Live Insurance News

Flood insurance claims on their way to Canadian insurers

June 26, 2013June 24, 2013 Julie Campbell

The flooding in southern Alberta and the Calgary area may be among the most expensive natural disasters in the province. Residents and businesses in the Canadian province of Alberta are just starting to assess the damage from what is being called one of the worst natural disasters in the history of the area, and flood insurance companies are preparing for the massive influx of claims that are now on the way. The flooding that has been experienced in the region is entirely unprecedented, leaving insurers scrambling. It has been estimated…

Flood insurance may not be the best solution in Ohio

June 19, 2013June 17, 2013 Marc

Ohio lawmakers look for alternative to flood insurance In light of recent flooding disasters, as well as major natural disasters in general, state officials throughout the U.S. are beginning to take measures to mitigate the country’s exposure to these catastrophes in the future. In Ohio, lawmakers are beginning to push more aggressively for federal funding that could help bolster the state’s defenses against floods. State officials claim that flood insurance is simply not enough of a safety net for homeowners that could fall victim to flood disasters. Insurance may not…

Mayor Bloomberg looks for alternative to flood insurance

June 18, 2013June 15, 2013 Logan B.

Flood insurance may not be adequate safety net for New Yorkers New York is no stranger to hurricanes and flooding disasters, but the recent onslaught of Hurricane Sandy has sparked new action when it comes to the matter of flood insurance and protection for state residents. Hurricane Sandy dealt a terrible toll to the state, causing a significant amount of damage from strong winds and, primarily, flooding. Many homeowners throughout the state that were affected by the storm found that their properties were not protected from flood damage due to…

Flood insurance claims will reach $4 billion in Germany

June 14, 2013June 12, 2013 H. Cutner

The waters of the Danube have now swelled outward to the point that they are headed for Serbia. The latest predictions have suggested that the damage that has occurred due to the rising floodwaters in Germany are likely to bring about flood insurance claims that will reach €3 billion (approximately $4 billion). This, according to a credit rating agency’s forecasts regarding the claims made from the water damage. Though the Elbe river’s levels appear to be stabilizing in the north of Germany, further to the south, the flood insurance issues…

Disaster in Germany draws attention to flood insurance

June 13, 2013June 12, 2013 S.Vagus

Flood insurance enters limelight in Germany Over the past week, Germany has fallen victim to a catastrophic flood that has caused a significant amount of damage in some parts of the country. The flood began at the Danube River, which is the second largest river in Europe, and several other rivers quickly began to overflow. Combined, these rivers contributed to one of the worst flood disasters in Germany’s history and have put a great deal of strain on the flood insurance sector within the country. German floods expected to have…