Insurance companies take a powerful hit from severe weather in China

Insurance companies - flooded streets in china

Severe flooding, earthquakes, hurricanes and other disasters are leading to massive catastrophic losses. Insurance companies are feeling more than just a pinch from providing coverage in China. The country has faced massive severe rainstorms, flooding and other disasters, and they are becoming increasingly commonplace. July’s flooding in Henan broke a record for single most costly event with $1.7 billion in insured losses. This has been particularly hard on insurance companies selling property and casualty coverage, said an S&P Global Ratings report tracking losses to August 3. The rainfall in Henan…

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Delaware Governor Carney signs storm damage fund executive order

Storm damage fund - Damaged house and car

Gov John Carney’s signature created the Delaware Resilience Fund Program. Governor John Carney signed an executive order at the end of last week, which effectively created a storm damage fund to help residents to recover from the recent destructive weather. The new program is meat to help residents to overcome the costs associated with recovery. The governor’s storm damage fund is meant to help people in Delaware who are struggling to cover the cost of recovery after having faced damage from the severe storms that happened earlier in August. The…

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Insurance groups offer Texas storm preparedness tips for homeowners

Texas storm preparedness - storm destruction - homes

As the spring storm season gets fired up, insurers are hoping home insurance customers are ready. Texas storm preparedness can help to make a big difference in the risk of damage throughout the spring season. This year, insurance groups are offering policyholders added advice to help protect themselves against rains, winds and other severe weather risks. These helpful recommendations will reduce the risk of damage and make the claims process easier. The right Texas storm preparedness can make it possible for homeowners and vehicle owners to keep their property safe.…

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Direct Travel Insurance highlights the importance of disaster coverage to travelers

As a year of record-breaking natural disasters comes to a close, Direct Travel Insurance has released a statement highlighting the benefits of natural disaster coverage for travelers who will be going out of town during the holiday season. Individuals travelling for business or personal reasons over the holiday season can protect themselves against the various kinds of disruption that can be caused to travels by hurricanes, floods, earthquakes, tornadoes, wildfires, volcanic eruptions, landslides, and any number of other unforeseen events that could otherwise turn a pleasant journey into a financial…

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