As Hurricane Irene barrels down on the East Coast, Chris Hackett, Director of Personal Lines Policies for The Property Casualty Insurers Association of America (PCI), has quite a few things to say concerning insurance and how people will be affected by the storm. We were able to ask Mr. Hackett about current, past and even future potential natural disaster events that we all should prepare for. Here is what he had to say: Live Insurance News – With hurricane Irene beating down on the Carolinas, and maybe even New York,…
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Hurricane Irene Expected to Make Landfall in North Carolina before Tracking on to
BOSTON, Aug. 26, 2011 – According to catastrophe modeling firm AIR Worldwide, parts of the southeastern United States were already experiencing dangerous swells and rip tides yesterday as Hurricane Irene exited the Bahamas. Presently, ahead of Hurricane Irene’s forecasted arrival in North Carolina tomorrow, high waves and storm surge are beginning to impact the state’s Outer Banks. As of the National Hurricane Center’s (NHC) 11:00 am advisory, Irene-now a Category 2 storm (down from Category 3 status yesterday)-is 330 miles south-southwest of Cape Hatteras, North Carolina, tracking north at 14…
Read MoreAIR Worldwide Estimates Insured Losses in the Caribbean from Hurricane Irene at
BOSTON, Aug. 26, 2011 -AIR Worldwide estimates that insured losses in the Caribbean from Hurricane Irene will be between USD 500 million and USD 1.1 billion. AIR expects the Bahamas will account for more than 60% of the insured loss-between USD 300 million and USD 700 million. This estimate includes wind and precipitation-induced flood damage to insured onshore residential, commercial and industrial properties (and their contents), automobiles, and business interruption losses in the Bahamas, Puerto Rico, Dominican Republic, Turks and Caicos, and other Caribbean territories. Hurricane Irene has exited the…
Read MoreThe role of travel insurance in the hurricane season
As Hurricane Irene makes its way nearer to the American mainland over the Caribbean islands, travel agents are taking this time to inform their customers about the importance of travel insurance for hurricanes, while answering questions and selling the policies. In order to make sure that their customers are covered for a weather event, travel agents need to make sure that the insurance was purchased a minimum of one day before the U.S. National Weather service has spotted and given a name to the tropical storm or hurricane. This will…
Read MoreIn the Northeast residents without flood insurance may be in for a rude awakening
A major hurricane has not made landfall on U.S. soil since 2008, but Hurricane Irene has broken that period of peace. As the first real hurricane of a supposedly active season, Irene seems to be making up for lost time. The storm has already reached Category 3 and is expected to reach the Carolina’s by Thursday. The hurricane will continue moving north, making its way through Long Island, New York and other states. The coming storm has raised concerns regarding insurance coverage as many come to the dire realization that…
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