Insurance news from Canada shows $100 million in claims from Sandy

Toronto Ontario Canada Auto Insurance News

After the superstorm pummeled through the United States, it smashed into Canadian provinces. According to the most recent insurance news estimates from Canada, after leaving the United States, superstorm Sandy led to insured property damage that will total approximately $100 million. These statistics were issued from the Insurance Bureau of Canada (IBC) based on claims received. The IBC has based this data on the claims that are being made in the Canadian provinces of Ontario and Quebec. The estimate is still considered to be preliminary, but it has now been…

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Auto insurance estimates for damage from Sandy reach 230,000 vehicles

Homeowners flood Insurance

The NICB has released its preliminary estimates from the superstorm, showing most is in NY. The National Insurance Crime Bureau has now revealed its preliminary auto insurance estimates for vehicles that were damaged when Sandy came crashing through. The NICB believes that there were around 230,000 vehicles affected by the storm. The auto insurance estimates have indicated that of that total, around 130,000 are located in the state of New York, while another 60,000 are in New Jersey. The remaining 40,000 vehicles in that total are from Maine, Washington D.C.,…

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Insurance news from Hurricane Sandy reveals many struggling with lack of coverage

Homeowners flood Insurance

Uninsured homeowners, renters, auto and business owners are facing massive losses. Though Hurricane Sandy left devastation along the eastern coast of the United States, those who are making insurance news with the most acute financial struggles are the people who did not have coverage for what was lost. Those with policies may have deductibles to face and a long road of recovery ahead, but they’re the lucky ones. When the insurance news involves individuals who have a policy, it is tragic that their home was damaged or that possessions were…

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National Flood Insurance Program takes limelight in wake of Sandy

Flood Insurance

National Flood Insurance Program could be in bad position to deal with Hurricane Sandy The National Flood Insurance Program is being put to the test in the wake of Hurricane Sandy. The federal program is responsible for the majority of flood insurance policies in the U.S., but has been facing extreme financial problems that could threaten its ability to pay claims. The program is currently crippled by massive debt and federal lawmakers have been unable to solve the problems facing the program. Now, the impact of Hurricane Sandy is finally…

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Insurance news after Sandy has stocks tripping and falling

Financial Insurance News

Despite the solid report in October, the insurers dropped sharply in the markets. Whether you call it the Superstorm or the Frankenstorm, the impact of Sandy on insurance news has been a significant one, particularly considering the damage it had on the stocks of insurers at the start of November. The Dow Jones industrial average fell by 139 points as more information about Sandy’s costs was revealed. Of course, the falling stocks were not limited exclusively to insurance news, as many large companies – such as Verizon Communications – that…

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Homeowners insurance companies help customers manage Sandy

Homeowners insurance fraud storm prevention and claims

Insurers want to make sure that policyholders know what to do after the storm. Although it is very common for homeowners insurance companies to issue statements to remind customers regarding things that they can do in order to help to prepare for upcoming storms, in the case of hurricane Sandy, they are also hoping to give policyholders some advance reminders about what they should do when the storm has passed. It is one thing to try to prevent the damage, but if it happens anyway, many customers feel lost. Pennsylvania…

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Homeowners insurance will likely not be impacted by Isaac

Homeowners flood Insurance hurricane sandy damage

It isn’t likely that premiums will change due to the hurricane in Louisiana. According to Louisiana’s insurance commissioner, Jim Donelon, the odds that hurricane Isaac will have any impact on the premiums paid by residents of the state in order to cover their homes is very slim. Donelon stated that it is now estimated that insured damage from Isaac will total $500 million to $1.5 billion. Hurricane Katrina was by far the most costly in terms of homeowners insurance costs. It brought in a total of $25 billion in damages. Rita…

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