Hurricane Irene expected to birth higher insurance premiums in the East Coast

Hurricane Irene has come and gone but the storms effects may linger for several years. To date, the storm accounts for an estimated $7 billion in damages throughout the East Coast, making it one of the most costly natural disasters to strike the nation. The costs of damage are expected to influence property insurers who have long been leery of offering coverage to homes and businesses in risk prone areas. Consumers may be seeing higher premiums this year as a result of the hurricane. Higher premiums have been the theme…

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Hurricane season quickly moves in while many still pick up the pieces from the last storm

The National Oceanic and Atmospheric Administration is predicting a tumultuous hurricane season this year. The forecast, released Thursday, predicts that as many as six major hurricanes could form over the Atlantic Ocean this season. This is unsettling news for many states in the south currently struggling with national disasters of their own. Insurance companies are bracing for yet more damages. Last year’s hurricane season was relatively tame. Winds kept most tropical storms at sea and prohibited them from forming into hurricanes. “However, we can’t count on luck to get us…

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Could be just the beginning as deadly storms rip through the U.S.

Spring storms tore through the southern portion of the states last week leaving massive damage and loss of life in its aftermath. Virginia is no stranger to bad weather; over the last sixty years, they’ve had almost 600 tornados. But the previous storms were not like this one. Initial figures have eleven deaths total, and over 7.5 million in damages in one county. Virginia is used to getting thunderstorms and even tornados. However, most are EF1, or an EF2 and short lived. They don’t stay formed for very long and…

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