Mind the Gap! Hurricanes may have significant impact on Gap coverage
Some estimates peg the number of cars flooded by Hurricane Harvey at more than a half million. So too, the number of flooded cars following Irma will be legion.
Read MoreTopic: Texas Developments
Senate Passes Bill Proposing Three Month NFIP Extension
On Friday, September 7th, the Senate passed a bill increasing the disaster aid within the National Flood Insurance Program (the “NFIP”) to $15 billion.
Read MoreHarvey, Irma and the ILS Market
Not since Katrina in 2005 has the mainland United States been witness to a category 5 storm that resulted in widespread and costly devastation. Now, first Harvey, and then Irma. What does this mean for the ILS market?
Read MoreFlood and Wind Insurance in Hurricanes Harvey and Irma
In the wake of the destruction caused by Hurricane Harvey in Texas and with the approach of Hurricane Irma to Florida, many homeowners and businesses will be contacting their insurers with flood and wind insurance claims.
Read MoreInsurers Use InsurTech To Simplify Claims Process in Wake of Hurricanes
Insurers are utilizing innovative services to assist those affected by Hurricane Harvey, as well as those who may need assistance following Hurricane Irma.
Read MoreLondon Direct and Facultative Market Affected by Harvey
Hurricane Harvey has caused significant exposure for those owning habitational accounts in London’s direct and facultative (“D&F”) market. Habitational coverage insures commercial residential properties, and each habitational account could cover hundreds of properties.
Read MoreHarvey’s Slow Pace May Spur Reinsurance Disputes over “Hours” Clauses
The residents of Texas and Louisiana have begun to assess the scope of damage caused by Hurricane Harvey. On August 25, 2017, the storm made landfall near Rockport, Texas, as a Category 4 Hurricane.
Read MoreHurricane Harvey Has and Will be a Test for Many – Including Drones
A primary use case for drones in the insurance industry is the safer, quicker and more accurate adjustment of claims. With displaced insureds, flooded streets, and significant property damage that could remain inaccessible for extended periods, the ability for insurance companies to quickly and relatively conveniently fly their drones and adjust claims will be on full display.
Read MoreYet another record-breaking storm
Hurricane Harvey has brought “500-year” rainfall and flood conditions to Southeastern Texas for the third time in three years, according to the Washington Post. How can insurers and reinsurers prepare for the next unprecedented storm?
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