Tag: Atlantic hurricane season

Farmers Insurance Group stops selling new Florida homeowners’ policies

H. Cutner
Farmers Insurance - No more home insurance

The insurer announced that it is no longer writing new policies just as the hurricane season started. The Atlantic Hurricane Season has only just started this month, but along with it has come the announcement that Farmers Insurance Group has decided to stop selling property policies in the state. The insurer’s existing customers will still be able to keep their coverage, but new policies won’t be sold. At this time of year, many homeowners are taking the time for a last moment scramble to make sure they have the coverage…

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Most residents of high-risk flood zones don’t have flooding insurance, analysis

Logan B.
High-risk flood zones - Flooding in neighborhood

A recent study has shown that an average of 6 in 10 affected homeowners aren’t covered. Severe weather events don’t plan to take a break just because of the COVID-19 pandemic, but a new analysis shows that 6 in 10 homeowners in high-risk flood zones don’t have insurance against overland water damage. The Atlantic hurricane season starts today, and severe flooding has already started in some areas. Central Michigan, for instance, has already been affected by considerable flooding in many regions. ValuePenguin.com recently published the results of an analysis it…

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Cost of hurricanes to insurance industry will break $100 billion, JPMorgan

Logan B.
cost of hurricanes to insurance

Insurers face massive bills from the three hurricane-level storms that made U.S. landfall, even before Nate. Though it’s too early to know the insured damage total of Hurricane Nate, the cost of hurricanes to insurance industry coverage providers in the United States will already reach $100 billion, says JPMorgan. This prediction aligns with other industry players, such as Fitch Ratings. The catastrophe left behind by Harvey, Irma and Maria will be a hard hit to insurance company earnings. At the same time, it’s likely that the cost of hurricanes to…

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Hurricane insurance companies are preparing for a busier season than usual

Nordstrom
hurricane insurance companies

As Harvey makes its way closer to Texas, insurers are bracing for the impact of landfall. Forecasters and hurricane insurance companies alike are watching both Harvey and the rest of the Atlantic storms that are brewing. The season is expected to be more active than average and it is far from over. In fact, the Atlantic hurricane season has only just reached its peak and will continue until November. Many meteorologists and weather monitoring organizations have upgraded their initial forecasts for the season. Though it was originally expected to be…

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Atlantic hurricane season starts today and may be an active one

Julie Campbell
insurance news - atlantic hurricane season

North America could be in for a more active storm season in 2016 than has been the case for the last few years. The North American east coast may be getting itself ready for activity this Atlantic hurricane season, which means that residents, businesses and insurance companies on that side of the continent should likely start to keep an eye on weather reports and take the right steps to prepare. Over the last few years, major hurricanes have been few in numbers, but it only takes one to bring catastrophe.…

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