The August 23, 2011 earthquake on the East Coast seems to have opened the eyes of the country to show them that California isn’t the only state that can experience a quake. This is making an increasing number of people wonder if earthquake insurance should be added to their coverage, even if they’re not living in a zone that they’d previously considered to be seismically active. Reports poured in from Georgia, Vermont, Massachusetts, New York, and other areas, saying that they also felt the tremors. Though there has not been…
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U.S natural disasters: How the insurance industry is faring and what consumers need to know about the future.
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,…
Read MoreEarthquake authority proposes new law to make insurance coverage more affordable
The East Coast was rattled by an unexpected and rare earthquake this week. The seismic event sowed worry amongst a populace that has never experience such a thing before. The manner in which residents of the East Coast reacted to the quake drew criticisms from Californians, most of whom are accustomed to such events. Despite earthquakes being common in the state, the California Earthquake Authority is taking this opportunity to spread awareness of earthquake insurance. Given the frequency of earthquakes on the West Coast, one would think that earthquake insurance…
Read MoreVirginia earthquake raises questions regarding the importance of insurance coverage
A 5.8 magnitude earthquake struck the heart of Virginia Tuesday, sending ripples throughout much of the Eastern U.S. Tremors could be felt as far as 100 miles away from the quake’s epicenter in Mineral, Virginia. Residents of the East Coast, whom are unaccustomed to the ground beneath their feet shaking, flocked to Twitter and Facebook to document their experiences. Tremors reached New York City, causing mild panic among those that had never witnessed such an event. The quake took its toll in Virginia, but no inordinate amount of damage was…
Read MoreEarthquakes are a major concern for most Californians, yet few have insurance to protect themselves
Hurricane season is here, bringing with it an outbreak of troublesome storms that have become the norm. Insurers along the East and Gulf Coast have been wringing their hands in anticipation of a major hurricane that could cost millions in damages. Californians, however, are not troubled by such happenings. Instead, the worry that occupies their minds is the threat of major earthquakes. Their worry seems to be justified, according to a report from the Field Research Corp., a full-service consumer marketing research firm that works with insurance companies, as relatively…
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