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Natural disaster and other weather risk management news and information for property & casualty insurance professionals. Tips to prepare and minimize insurance losses, as well as weather-related insurance claim updates.
The storm came ashore in a sparsely populated area and is expected to weaken to a post-tropical cyclone.
High-exposure claims related to hurricanes continue to stretch the industry's resources.
Policyholders react to more restrictive wording and higher premiums in response to depressed carrier profits.
Early 2024 was characterized by an uptick in non-traditional CAT activity, including numerous convective storms.
Name That Storm: 'These events... had significant economic effects on the areas impacted,' NOAA reports.
More than 419,000 properties are now covered by the FAIR plan, which is one of the state's primary insurers.
Gov. Brad Little's fire-reduction recommendations spotlight the American West's tinder issues.
Move comes after roughly 17,000 Liberty Mutual customers hear they are losing fire insurance.
Two different storm systems have a 40% chance of becoming a storm in the next week.
Company spokesperson: 'We continue to offer dwelling fire coverage under our Safeco Insurance brand.'