property insurance News

Nine People Killed in Tennessee in Powerful Tornado System that Hit Region

Nine people died in Tennessee’s McNairy County, east of Memphis, in the same deadly storm system that pounded parts of Arkansas and Illinois, according to Patrick Sheehan, director the Tennessee Emergency Management Agency. “The majority of the damage has been …

Southeast Beware: More Killer Tornadoes on the Way, Study Says

America will probably get more killer tornado- and hail-spawning supercells as the world warms, according to a new study that also warns the lethal storms will edge eastward to strike more frequently in the more populous Southern states, like Alabama, …

South Carolina Senate Moves to Ban Foreign Adversaries from Owning Land in State

South Carolina’s Republican-controlled Senate passed a bill Thursday that would bar citizens of “foreign adversary” nations from buying property in the state, an anti-espionage measure that critics fear will chill overseas investments over outsize concerns. The bill is one of …

APCIA Says Property Insurance Market ‘Hardest in a Generation’

A combination of historic high inflation and a growing frequency of natural catastrophes is creating the hardest market in a generation for property insurance, the American Property and Casualty Insurance Association says in a new white paper. “The growth of …

Georgia Lawmakers Approve Lower Uninsured Motorist Coverage for Ride Sharing

The Georgia General Assembly on Monday approved a bill that would require lower minimum amounts of uninsured motorist coverage for ride-sharing and taxi companies. But a measure that would mandate premium discounts for property owners who fortify their homes against …

North Carolina’s First Citizens Bank to Acquire Most of Collapsed Silicon Valley Bank

North Carolina-based First Citizens Bank, which also offers property and other types of insurance, will acquire much of Silicon Valley Bank, the tech-focused financial institution that collapsed this month, setting off a chain reaction that caused a second bank to …

In Filing With Regulators, Florida Citizens Wants Appraisers to Be Licensed Adjusters

Citizens Property Insurance Corp. has weighed in on a question that could shake up the appraisal process in Florida insurance claims disputes, urging state regulators to require that appraisers be licensed adjusters. In a motion to intervene in a petition …

Tornadoes Wipe Out Parts of Mississippi Towns, Leave 25 Dead

A powerful tornado tore through the Mississippi Delta on Friday night, killing at least 25 people, injuring dozens and causing widespread property damage. The weather system produced hail the size of golf balls and left entire blocks of towns virtually …

Proving Insurance Fraud: Is Metadata the Missing Piece of the SIU Puzzle?

When it comes to investigating SIU claims, metadata can be extremely revealing and may even provide evidence that a crime, such as insurance fraud, occurred. In simple terms, metadata is data that provides information about other data. The Maryland State …

AccuWeather: California Storms Added $6-8B in Damage and Economic Loss

AccuWeather issued preliminarily estimates on Thursday showing the total damage and economic loss from the series of recent intense storms to hit California to be an additional $6 billion to $8 billion. The recent storms caused deaths, widespread power outages, …