Flood insurance is an uncommon solution to a common problem in the United States

This Week’s Trending Topic: Flood insurance in the US is often misunderstood In the U.S., flood insurance is often a misunderstood issue. Many homeowners throughout the country live in regions that can be considered to be at high risk of flooding, either due to heavy rainfall or because of the region’s exposure to hurricanes. While homeowners in these regions of the country are exposed to flooding disasters, very few people actually have flood insurance protection. This could be due to a simple misunderstanding that most people have regarding their homeowners…

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Floodwaters Inundate Southern Alberta; Cleanup Continues

Floodwaters flood auto insurance claims

According to catastrophe modeling firm AIR Worldwide, heavy rainfall from June 19 to June 21 caused serious flooding across Southern Alberta, notably in Calgary. Roads and bridges were washed away; notably, the Trans-Canada Highway was damaged by mudslides west of Calgary. As of June 28, power has been restored to much of Calgary, and the Trans-Canada Highway has been repaired west of Calgary. However, many buildings in the affected area still have flooded basements, and cleanup efforts are anticipated to continue for some time. According to AIR, starting the evening…

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Heavy Rains Cause Record Flooding and Landslides across Central Europe: AIR Worldwide

Europe insurance industry Flooding and Heavy Rains

According to catastrophe modeling firm AIR Worldwide, Central  Europe has been inundated during the past several weeks with heavy and relentless rain, which has resulted in some of the worst floods seen in the area in more than  70 years. The floods have reached record levels, particularly in Germany, Austria, and the Czech Republic. Switzerland, Hungary, Slovakia, and Poland are also  affected. The heavy rains are resulting in landslides in many mountainous areas, while in the floodplains, which were already saturated due to rains in previous weeks, river levels rose…

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Holes in Homeowners Insurance Policies

Homeowners Insurance Rates

Homeowners insurance is something that every owner has to have. Your home might be your biggest asset and is probably the biggest purchase you will ever make, so it would stand to reason that you would want to protect it from unforeseen events that might harm it causing expensive damage. And you’re not the only one who wants to protect your home, at least while it’s still partially owned by the bank. While you are paying off your mortgage, you are also required to have homeowners insurance to protect the…

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Floods Associated with Ex-Tropical Cyclone Strike Eastern Australia

Floods Australia 2012 - 2013 Cyclone Season

According to catastrophe modeling firm AIR Worldwide, flooding has hit parts of eastern Australia, forcing thousands of residents to evacuate their homes. The heavy precipitation over the past week is associated with ex-tropical cyclone Oswald and was enhanced by a monsoon trough, an elongated area of low pressure that moved south along the Queensland coast into New South Wales. Floodwaters cut off rural communities, damaged homes, caused massive power outages, and disrupted coal mining operations. Water levels are slowly receding on most rivers, but dozens of flood warnings still remain…

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Hundreds of Homes Inundated as Floods Sweep Through the UK: AIR

UK Flood Car Trapped under a bridge

BOSTON, Nov. 27, 2012 – According to catastrophe modeling firm AIR Worldwide, heavy rainfall began lashing the British Isles on Thursday, November 22, prompting hundreds of warnings and alerts. As of Tuesday, November 27 at 3 PM GMT, there were 182 flood warnings, two severe flood warnings, and 225 flood alerts in place, affecting virtually every region in England and Wales. The southwest areas of England, particularly the counties of Cornwall and Devon, have thus far borne the brunt of the rainfall, with some places recording over 150 mm of…

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Crop insurance to help protect sunflower growers in Tanzania

Crop Insurance

The Handeni District in the Tanga region can now benefit from this protection from the weather. Muhingo Rweyemamu, the commissioner for the Handeni District of the Tanga region in Tanzania, has announced that there will now be new forms of crop insurance products and services available to sunflower farmers who have been struggling with unfavorable weather conditions. This micro-coverage initiative has been called the Weather Index Insurance (WII). It is being run by the Small Industry Development Organisation – International (Sido-Ifad), which has support from the Rural, Small and Medium…

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