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

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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Tornadoes in Georgia cause $6 million in losses for the homeowners insurance sector

Tornado damage homeowners insurance

Several tornadoes have struck Georgia, causing significant damage in some parts of the state Six tornadoes struck Georgia early last week, five of which hit the metro Atlanta area. These tornadoes generated thousands of homeowners insurance claims and insurance adjusters were deployed to the affected areas in order to help assess t he damage that was caused. According to Insurance Commissioner Ralph Hudgens, more than $6 million in insured losses were caused by the six tornadoes. Most of the damage caused by these disasters was to homes and vehicles. Homeowners…

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Understanding Natural Disasters and the Insurance Industry

risk industry cyber insurance

Natural disasters are an inherent part of the insurance industry. They are a problem that the industry has been fighting for as long as it has existed, and the battle is fraught with conflicts that insurers often lose. There is no such thing as absolute protection from natural disasters. Floods will cause damage despite the best efforts made to keep waters at bay, earthquakes will shake buildings to rubble, and tornadoes will blow houses apart. The best that the insurance industry can do is offer aid for the recover from…

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Tornado insurance claims head to court in Oklahoma

tornado insurance Oklahoma

At least 28 homeowners who were victims of twisters are suing their insurers for inadequate payments. After devastating twisters ripped their way through Oklahoma, at least 28 homeowners have found that their tornado insurance payments have not been adequate to allow them to rebuild their homes or to move on to new ones equivalent to what they had before their lives were turned upside down. The complaint isn’t that the payments aren’t being made, but that they aren’t paying enough to compensate for the damage. One of the homeowners taking…

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State agency seeks to provide guidance on homeowners insurance issues

Illinois homeowners Insurance

Homeowners insurance confusion could be a problem for Illinois residents A powerful tornado swept through Illinois earlier this week, leaving a path of destruction in its wake. The city of Washington was one of those that suffered most from the natural disaster, which destroyed more than 500 homes and damaged property throughout the entirety of the city. The devastating event has caused some confusion concerning homeowners insurance and natural disasters, which has spurred the Illinois Department of Insurance to take action. Agency to provide one-on-one counseling sessions for disaster victims…

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