North Carolina insurance official calls for insurers to re-evaluate claims from Hurricane Irene

Two North Carolina officials are petitioning the state’s insurance industry to return to areas impacted by Hurricane Irene in the hopes of resolving claims before winter comes in full force. Insurance Commissioner Wayne Goodwin, along with Bob Etheridge, an advisor for Governor Beverly Perdue during August’s hurricane, have written a formal appeal to FEMA to have insurers return to the state and assists with additional claims. The insurers being asked to return to the state are part of the National Flood Insurance Program, which provides insurance coverage for many households…

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East Coast snow storm causes havoc in New York – insured losses estimated in the billions

 The East Coast has been assaulted by a violent and unprecedented snow storm. The storm moved in last week ahead of Halloween and the effects were most acutely felt in New York City. The insurance industry is still reeling from devastating natural disasters that occurred earlier in the year, many of which cost billions of dollars in insured losses. According to government officials, the storm has become the 11th economic disaster hitting the nation this year. Thus far, the storm has claimed eight lives and left 2.2 million people without…

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Heavy Rains Cause Flash Flooding in Ireland, Southwest England and Wales

According to catastrophe modeling firm AIR Worldwide, torrential rainfall has caused widespread disruption and damage on both sides of the Irish Sea, although the Dublin area has been the hardest hit. The flooding was triggered by an active frontal wave moving north to south through eastern Ireland. Flood waters have inundated Dublin and surrounding counties, forcing the evacuation of hundreds of homes and businesses. Sandbags were deployed in coastal regions as there were fears a late high tide would penetrate low-lying areas. Flooding backed up drainage systems and caused transportation…

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Hurricane Rina Continues to Intensify, Yucatan Landfall Expected Later This Week

BOSTON, Oct. 25, 2011 – According to catastrophe modeling firm AIR Worldwide, Hurricane Rina, the 17th named storm and the 6th hurricane of the 2011 Atlantic hurricane season, is on course toward the resort-lined coast of Mexico’s Yucatan Peninsula. The Category 2 storm has caused widespread disruption to cruise itineraries in the Caribbean, and the Mexican government has issued a hurricane warning for the east coast of the Yucatan Peninsula from Punta Gruesa to Cancun. Officials have initiated widespread storm preparations. Rina is not expected to affect oil and gas…

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Floods in Thailand claim hundreds of lives and displace thousands more

Devastating floods struck Thailand last week and threatened to cause catastrophic damage to the nation’s capital, Bangkok. The floods are the result of heavy rainfall and violent storms that have been occurring throughout the country and in neighboring Myanmar. The recent floods are the worst the country has experienced in over 50 years and have killed more than 350 people thus far. Thousands more have been displaced as the relatively few insurance organizations operating in Thailand attempt to mitigate the disaster. The Thai government, led by Prime Minister Yingluck Shinawatra,…

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AIR Estimates Insured Losses Will Be Less than MXN 700 Million (USD 52 Million)

BOSTON, Oct. 13, 2011 — According to catastrophe modeling firm AIR Worldwide, after, striking a sparsely populated stretch of Mexico’s Pacific coast on October 11 as a Category 2 hurricane, Jova weakened as it traveled inland towards the north, dissipating late last night over the state of Nayarit. Because it was a small storm and weakened to tropical storm strength within 12 hours of landfall, damage from Jova’s winds has been limited. AIR estimates insured losses from flood-induced damage, as well as from some isolated wind damage along southern coastal…

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Hurricane Jova Makes Landfall on Mexico’s Southwest Pacific Coast; Has Since Decreased to Tropical Storm Strength

BOSTON, Oct. 12, 2011 – According to catastrophe modeling firm AIR Worldwide, Hurricane Jova made landfall as a Category 2 storm in a sparsely populated stretch of the Mexican state of Jalisco, near the town of Chamela at 23:00 local time yesterday (6:00 UTC today). Maximum sustained winds at landfall were nearly 100 mph, as originally forecast. High waves and heavy rain were also reported. “Today, Jova’s most significant threat is that from precipitation; even prior to making landfall, Jova’s outer rain bands brought heavy rainfall to Mexico’s southwest coast,”…

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Hurricane Jova Poised to Make Landfall on Mexico’s West Coast

BOSTON, Oct. 11, 2011 — According to catastrophe modeling firm AIR Worldwide, with its outer rain bands already bringing heavy rainfall to Mexico’s southwest coast, Hurricane Jova is poised to make landfall as a strong Category 2 hurricane in Jalisco state this afternoon or early evening between the port city of Manzanillo in Colima state in the south and the resort city of Puerto Valarta in the north. “Hurricane Jova is moving toward the northeast at about five mph, and this forward speed is expected to increase slightly today,” said…

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Hurricane Jova Heads Toward Mexico

According to catastrophe modeling firm AIR Worldwide, Jova, the ninth hurricane of the eastern Pacific season and the tenth named storm is 250 miles southwest of the port city of Manzanillo (population 100,000) in the state of Colima, Mexico. As of the National Hurricane Center’s 8:00 a.m. PDT advisory today, the storm is tracking east at 5 mph. Having undergone significant intensification overnight, maximum sustained winds are now 125 mph with higher gusts. “The storm is a significant threat because it is slow-moving, and the potential exists for major flooding…

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2011 breaks record for most federal disaster declarations in nation’s history

This year has broken the record for federal disaster declarations according to the Insurance Information Institute, and the year is not over yet. While 2010 may have set a new record for the number of declared disasters in the nation’s history, 2011 has shattered that record in both number and cost. With three months left in the already infamous 2011, analysts are concerned that more natural disasters could be on the way as a final farewell to the year. With two consecutive years of costly catastrophes, many wonder what is…

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