Tag: storm damage

Tenacious Isaac Continues to Deliver Heavy Precipitation to Louisiana

Guest Author
Hurricane insurance Isaac 2012

BOSTON, Aug. 30, 2012 – According to catastrophe modeling firm AIR Worldwide, by 1:00 p.m. CDT this afternoon, August 30, Tropical Storm Isaac was continuing to move slowly northwestward over northern Louisiana producing heavy rains, gusty winds, and high water levels along the northern Gulf coast. The storm, which remains very large, slowly continues to weaken. However, 36 hours after initial landfall, maximum sustained winds as reported by the National Hurricane Center (NHC) are still 40 mph. The storm is expected to continue weakening gradually and it will likely be…

Read More

Rental car insurance provided by credit cards

Why You Should Use a Business Credit Card

Is your included coverage enough, or should you take out a separate policy? It is common for credit card companies to provide rental car insurance when they are advised in advance that the vehicle will be rented, and when that account is used to pay for renting it, but many people wonder if the coverage that is provided is enough, or if they would be better off purchasing an additional policy. Many people simply purchase an additional policy because they find their credit card coverage confusing. Data from the industry…

Read More

North Carolina insurance official calls for insurers to re-evaluate claims from Hurricane Irene

Two North Carolina officials are petitioning the state’s insurance industry to return to areas impacted by Hurricane Irene in the hopes of resolving claims before winter comes in full force. Insurance Commissioner Wayne Goodwin, along with Bob Etheridge, an advisor for Governor Beverly Perdue during August’s hurricane, have written a formal appeal to FEMA to have insurers return to the state and assists with additional claims. The insurers being asked to return to the state are part of the National Flood Insurance Program, which provides insurance coverage for many households…

Read More

Property maintenance neglect by landlords revealed in insurance claims

Simply Business, the biggest business and landlord insurance broker in the United Kingdom, has released data that showed that landlords’ tightening budgets are starting to affect their ability to maintain their properties, and that the number of insurance claims made for avoidable issues such as burst pipes, leaks, damage do to frost, and problems relating to wear and tear have risen by 5 percent since 2008. This information was drawn from the claims made by more than 3,500 private landlords and indicated that the largest cause of claims is water…

Read More

Agents in Massachusetts push for insurers to discontinue their use of credit score

Independent insurance agents in Massachusetts are looking to bar credit scores from playing a part in the pricing of auto insurance. The Massachusetts Association of Insurance Agents (MAIA) is leading the charge, hoping to gain enough support from the public and insurance companies to ensure that factors like occupation, education and credit score do not contribute to the overall cost of insurance. Unfortunately, a number of prestigious insurance companies have rallied against the proposal. MAIA holds that auto insurance prices should be dependent upon an individual’s driving record, not their…

Read More

Storm chasers prey on unsuspecting homeowners in times of chaos

Marc

Senate Bill 101 passed by an almost unanimous vote, sending the consumer protection law on to Missouri Governor Jay Nixon. The bill was created to protect homeowners from being ripped off by scamming contractors and home repair workers. Unfortunately, in times of disaster, some people will see it as a money making opportunity. They know that typically, after an area is hit by a natural disaster, state and government funds are poured into that region to help aid and recovery efforts. The officials call these unethical people “storm-chasers”. This is…

Read More

Damages start to add up for recent storm disasters

H. Cutner

AIR Worldwide, a catastrophe modeling firm, is estimating that the damages from the ongoing winter storm ravaging the north-eastern United States, a storm the firm claims is the largest since the 1950’s, could be affecting more that 100 million people across 30 states. Insurers are saying the cost of damages to properties, automobiles, and persons could be as much as $1.4 billion – that would be the cost when the storm was at its peak during February 1st and 2nd. The storm broke snowfall records for most of the state…

Read More