Tag: earthquake insurance

Earthquake insurance and preparedness low in Israel, despite risk

Julie Campbell
Earthquake Insurance - Earthquake aftermath - disaster - house collapse

The region typically experiences large quakes every 80 to 100 years and is now coming due. In Israel, preparedness and earthquake insurance to protect against a major quake remains too low. The State Comptroller, Yosef Shapira has now issued a warning to the country that preparedness is entirely inadequate. This is a serious problem as the country is now considered to be due for a major earthquake. Earthquake insurance coverage is only one of many steps residents and businesses could take to protect themselves. Over the last week or so,…

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Paramedic insurance coverage is broadening its importance in the United States

Logan B.
Business paramedic insurance

Experts predict that this type of policy will becoming increasingly necessary, particularly for disaster scenarios. Paramedic insurance coverage is a growing industry and experts predict that this growth will only continue to head upward. This includes in cases of U.S. disasters. In fact, the extreme weather events have been among the driving forces in insurance policies for paramedics. The many different extreme weather events and natural disasters in the United States this year have led to a rising interest in paramedic insurance. That type of coverage has already seen growth…

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Munich Re profits likely to suffer as a result of 2017 hurricanes

Marc
Munich Re profits - Thunderstorm Rolling in

Harvey, Irma and Maria will take their tolls on the insurance and reinsurance giant. One of the largest insurers in the world has stated that hurricanes would cause it to suffer a loss as Munich Re profits prove inadequate. The company said its 2017 third quarter would record a loss as a result of Hurricanes Harvey, Irma and Maria. The insurer predicts that the hurricanes would cost $3.1 billion in its covered insured damages. These damages occurred in the United States and the Caribbean and the size of the losses…

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Lloyd’s insurance claims see rapid response and payments following storms

Marc
Lloyd’s insurance claims - Home office building

The massive marketplace has reported quick customer service for customers affected by Harvey, Irma and Maria. Hurricanes Harvey, Irma and Maria left catastrophe and devastation behind, and Lloyd’s insurance claims are being rapidly processed, says the market. The company says it is responding quickly and has even made some advance payments. The storms left behind an estimated $738 million in insured damages to properties and possessions. “It is heartening to see the Lloyd’s market swing into action in this way,” said Inga Beal, the market’s chief executive, when addressing the…

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Interest in California earthquake insurance rises following Mexican tremors

Nordstrom
Los Angeles California Earthquake Insurance

The devastation in Mexico City, among other parts of the country, was eye opening to many Californians. California earthquake insurance still isn’t all that popular, but the Mexican quakes have generated a marked increase in interest. Only the minority of people in the state carry earthquake insurance policies due to the high premiums. The last major tremor that affected Los Angeles was 23 years ago. At that time, a 6.7 magnitude quake struck Northridge, killing 57 people, injuring hundreds and causing an estimated $44 billion in property damage. Since that…

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