property insurance News

Vermont’s Flooded Capital Ponders Rebuild With an Eye on Climate Change

A beloved bookstore in Vermont`s small capital city moved across the street to a new spot farther from the Winooski River after an ice jam sent river water into the store in 1992. A nearby office supply and gift store …

Skanska Must Face the Music: Maritime Law Does Not Protect it from Fla. Storm Claims

A construction company whose barges came loose from their moorings during Hurricane Sally and damaged the Pensacola Bay Bridge will have to cope with some 900 claims by businesses and other parties that say they suffered economic damages while the …

Baseball-Size Hail Makes Insuring Solar and Wind Farms Pricier

The Scottsbluff solar farm in western Nebraska was built to withstand most hailstones. But the icy pellets that rained down in late June were bigger than baseballs. The hail — part of a larger pattern of severe storms, heat and …

Winds Challenge Firefighters Battling Two California Blazes

A massive wildfire burning out of control in California’s Mojave National Preserve was spreading rapidly amid erratic winds, while firefighters reported progress against another major blaze to the southwest that prompted evacuations. The York Fire that erupted Friday near the …

Global Insurance Prices Continue to Moderate in Q2 With Exception of Property: Marsh

Global commercial insurance pricing rose 3% in the second quarter of 2023, down from 4% in Q1, according to Marsh, which pointed to two notable trends during Q2: a moderation in cyber rates and continuing challenges in property insurance, which …

Ways to Mitigate Mobile Home Wind Damage Often Ignored, Even as Deaths Rise

Rolling Fork, Mississippi (AP) — Many were not just killed at home. They were killed by their homes. Angela Eason had visited Brenda Odoms’ tidy mobile home before. It was a place where Odoms, who had many tragedies in her …

Florida’s Universal Profits Are Up as Carrier Sheds Policies, Feels Impact of Reforms

Efforts by Universal Insurance Holdings, the publicly traded parent company of one of Florida’s largest property and casualty insurers, to shed policies, spread risk and raise rates appears to have paid off so far in 2023. And recent legislative changes …

Mississippi Governor Asks for Federal Assistance After Tornado Damage

Mississippi Gov. Tate Reeves has requested financial assistance from the federal government for 16 counties hit by tornadoes and damaging storms that hammered the state over a five-day period in June, he announced Monday. Reeves` office said the state is …

South Florida Corals Already Bleaching as Water Temps Hit Record Highs

Some Florida Keys coral reefs are losing their color weeks earlier than normal this summer because of record-high water temperatures, meaning they are under stress and their health is potentially endangered, federal scientists said. The corals should be vibrant and …

Woman Forced Child to Start Fire to Collect Insurance, Georgia Commissioner Says

Georgia authorities said a 34-year-old woman has been charged with arson and child cruelty after she forced her stepchild to light fire to her home in order to collect insurance payments. Courtney Sellers, of Screven, in southeast Georgia, was arrested …