Tag: natural disasters

Insurance industry feeling pressure of more frequent natural disasters

Nordstrom
layoff employment Insurance Industry - Alberta, Canada

Severe natural disasters are causing problems for the insurance industry Severe natural disasters have been being reported in greater frequency around the world. Recent storms in the U.S. have put major strain on the insurance industry, but this is not a trend unique to the country. The Insurance Bureau of Canada has taken note of the increasing severity of weather-related disasters and has announced that it believes such disasters will become significantly more frequent in the coming years. Whether the insurance industry is capable of withstanding a high frequency of…

Read More

M6.2 Earthquake Strikes Taiwan Late Sunday Night: AIR Worldwide

Guest Author
Taiwan Earthquake

According to catastrophe modeling firm AIR Worldwide, a magnitude 6.2 earthquake struck central Taiwan Sunday night June 2, 2013, at 9:43 p.m. local time (13:43 UTC), in a sparsely populated region of Nantou County just seven kilometers (4.3 miles) northeast of a similar rupture only two months ago (M6.0 on March 27). The epicenter of the Sunday night quake was located at 23.794oN, 121.082oE, by the United States Geological Survey and estimated to be at a depth of 20 km. AIR does not expect significant insured losses from this event…

Read More

AIR Worldwide Updates Estimates of Insured Value of U.S. Coastal Properties

Guest Author
research

BOSTON, June 3, 2013 – Catastrophe modeling firm AIR Worldwide has released an update to its “The Coastline at Risk” report. The update presents and discusses AIR’s most recent estimates of the insured value of residential and commercial properties in states along the Eastern Seaboard and Gulf Coast of the United States. While above-average sea surface temperatures in the last nearly two decades have elevated hurricane activity in the open Atlantic, there is a far more certain driver of U.S. hurricane risk that the insurance industry faces. It is the…

Read More

Home warranties vs. home insurance: What are the benefits?

Guest Author
Homeowners Insurance vs Home Warranties

Owning a home comes with a lot of responsibility in terms of protecting your belongings and the house itself. Having a home warranty and insurance coverage can relieve some of the stresses that come with leaky plumbing and broken appliances. There is definitely a risk associated with choosing to use a home warranty or insurance company, but should something major happen, having one or both of these services can save a lot of money. The main difference between a warranty and homeowners insurance is that home warranties cover appliances and systems…

Read More

Homeowners insurance rates continue to grow in Florida

Logan B.
homeowners insurance

Homeowners insurance rates growing in Florida despite lack of hurricanes Florida is notorious in the U.S. as being the target for hurricanes. The state is often considered one of the most active natural disaster zones, specifically in regards to hurricanes, in the country. This has made the state relatively unattractive to the homeowners insurance sector. Because the state as a whole is considered a high-risk market, homeowners insurance companies have been wary of doing businesses in many parts of the state, particularly those close to coastal regions. Florida has, however,…

Read More