Hurricane Irene threatens to make landfall in the U.S. this week

The first major hurricane of the season has manifested in Irene, and it has been gaining strength as it surges toward the Bahamas. Weather trackers from the National Oceanic and Atmospheric Administration are predicting that Irene may make landfall as soon as Thursday. The hurricane has been growing in strength since its formation early Tuesday and has yet to show signs of slowing. Florida will be the first state that is hit by Irene should the hurricane reach the U.S., but both South Carolina and North Carolina will bear the…

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Officials urge policy reviews due to predictions of an overactive hurricane season

In the last two months, the southern and Midwest portions of the U.S. have been pounded by a rash of tornado outbreaks. These tornadoes have caused billions of dollars worth of damages and taken hundreds of lives. Unfortunately, they have struck areas where many of the homeowners were not insured or underinsured for the amount of damage that occurred. In the past eight weeks there have been reports of over one thousand tornadoes; 960 of those reports have been confirmed. This year, the portion of the U.S. known as “tornado…

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The long debated coverage question…wind or water?

With hurricane season about to start in the U.S., many states that stand in the way of potential storms are looking for ways to improve their respective insurance industries. In Mississippi, legislators are considering a newly introduced bill that will help settle wind-versus-water insurance disputes. In the past, homes that have been destroyed by hurricanes have been the subject of dispute as to whether the majority of the damage was caused by wind or water. The bill hopes to remedy this issue by establishing a process through which insurers will…

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The numbers come rolling in for recent tornado outbreak

As the drama in the storm ravaged regions of the Southeast U.S. continues to unfold, AIR Worldwide, a leading catastrophe modeling firm, sheds light on exactly how much the disaster will cost in a new report release today. The firm estimates that insured losses in both the Southern and Southeastern U.S. could total $5.5 billion. The estimate is for the period between April 22nd and 28th, when the storms were at their peak. Representatives from AIR say they will continue to monitor the region to keep their estimates as accurate…

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Storm chasers prey on unsuspecting homeowners in times of chaos

Senate Bill 101 passed by an almost unanimous vote, sending the consumer protection law on to Missouri Governor Jay Nixon. The bill was created to protect homeowners from being ripped off by scamming contractors and home repair workers. Unfortunately, in times of disaster, some people will see it as a money making opportunity. They know that typically, after an area is hit by a natural disaster, state and government funds are poured into that region to help aid and recovery efforts. The officials call these unethical people “storm-chasers”. This is…

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Uninsured motorists are in for a surprise with new “no pay/no play” law

Kansas set to join the growing number of states adopting the “no pay/no play” insurance law in an effort to reduce the number of uninsured drivers. States across the nation are enforcing new laws in an attempt to get drivers to obtain and keep insurance. The latest statistics show around 13 percent of Kansas drivers are uninsured. While not good, it is still lower than several states, including neighboring Oklahoma, whose uninsured drivers rank over 20 percent. The property and casualty insurers’ support the no pay/no play laws and feel…

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Damage from the worst tornado season in 50 years in the billions

As the storms of the south begin to relent, residents are beginning the long, arduous path towards recovery. Insurers have assessed the extent of the damage and are reporting insured losses could cost billions of dollars. The recovery efforts will be nothing short of massive. The National Weather System has accounted for nearly 200 tornadoes having formed during the worst of the storms – the highest number of tornadoes that has occurred in the region in over 50 years. Coupled with hail and wind storms, the damage throughout the Southeast…

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