Hurricane flood insurance coverage not carried by many Matthew victims

hurricane flood insurance

Many of the homeowners who experienced damage from flooding don’t have the necessary coverage. Many victims of Hurricane Matthew who have never had a drop of water in their homes before are finding themselves underwater without hurricane flood insurance. Communities well inland and far from flood plains were rescued by firefighters in boats. Though the concern had been seawater driven ashore, it was rain and runoff that caused considerable flooding. Drainage ditches were overwhelmed, sending rising waters into the homes of people without hurricane flood insurance. For many of them,…

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Connecticut regulators make changes to the guidelines for hurricane deductibles for the sake of consumers

The recent events surrounding Augusts’ Hurricane Irene has prompted insurance regulators in Connecticut to take a bold stance in determining how insurers should respond to future hurricanes. The state’s Department of Insurance has begun revising a number of guidelines governing the insurance industry’ sometimes suspect hurricane deductibles. Regulators began reviewing changes to the system shortly after the storm, but only now have they reached a consensus on how far to take them. The Department of Insurance is looking to change the guidelines to make them more consumer friendly. Hurricane deductibles…

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AIR Estimates Insured Losses Will Be Less than MXN 700 Million (USD 52 Million)

BOSTON, Oct. 13, 2011 — According to catastrophe modeling firm AIR Worldwide, after, striking a sparsely populated stretch of Mexico’s Pacific coast on October 11 as a Category 2 hurricane, Jova weakened as it traveled inland towards the north, dissipating late last night over the state of Nayarit. Because it was a small storm and weakened to tropical storm strength within 12 hours of landfall, damage from Jova’s winds has been limited. AIR estimates insured losses from flood-induced damage, as well as from some isolated wind damage along southern coastal…

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