Live Insurance News

Climate change is forming a broadening insurance industry struggle

May 21, 2014May 19, 2014 G. Turner

The shift away from the traditional attitude of insurers is generating considerable controversy. While the insurance industry has traditionally been a strong supporter of the principles and behaviors of free enterprise – as it is quite the business giant – as some major carriers start to evolve their positions as a result of climate change, this has generated some disagreements to build among many of their backers in congress. Skepticism regarding the science behind the global warming claims remains among many in Congress. When it comes to the insurance industry,…

Severe weather in Georgia prompts concerns regarding homeowners insurance

May 5, 2014May 3, 2014 S.Vagus

Double checking insurance policies becomes a priority as weather conditions worsen Severe weather is expected to create some problems in Georgia. Forecasts predict that weather conditions in many parts of the state could be “very dynamic” this week. What this means is that tornados and heavy rainfall could be seen in parts of the state and these events could lead to significant property damage for homeowners. As such, Georgia Insurance and Safety Fire Commissioner Ralph Hudgens has begun offering advice to homeowners that may fall victim to property damage. Homeowners…

Insurance industry in Canada hurting from extreme weather

August 8, 2013August 5, 2013 Julie Campbell

The large number of severe storms have been taking their toll on insurers across the country. A growing number of signs of uncertainty have been popping up in the insurance industry in Canada following the storms that have been striking various areas causing flooding, hail, winds, and other damaging weather events. This was topped off when one of the major banks in the country came out with one of its own early warning signs. Only weeks after the province of Alberta was struck with historic flooding, during which time the…

Aon Benfield’s June severe weather stats show losses of $2 billion

July 16, 2012July 16, 2012 Marc

Last month experienced significant insured natural catastrophes in the United States. Aon Benfield has released its Global Catastrophe Report, which showed that in June, the losses from severe weather were nearly $2 billion in the United States alone. The report was published by Impact Forecasting at Aon, analyzing natural disasters worldwide. Among all of the severe weather events, the greatest losses were caused by the hailstorms in New Mexico and Texas, where hail the size of tennis balls hurtled to the ground, smashing their way through cars, roofs, and everything…