Tag: Severe weather

State Farm Reports Claims Amid Midwest Weather Tragedy

Angela Linders
hail storm damage

Severe Weather Ravages Midwest, Leaves 27 Dead A brutal series of storms swept through the Midwest on May 16 and 17, 2025, leaving devastation and heartache in its wake. Tornadoes carved paths of destruction in Kentucky and Missouri, while hailstorms pounded parts of Illinois and Indiana. The death toll? A staggering 27 people lost their lives, with 18 deaths reported in Kentucky and 7 in Missouri. What caused all this chaos? It wasn’t just one type of storm. Kentucky bore the brunt of deadly, long-track tornadoes, particularly in Laurel County,…

Read More

Tornado Outbreak in the Midwest Leaves Devastation in Its Wake

Marc
Tornado Outbreak

The Human Cost of Tornado Devastation Over the course of three harrowing days, a series of tornadoes tore across nine states in the Midwest and South, leaving heartbreak and destruction in their wake. The storm system, which spawned over 50 tornadoes ranging in strength from EF-2 to EF-4, claimed more than 40 lives. Communities—from small towns in Missouri to remote hamlets in Mississippi—are now grappling with the aftermath of this natural disaster. Among the hardest-hit areas was Mississippi, where an EF-3 tornado tore through the small community of Plantersville. Winds…

Read More

Why Louisiana Is One of the Most Expensive States for Insurance

Live Insurance News
Louisiana - the Most Expensive States for Insurance

Legislative Efforts in 2024 Signal Progress, but Challenges Remain Louisiana’s insurance market has long been fraught with challenges, and while legislative reforms in 2024 represented a step toward stabilizing the market, deeper systemic issues still require attention. According to the Insurance Information Institute’s (Triple-I) recent report, Trends and Insights: Louisiana Insurance Market, residents continue to face some of the highest auto and homeowners insurance costs in the nation. Triple-I’s findings revealed striking numbers that underscore this affordability crisis. For auto insurance, the average annual expenditure in Louisiana stood at $1,588…

Read More

Grapefruit-Sized Hail? Climate Change Could Bring Giant Ice Stones

Ester Adams
Grapefruit-Sized Hail

Introduction to the Giant Hailstones Study A new study published in the journal npj Climate and Atmospheric Science covered by USA Today predicts an increase in ice stones larger than two inches as a result of climate change. This situation could pose challenges for individuals with hail-damaged cars, including dents and shattered windshields, as well as for the auto insurance industry, which has been implementing record rate increases in 2024. Is there a connection between these two issues? Climate Change and Hailstone Growth The study, co-authored by Victor Gensini, an…

Read More

Louisiana’s Bold Repeal Sets Stage for Insurance Market Overhaul

Marc
Insurance Market - Louisiana - Home - Repeal

In a decisive move, the Louisiana Legislature repealed a longstanding law on Monday, signaling significant changes for homeowner insurance policies across the state. The decision, part of Insurance Commissioner Tim Temple’s ambitious agenda, aims to introduce more competition in the insurance market, potentially providing Louisiana homeowners with options for lower premiums. House Bill 611, pushed by Rep. Gabe Firment, R-Pollock, garnered final approval and now awaits the signature of Gov. Jeff Landry. This bill notably targets Louisiana’s unique three-year rule prohibiting insurers from altering deductibles or discontinuing homeowner policies that…

Read More

Climate change and severe weather could increase insurance rates for everyone

Nordstrom
climate change extreme weather drought storms

Even homeowners who don’t reside in areas struck by recent hurricanes could feel the pinch. Homeowners across America wouldn’t likely be surprised to hear that climate change and the severe weather coming with it could raise insurance rates in areas like Florida and Texas. That said, just because an area wasn’t struck by Harvey or Irma, it doesn’t mean rates won’t rise there, too. Motorists and homeowners throughout many U.S. states will likely watch premiums rise over the next while. Insurance companies are being increasingly affected by climate change. Severe…

Read More

Rising extreme weather risk places property insurance in uncomfortable position

Nordstrom
extreme weather risks trend insurance industry

An increase in severe storms, flooding, wind, wildfires and other disasters are driving claims skyward. Flooding and wildfires are making massive headlines this summer and this extreme weather risk is placing considerable pressure on the property insurance industry. These types of disaster are spiking the number and cost of business and homeowners insurance claims. In fact, the extreme weather risk may have a greater economic toll on the insurance industry than any other industry in the world. Though insurers have been increasingly aware of the threat of climate change with…

Read More