Wilkes-Barre tornado victims get helpful tips and advice from Allstate

Wilkes-Barre tornado - Tornado Damage

The insurer reached out to residents of the township to offer them safety and coverage tips. Allstate issued some important advice to those affected by the Wilkes-Barre tornado last week. It reminded customers that their safety should come before anything else when returning home. Homeowners may be keen to assess possible damage, but Allstate reminds them to be cautious. The Wilkes-Barre tornado caused notable damage to the township. That said, the Allstate report reminds customers that when they return home, the damage may create unexpected dangers. Therefore, homeowners should first…

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Wildfire insurance problems persist 2 years after Canadian Fort McMurray Disaster

Wildfire insurance problems - Forest Fire

After flames ripped their way through entire neighborhoods of the Alberta town, rebuilding is been slow. Two years after the devastating Fort McMurray fire in Canada, wildfire insurance problems continue to plague homeowners. In fact, only 20 percent of the destroyed homes are rebuilt. The northern Alberta saw 2,579 homes completely destroyed by the wildfire that struck in 2016. The destruction produced the highest wildfire costs in Canada until that time, as Live Insurance News reported. Donations to support those whose homes were ravaged poured in from across the country…

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California wildfire insurance stirs up heat between industry and state lawmakers

California wildfire insurance - forest fire

The state Senate Insurance Committee is taking on the insurance industry regarding this coverage. California wildfire insurance was a hot topic, so to speak, between insurers and the State Insurance Committee. The committee is chaired by Senator Steve Glazer (D), widely considered to be the most moderate senator in the upper house. The Senate Insurance Committee voted on to bills that will dictate the future of wildfire coverage. The vote took place on Friday for the two bills. These bills were designed to make significant changes to the way California…

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Climate change will be challenging for insurance companies, says Moody’s

Climate Change - Insurance - Earth in Flood and Fire

A new report revealed the impact of warming climates worldwide on the insurance industry. The impact of climate change on the economy will have an increased liability risk for insurance companies. Catastrophes related to extreme weather are becoming more severe and frequent, according to a Moody’s Investors Service report. The report pointed to the rising instance of weather disasters like Hurricane Harvey in 2017. Moody’s Investors Service recently released a report. It investigated the economic aftermath of climate change. Insurance companies will face an increased liability risk from more frequent…

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Insurance news made as Africa seeks epidemic disaster coverage

health insurance news ebola hazmat isolation quarantine

Countries in that continent are now looking to broaden a catastrophe protection fund for emergencies like Ebola. African countries are in insurance news headlines as they now seek to widen a new type of catastrophe fund, which has already made its first payout, as of January, which was for $25 million. The catastrophe insurance fund is meant to provide protection against Ebola-like outbreaks. This insurance news could mean that countries that face catastrophes such as the devastation left behind by the Ebola outbreak in several African countries, could receive payouts…

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