Swyfft, a platform that won’t stop until it has wholly disrupted insurance as we know it, announces launch in Illinois and New Jersey
Read MoreSwyfft, the Insurance Company that Uses AI to Save Customers Money, Sets Sights on National Rollout
Tag: damage to homes
Extratropical Cyclone Xaver Moves Slowly Across Europe with Powerful Winds and Storm
BOSTON, Dec. 6, 2013 – According to catastrophe modeling firm AIR Worldwide, Extratropical Cyclone Xaver has moved across Germany, the Netherlands, Denmark, and Poland. Wind speeds were recorded at 158 km/h when the storm reached Germany and heavy winds affected the Netherlands, Poland, and parts of Scandinavia. Massive storm surges have occurred along the coasts of southeastern England, the Netherlands, and northern Germany. “Xaver developed off the coast of Greenland on December 4, 2013 and its development was enhanced by another low-pressure system, Wilhelm, which was located over the Norwegian…
Read MoreAIR Worldwide Reports from Areas Affected by Sandy
According to catastrophe modeling firm AIR Worldwide, Sandy’s diameter made it the largest Atlantic hurricane on record in terms of the span of tropical storm-force winds. The huge radius helped to keep the winds at Category 1 intensity and allowed the storm to interact with a system from the west that resulted in severe weather across a wide swath of the eastern United States. This week two AIR teams were deployed to survey damage in New York and New Jersey. Commentary in this report provide an initial glimpse into the…
Read MoreHomeowners insurance claims rise following Mischief Week in the U.K.
Estimates are saying that over five million houses have already been damaged. The most recent estimates are saying that more than five million houses in the United Kingdom have experienced damage this week, leading to another round of homeowners insurance claims related to “Mischief Week”, which includes Bonfire Night and Halloween. Predictions are suggesting that this will lead to about £1.4 billion in repair costs. This means that each affected property will receive an average of £273. The most common cause behind these damages is thrown eggs. However, 1.5 million…
Read MoreAlabama falls victim to yet another outbreak of tornados this week – estimated cost of disaster at $30 million
Birmingham, Alabama, was hit by strong winds and a number of tornados earlier this week that caused extensive damage to homes and businesses. The city was not the only place that fell prey to disaster, however, as the storms made their way throughout much of the state. Risk modeling firm EQECAT originally estimated that the disasters could cost insurers $15 million. After surveying the extent of damage, the firm has revised that estimation to $30 million. A total of ten tornados formed early Monday morning, causing havoc and alarming unprepared…
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