Tag: Severe weather

Hurricane season prediction model redesigned for the U.S.

Julie Campbell
insurance news - atlantic hurricane season

AIR Worldwide has recently announced updates to its model, which now includes a range of new features. The model used by AIR Worldwide, the catastrophe risk modeling firm, for predictions with respect to the hurricane season in the United States, has now been updated to take into account a number of new features and to provide a considerable amount of additional insight. The update to the Hurricane Model for the United States now includes notably more depth and simulations. The updates to the hurricane season forecast model includes a brand…

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Predictions for the 2015 tornado season for the insurance industry and its customers

Julie Campbell
2015 tornado season insurance

The forecast has shown that it is likely that Oklahoma, Kansas, and Texas will be hardest hit. As the 2015 tornado season has already started to arrive with a frightening start, many policyholders and the insurance industry, alike, are now looking to forecasts to see what the rest of the year will be like based on the latest weather analyses. Some of the most recent predictions have said that Tornado Alley will need to be on the watch, this year. The predictions from various sources about the 2015 tornado season…

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Homeowners insurance advice issued in Georgia following powerful storms

Logan B.
Georgia Homeowners Insurance

Insurance Commissioner Hudgens provides some advice to homeowners in the state Georgia is no stranger to natural disasters, but many of its residents may not know how to handle their insurance companies in the wake of a severe storm. Several powerful storms have tore through the state in recent weeks, highlighting a lack of awareness concerning certain insurance issues. The state’s Insurance Commissioner, Ralph Hudgens, has provided some recommendations for those that have had their properties damaged by recent storms. Getting in contact with an insurance agent and documenting damage…

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Severe weather is forcing the insurance industry to look twice at strategies

Julie Campbell
severe weather storm tree power

Following three solid years of dramatic catastrophes from storms and droughts, insurers may need to re-think underwriting. Climate change and severe weather are beginning to change the size, frequency, and nature of claims that are being faced by the insurance industry over the last four to five years, and it is reaching the point that insurers are starting to be advised by national groups to begin rethinking their underwriting strategies. The insured losses are on the rise from claims resulting from storms, flooding, and drought have been. According to the…

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Severe weather brought in $109 million in insurance claims

G. Turner
hail storm severe weather damage

The storms that struck Colorado from May 20 to 22 had left considerable damage in their wake. Homeowners, vehicle owners, and business owners in Colorado all found themselves having to deal with the aftermath of severe weather, and for many, this meant that they were making insurance claims on their policies to help to cover the cost of the damage that was left behind. While some people had to contend with very heavy rain, others were battered with hail. Those who were the most unfortunate found themselves having to manage…

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