Tag: storm insurance

The Deep Freeze And Your Insurance Coverage

Guest Author
Insurance

Wintry weather can wreak havoc on property. Fallen power lines and tree limbs along with burst water pipes are just a few of the problems home-and-business owners face. When a winter storm hits the last thing anyone wants to do is worry about whether any damage is covered by insurance. The good news is that many times insurance does cover damage caused by storms. Damage caused to homes by ice and falling limbs is covered by homeowner’s policy, according to an article by CBC News. That’s great news for those…

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Insurance industry is seeing heightened East Asian typhoon activity

Julie Campbell
2017 atlantic hurricane season Insurance industry

Munich Re has warned that this part of the world is experiencing a growing number of violent storms. The insurance industry is recognizing a changing weather trend in East Asia, where the number of typhoons and other highly destructive, violent storms are becoming an increasingly common occurrence. The insured losses over the last thirty years in that region have passed the $6 billion mark. These costs to the insurance industry have come primarily from floods and typhoons. However, over recent years, it has become clear that this is likely to…

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Insurance industry to study U.S. and Canada’s “new normal”

Julie Campbell
Insurance Industry Hail, tornado, wind research

New research has now been funded to help to quantify the risk associated with hail, tornadoes and wind. Verisk Analytics company, Atmospheric Environmental Research (AER), has announced that it has received funding from the insurance industry and financial sector companies for a new emerging risk program being run by its scientists, called Climate Change: Tornado and Hail, in order to help to quantify any shifts that have occurred in the severe thunderstorm hazard patterns in Canada and the United States. It is believed that the result will be a “new…

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Insurance industry in Canada hurting from extreme weather

Julie Campbell
Canada flood insurance industry

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…

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Storm insurance program may be in Texas’ future

H. Cutner
Storm insurance Tropical S Don

Governor Perry has announced that the topic could be a part of the special session of the Legislature. According to Texas Governor Rick Perry, a special legislative session that is already being convened for redistricting could also include the topic of a storm insurance program for the state. This would specifically focus on the overhaul of the Texas Windstorm Insurance Association (TWIA). The TWIA is already greatly troubled, but the governor has yet to say for certain whether or not lawmakers will be discussing this storm insurance topic within the…

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