Tag: hail insurance

Insurance industry to study U.S. and Canada’s “new normal”

Julie Campbell
Insurance Industry Hail, tornado, wind research

New research has now been funded to help to quantify the risk associated with hail, tornadoes and wind. Verisk Analytics company, Atmospheric Environmental Research (AER), has announced that it has received funding from the insurance industry and financial sector companies for a new emerging risk program being run by its scientists, called Climate Change: Tornado and Hail, in order to help to quantify any shifts that have occurred in the severe thunderstorm hazard patterns in Canada and the United States. It is believed that the result will be a “new…

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Report highlights effect of natural disaster on insurance industry

Logan B.
Insurance Industry

Insurance industry continues to wrestle with catastrophes Aon Benfield’s Impact Forecasting, the catastrophe modeling division of the company, has released its latest Global Catastrophe Recap report. These reports are issued monthly and highlight the natural disasters that have occurred around the world and details what impact they may have had on the insurance industry. The latest report provides some insight on the natural disasters that struck throughout the U.S. in April. The report makes note of several severe events that have caused significant damage in some parts of the country.…

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Homeowners insurance claims pour in following hail storm

homeowners insurance hail damage storm

The widespread damage in Mississippi also lead to hundreds of auto filings within the first few hours. Within the first days following the hailstorms in Mississippi, hundreds of auto and homeowners insurance claims have been coming in due to the damage that had been left behind in the state’s capital city and surrounding areas. Authorities have yet to calculate precisely how many structures and vehicles were damaged. It looks as though Jackson and its suburbs faced the heaviest damage in the state. According to a Farm Bureau Insurance employee, Jim…

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Insurance news from Western Canada may soon involve higher rates

Julie Campbell
Insurance news

Severe summer storms in the province of Alberta caused massive amounts of insured damage. The severe storms that were faced by the Canadian province of Alberta are once again making insurance news as the millions of dollars in damages may now be sending rates in an upward direction. In August, insurers in Canada had to pay out approximately $550 million for a hail storm that hit Calgary. In July and August, the province faced three separate severe storms, which each made insurance news with their multimillion dollar price tags for…

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