Natural disasters and insurance

Insurance industry outlook

Disasters have an impact on the insurance industry Natural disasters do not only affect a certain type of person; they also have an impact on the insurance industry. It can be difficult for people to see the impact that catastrophic events have on insurers due to a general disdain for the industry as a whole. The most common response an insurer has to natural disasters, however, in the long run it does raise rates. This is something that typically attracts a great deal of attention from policyholders of all kinds. Many…

Read More

Fire insurance woes cause upset among homeowners in Colorado

Colorado homeowners insurance industry wildfires

High Park fires are now causing many policyholders to have to fight for compensation. The homeowners who lost their houses to the fires in High Park attended a Larimer County meeting in order to express their frustrations regarding the way that their wildfire insurance claims are being handled by their insurers. Many homeowners were in tears as they shared their settlement data which has fallen short of expectation. There were around 130 people in attendance, who complained about the depreciated fire insurance settlement offers that they received and which will…

Read More

High Park Fire in Colorado claimed as state’s worst in recent history

High Park Fire in Colorado satelite image

Fire continues to cause havoc in the state Colorado state officials have announced that the High Park Fire has become the most destructive fire in the state’s history. Last week, the Rocky Mountain Insurance Information Association declared this year’s fire season to be the worst it had experienced in recent history. The High Park Fire, in particular, has been a troublesome disaster that has caused significant damage to much of the state. The state’s insurance companies have mobilized to process claims and assist in recovery in the wake of the…

Read More