Insurance Companies to Disclose Climate Change Risk

US insurance regulating body, National Association of Insurance Commissioners (NAIC), now demands insurance companies to disclose how climate change will affect them. NAIC is aware of the huge risk that environment change entails, however it lacks information of how the insurance industry is planning to respond. Concerns are the availability and affordability of [...]

California: San Francisco Bay Area’s Huge Flood Control Cost

The Pacific Institute in Oakland, California, explains in its state-commissioned report that California needs to invest about $14 billion to protect its coastal regions by the end of the century. Furthermore, it will need a further $1.4 billion/year thereafter for maintenance.
California faces either costly or dramatic times ahead in its control of the [...]

2008 Costly for Hurricane Insurance, Storm Insurance & Other Catastroph Insurance

AMRE / Munich RE reports:
“The very high natural catastrophe losses incurred in 2008 again show the crucial importance of risk research for the insurance industry. In its annual review published today, “Topics Geo – Natural catastrophes 2008″, Munich Re’s geo risks experts take an in-depth look at Hurricane Ike – with losses of US$ 15bn, [...]

AIA Opposes State Catastrophe Fund

The American Insurance Association (AIA) provided testimony today in opposition to Connecticut Senate Bill 530, legislation that would establish a state-mandated catastrophe (CAT) fund in Connecticut. The testimony was presented at a hearing before the Insurance and Real Estate Committee.
“Natural catastrophe remains a manageable and insurable risk for private insurers, provided they have the proper [...]

Determine Your Flood Damage Costs with this Tool

“Two inches of flood water can cost you $7,800.” estimates the National Flood Insurance Program established by the US Federal government. Even a few inches of flood waters can cause extensive flood damage to your home.
The National Flood Insurance Program was established to help people recover from floods by offering them affordable [...]

Home Insurance Risk For Flood Plain Areas

The insurance industry has warned that many new homes could be left on the housing market and become un-insurable unless the government introduces new rigid planning controls for flood risk areas.
By the year 2020, a third of the 3 million proposed homes set to be built in Britain, could be on a flood plain according [...]

Categories For Water, Flood Or Sewage Damage – 3 Types Of Categories For Your Insurance Claim

There are three important categories to help restoration contractors and insurance adjusters to determine the job area and the procedures that will be needed to achieve safe and effective flood or water restoration of structures and contents. Water damage restoration is divided into three basic categories for a typical water damage project.
category 1– clean water.
Examples [...]

North Pacific Cyclone Activity Expected Close to Normal

The region will experience 30 tropical cyclones and 19 typhoons, which is considered average or slightly above average, The latest updated prediction of seasonal tropical cyclone activity for the North Pacific this year by Reinsurance broker Guy Carpenter & Co llc predicts.

The report indicates La Nina, which was strong in 2007, is weaker this [...]

Filing a Flood Insurance Claim

This home insurance article explains how to file a property insurance claim and also how to best prepare yourself for when the eventuality arises whereby you need to lodge a flood insurance claim, disaster insurance claim or other home owner’s insurance claim.
Flood Insurance Claim Filing Steps
The claim filing steps to take according to US national [...]

Emergency Watershed Relief for Flood Affected Farmers & Counties

Financial and other emergency support is immediately available in Indiana for both individual farmers and counties affected by floods. 28 Indiana counties are declared as primary disaster areas, and an additional 25 counties as contiguous disaster area.
USDA support available to them include:
Financial Assistance for Flooded Farms
Individual farmers in primary and contiguous counties can seek [...]

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