Tag: Haiti

State Farm Faces Unprecedented Claims Surge as Hurricane Beryl Breaks Records

Marc
State Farm Claims soar from hurricane damage

Hurricane Beryl Smashes Records, Unleashing Insurance Claim Surge Hurricane Beryl has left an unprecedented mark in its wake, driving State Farm to handle over 16,000 insurance claims—a record for the company. This surge in claims was set off when Beryl struck Texas, marking the first U.S. landfall of the 2024 Atlantic Hurricane season, according to a report by AM Best. The financial fallout from this historic storm is projected to reach into the billions, reflecting widespread damage to properties and vehicles across multiple states. Initially impacting the U.S. as a…

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Microinsurance draws attention in wake of Hurricane Sandy

S.Vagus
Haiti microinsurance

Microinsurance proves to be a benefit in Haiti The U.S. was not the only country to suffer from the onslaught of Hurricane Sandy in 2012. The powerful storm also tore its way through Haiti, leaving a path of destruction in its wake. Many people lost their homes and livelihood in the wake of the disaster, but it also brought a relatively unknown type of insurance program into the limelight as well. Hurricane Sandy brought attention to the Microinsurance Catastrophe Risk Organization (MiCRO), which has been a major boon for some…

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Irene Becomes First Hurricane of the 2011 Atlantic Hurricane Season

Guest Author

According to catastrophe modeling firm AIR Worldwide, Irene became the Atlantic basin’s first hurricane of the 2011 season when its winds strengthened to 75 miles per hour at about 5:00 AM Monday morning as it was exiting Puerto Rico’s northern coast. Currently a Category 1 hurricane on the Saffir-Simpson Hurricane Wind Scale with sustained winds of 80 mph, Irene is expected to strengthen further over the next few days, potentially reaching Category 3 status by Saturday, depending on how long it remains over the ocean. “Hurricane Irene is the ninth…

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Tropical Storm Emily Set to Hit Haiti and the Dominican Republic

Guest Author

BOSTON, Aug. 3, 2011- According to catastrophe modeling firm AIR Worldwide, Tropical Storm Emily is expected to hit the island of Hispaniola-shared by Haiti and the Dominican Republic-with heavy rain and 50-mph winds this afternoon. The rainfall should worsen in the course of the day as the storm passes over the island. Current projections show the center of the storm passing close to Port-au-Prince, Haiti’s devastated capital, where 630,000 people remain without shelter after last year’s January earthquake. A tropical storm warning is in effect for both countries, for the Southeast…

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