property insurance News

Authorities Looking for Source of Oil Spill at Florida’s Port Manatee

The U.S. Coast Guard is continuing to investigate the source of an oil spill that contaminated more than 19,000 gallons of water at Port Manatee in Tampa Bay. The spill was reported last week and crews have worked since then …

Florida Regulators Remind Insurers to Take Care of Insureds as Claims Come in

The property insurance industry breathed a sigh of relief after Hurricane Idalia landed in a less-populated part of the coast, but regulators have signaled a need to make sure that claims from the area, now topping 10,000, are taken care …

AM Best: Idalia Will Put Pressure on Underwriting Results, Could Tighten Reinsurance

Hurricane Idalia, with estimates of insured losses as low as $2 billion, will nonetheless affect underwriting results for a number of carriers, the AM Best financial rating firm said in a report released Friday. “Hurricane Idalia will most likely be …

NFL Player’s Home Explosion Caused by Natural Gas, Authorities Say

Fire investigators have determined that a natural gas explosion destroyed Tennessee Titans cornerback Caleb Farley’s North Carolina home, killing the NFL player’s father and injuring a family friend, officials announced Tuesday. It wasn`t clear where the gas leak originated, and …

Early Estimates Put Idalia’s Insured Losses at $3-9 Billion for Florida

Preliminary estimates of insured losses from Hurricane Idalia have already begun, with about $9 billion in losses predicted for Florida alone. The estimates are far lower than some in Florida had feared and well below the $60 billion in losses …

What Is it About Named Storms That Start With the Letter ‘I’ ?

Floridians, Georgians and others in the path of Idalia are hoping that the hurricane won’t join the long list of destructive Atlantic Ocean storms whose names started with “I.” Since 1955, 13 Atlantic storm names beginning with “I” have been …

Citizens Suspends Binding, Could Be Most Affected as Hurricane Aims for Big Bend

Florida property insurers were keeping their fingers crossed Tuesday as the latest projections indicated that the worst of Hurricane Idalia may miss some of the most heavily populated parts of the state’s west coast. The National Hurricane Center predicted the …

Alabama Supreme Court Says Work on New Coastal Bridge Can Resume

The Alabama Supreme Court ruled Friday that the state can continue work on a new bridge that will give motorists an alternate route to state beaches. Justices reversed an injunction issued by a Montgomery judge that had halted work on …

Third Child Dies Following House Fire in North Carolina

CONCORD, N.C. (AP) — A third child has died following a weekend house fire in North Carolina, officials said. Fire-fighting crews were dispatched to a one-story public housing duplex in Concord, northeast of Charlotte, shortly after 1:00 a.m. Sunday. Firefighters …

Victims of Deadly Smoky Mountain Fire Get Another Chance at Lawsuits

GATLINBURG, Tenn. (AP) — Victims of a deadly 2016 wildfire that began in Great Smoky Mountains National Park before it burned through a Tennessee tourist town will have another chance to seek compensation from the federal government. Several lawsuits claim …