Governor Christie prohibits hurricane deductibles

Governor Chris Christie Flood Insurance

New Jersey homeowners protected from hurricane deductibles by executive action New Jersey Governor Chris Christie has signed Executive Order 107, which will prohibit insurance companies in the state from imposing hurricane deductibles to homes that were damaged by Hurricane Sandy. The now notorious “superstorm” wrought havoc through much of the northeastern U.S. in late October. The storm hit New Jersey particularly hard as it made landfall, causing catastrophic damage to homes and state property. In a move to help save homeowners from the costly implications of hurricane deductibles, Governor Christie…

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Hurricane Isaac may cause $1.5 billion in damage

Hurricane Isaac Homeowners Insurance Industry Damages

Eqecat predicts the havoc caused by Hurricane Isaac Hurricane Isaac may cause more than $1.5 billion in damage as it makes its way through Louisiana, according to Eqecat, a leading catastrophe modeling firm. The hurricane, which made landfall earlier in the week, is expected to makes its way through Louisiana, Mississippi and Alabama. Thus far, the storm has caused a significant amount of damage in and has left more than 644,000 people across several states without power. Eqecat suggests that Hurricane Isaac is just reaching its stride and the storm…

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Carlotta Makes Landfall and Dissipates over Mexico’s Mountainous Terrain

Hurricane Carlotta news

Insurance News – Primary Threat from Flooding and Landslides: AIR BOSTON, June 17, 2012 – According to catastrophe modeling firm AIR Worldwide,  Hurricane Carlotta came onshore Friday night as a Category 1 storm near the Oaxacan town of Puerto Escondido (est. pop. 26,000 in 2010), about 200 miles southeast of Acapulco. According to the National Hurricane Center (NHC), maximum sustained winds were 90 mph at landfall. Given the currently available information, AIR does not expect significant insured losses from Carlotta, the third named storm of the Pacific hurricane season. “Carlotta was…

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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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What should you know about making claims following a hurricane?

Following hurricane Irene, many people are wondering how to go about making insurance claims on their policies. There are several tips that are being made by the industry to help people to get the most out of their policies and to allow them to be processed with the greatest speed and ease. The first steps include the following: • Contact an insurance adjuster as soon as possible so that they can view the extent of the damage. • Once the agent has assessed the damage, you may begin preventing further…

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Insurance companies brace for claims following hurricane Irene

Claims adjusters and other insurance company personnel are preparing to receive a flood of insurance claims now that Hurricane Irene has progressed north along the East Coast and through New England and into Canada. Insurers will begin performing their assessments as soon as the effects of the hurricane have passed through the northeastern states. If the impact of the hurricane is as wide as forecasted, the losses from insurance claims could total billions of dollars. Insurance companies appreciate the efforts that their policyholders are taking to help to keep any…

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