Live Insurance News

Weather improvements ease homeowners insurance rates

July 30, 2015July 29, 2015 Julie Campbell

The cost of insuring an Ohio property may stop rising as quickly as it has been due to fewer storms. Over the last few years, Ohio property owners have been watching their homeowners insurance rates climbing upward at a sharp rate, but that may start to slow to a much more moderate increase as the weather has been easing off. The weather has been slightly kinder to Ohio residents and isn’t causing the damage that it had been. In 2014, the rates from the largest homeowners insurance companies in the…

Insurance claims in Tennessee rise following recent storms

July 23, 2015July 22, 2015 Julie Campbell

The state has been experiencing some fierce weather in certain areas, leading to thousands of dollars in damage. This summer has been quite the stormy one, so far, in parts of Tennessee, and along with that weather has come thousands of dollars in property damage which has, in turn, led to a spike in insurance claims. The state is now issuing recommendations for filing those claims, to help consumers and prevent fraud. As the state anticipates that a large number of consumers will be filing insurance claims with their providers…

Hurricane season prediction model redesigned for the U.S.

July 1, 2015June 30, 2015 Julie Campbell

insurance news - atlantic hurricane season

AIR Worldwide has recently announced updates to its model, which now includes a range of new features. The model used by AIR Worldwide, the catastrophe risk modeling firm, for predictions with respect to the hurricane season in the United States, has now been updated to take into account a number of new features and to provide a considerable amount of additional insight. The update to the Hurricane Model for the United States now includes notably more depth and simulations. The updates to the hurricane season forecast model includes a brand…

Predictions for the 2015 tornado season for the insurance industry and its customers

May 11, 2015May 9, 2015 Julie Campbell

The forecast has shown that it is likely that Oklahoma, Kansas, and Texas will be hardest hit. As the 2015 tornado season has already started to arrive with a frightening start, many policyholders and the insurance industry, alike, are now looking to forecasts to see what the rest of the year will be like based on the latest weather analyses. Some of the most recent predictions have said that Tornado Alley will need to be on the watch, this year. The predictions from various sources about the 2015 tornado season…

Homeowners insurance advice issued in Georgia following powerful storms

October 20, 2014October 19, 2014 Logan B.

Insurance Commissioner Hudgens provides some advice to homeowners in the state Georgia is no stranger to natural disasters, but many of its residents may not know how to handle their insurance companies in the wake of a severe storm. Several powerful storms have tore through the state in recent weeks, highlighting a lack of awareness concerning certain insurance issues. The state’s Insurance Commissioner, Ralph Hudgens, has provided some recommendations for those that have had their properties damaged by recent storms. Getting in contact with an insurance agent and documenting damage…

Severe weather is forcing the insurance industry to look twice at strategies

June 16, 2014June 14, 2014 Julie Campbell

Following three solid years of dramatic catastrophes from storms and droughts, insurers may need to re-think underwriting. Climate change and severe weather are beginning to change the size, frequency, and nature of claims that are being faced by the insurance industry over the last four to five years, and it is reaching the point that insurers are starting to be advised by national groups to begin rethinking their underwriting strategies. The insured losses are on the rise from claims resulting from storms, flooding, and drought have been. According to the…

Severe weather brought in $109 million in insurance claims

June 6, 2014June 3, 2014 G. Turner

The storms that struck Colorado from May 20 to 22 had left considerable damage in their wake. Homeowners, vehicle owners, and business owners in Colorado all found themselves having to deal with the aftermath of severe weather, and for many, this meant that they were making insurance claims on their policies to help to cover the cost of the damage that was left behind. While some people had to contend with very heavy rain, others were battered with hail. Those who were the most unfortunate found themselves having to manage…