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Property and Casualty News

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Two storms, one story about Mother Nature's increasing fury | Editorial

December 2, 2022

The two most recent named storms to hit Florida, Ian and Nicole, frame this potential cost in terms that make it startlingly clear. Ian, which first made landfall in Florida Sept. 28, may well become known as the costliest storm in Florida's history. Florida saw at least 146 deaths, with an NBC news analysis pegging 118 of those directly to the storm.

Florida's new House speaker to create committee on hurricane recovery

December 2, 2022

TALLAHASSEE— Newly sworn-in House Speaker Paul Renner on Tuesday, said he wants to establish a Select Committee on Hurricane Resiliency and Recovery to "fortify" the state against future hurricanes in the aftermath of the two major storms that struck the state earlier this year. "Hurricanes Ian and Nicole have devastated parts of our state," Renner, R- Palm Harbor,…

Minnesota church loses insurance claim

December 1, 2022

When St. Matthews Church of God and Christ, including its drywall, was damaged by the storm in 2017, it had replacement cost coverage with State Farm Fire and Casualty Company. State Farm denied coverage for the masonry, and the District Court and the Court of Appeals agreed. State Farm Fire and Casualty Company, a 4-3 Supreme Court affirmed.

Homeowners affected by Hurricane Ian get more time to apply for federal aid

December 1, 2022

Martin said Wednesday that he has filed his paperwork with FEMA and that the agency was reviewing his claim. I’ ve been speaking to a lot of different people in a lot of different places, as you can imagine, and FEMA is about the most organized, up-to-date and way ahead of everyone else.”. Following the storm, Martin temporarily stayed with the parents of a friend, but is…

Tracking the Tropics: Lessons learned from the 2022 Atlantic Hurricane season

December 1, 2022

WFLA's Chief Meteorologist Jeff Berardelli and Storm Team 8 Meteorologist Rebecca Barry sat down with Hurricane Specialist John Cangialosi from the National Hurricane Center to recap this season's most severe storms, and what we've learned from them. Storm activity during this year's Atlantic hurricane season was slightly below average with just 14…

A post-hurricane market review points to the continuation of low inventory, high demand

December 1, 2022

Slow and steady best describes our recovery from Hurricane, the Category 4 storm that ravaged Southwest Florida on Sept. 28. It's not happening as fast as some would like, but the progression is evident, with less debris along our roadways, property damage mitigated or repaired and daily routines back to normal for many. Fortunately, Charlotte County did not…

Hurricane Ida-swamped town to get $10M from feds

December 1, 2022

More than a year after the remnants of Hurricane Ida battered New Jersey, including large portions of Manville, FEMA will provide about $10 million to help fortify the borough against future storms, NJ Advance Media has learned. According to FEMA, $60 million— $10 million for New Jersey, $40 million for Louisiana, $5 million for Mississippi and $5 million for…

Mississippi is facing severe weather. Coast could see thunderstorms, flooding

December 1, 2022

According to the Associated Press, more than 25 million people could be affected by the storm system that stretches from east Texas to Indiana and Georgia. Central Mississippi, including Jackson, Vicksburg and Yazoo City, face the highest risk for severe weather with "significant and long tracked" tornadoes possible, according to the National Weather Service.

Fire Victim Trust brings in $1 billion with PG&E stock on the rise but uncertainty remains

December 1, 2022

In the two and a half years since PG&E emerged from bankruptcy, survivors of the 2017 North Bay wildfires and other blazes sparked by the utility have found themselves tied to the financial success of the very company that harmed them. Recently, though, PG&E's stock has begun to rebound, allowing the Fire Victim Trust to sell two chunks of 35 million shares in…

Ian, Nicole warn Florida to take climate more seriously

December 1, 2022

Hurricanes Ian and Nicole put enormous stress on Florida's resiliency efforts to address the impacts of climate change and the fragile property insurance market. Losses from Nicole, a less powerful storm than Ian, were put at $790 million, according to CoreLogic, a property information and analytics firm. If Hurricane Ian had continued on its initial path…

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