J.D. Power and Associates has released the results of study that indicated that a sizeable percentage of consumers who are in weather disaster-prone regions do not have adequate home insurance coverage. The United States may be the richest country in the world, but severe weather can still threaten its people and businesses. There are two primary socio-economic issues that impact the amount of economic loss that results from this type of catastrophe. They are: value at risk and population exposure. The 2011 U.S. National Homeowners Insurance Study showed that even…
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Floods this summer could break records
Forecasters have predicted that this summer could be accompanied by the worst flooding the United States has seen in its history, as rivers continue to run higher than flood levels and the soil is still saturated from the spring’s rising waters. The last record-breaking floods were in 1993, when $25 billion in damages occurred between the months of April and August within nine states. According to the National Weather Service, this year, the water levels haven’t receded much and the soil remains soaked so that it would take only a…
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