” than normal. His team estimates that 2007 will …
If you think gasoline prices are high now, consider the eye-popping possibilities if another monster storm pummels the Gulf of Mexico this hurricane season, the way Katrina and Rita battered the petroleum-rich waters in 2005. The petroleum industry has spent …
A.M Best Co. has issued a special report on the Bermuda insurance market, which, among other analyses, compares the disastrous 2005 hurricane season with the startlingly benign one in 2006. Between the two Best notes that the “Bermuda market reported …
Forecasts for a busier-than-normal hurricane season mean added pressure on the utility and insurance industries, but they say they’re more prepared to absorb a catastrophic hit. Power utilities have invested in hardier equipment to better withstand storms, gas utilities have …
The board of Citizens Property Insurance approved a nearly $2 billion financing plan last week that will give the state-backed company nearly $9 billion to pay hurricane damage claims this summer. Citizens, which has grown to be the largest residential …
South Carolina Gov. Mark Sanford repeated calls last week for state and local officials, not the federal government, to retain control during hurricane response efforts. The Republican governor said the lack of preparation for Hurricane Katrina in New Orleans in …
Citizens Property Insurance Corp. board of governors approved a $1.95 billion financing plan that includes a letter of credit and bond sales to cover future hurricane losses in Florida. “A great deal has been accomplished in a short period of …
Perched on the picturesque Rhode Island coastline, the 11 Newport Mansions are a national treasure. Once a summer getaway for the country’s wealthiest industrialists, today the historic mansions are a tourist attraction for 750,000 visitors each year. Yet, as lovely …
Gov. Mike Easley said he is comfortable the state could respond to a major hurricane strike, even though he has complained often that the demands of the Iraq War has left the North Carolina National Guard stretched too thin. “We …
Gov. Mike Easley has proclaimed May 20-26 as “Hurricane Preparedness Week” and urged all citizens to prepare for this year’s predicted increase in storm activity by assembling disaster preparedness kits and updating emergency plans. Hurricane season officially begins on June …
