Intel

Inside This Article: Researchers are anticipating above-average Atlantic hurricane activity in 2025. Hurricanes have caused more than $1.5 trillion in total damages since 1980, with an average cost of $23 billion per event. Property owners may overlook aspects of their Homeowners Insurance and Commercial Property Insurance that determine how hurricane damage would be covered, leaving them at risk for…

Key Takeaways: Catastrophic (CAT) losses in 2024 are estimated at $113 billion, driving increased demand for flexible insurance solutions. California, coastal communities, and other regions at high risk for CAT events continue shifting to the Excess & Surplus (E&S) market, where customized solutions are more readily available. Roof depreciation schedules, exclusions, and buyback options are some of the creative…

The more details shared, the better the solution. In this clip from the Burns & Wilcox Residential Property Webinar, Berri Willis, Associate Vice President, Managing Director, Burns & Wilcox, Morehead City, NC, explains how providing key client information—such as price sensitivity and priorities—enables brokers to secure the most competitive coverage for hard-to-place homes. Watch now > https://vimeo.com/1069244579/9f93056f09?ts=0&share=copy Want more insights…

The recent wildfires and extreme weather trends are reshaping the Residential Property risk landscape, making it challenging to secure coverage. Understanding today’s evolving market is key to providing the best solutions for your clients. Watch our expert-led webinar, E&S Solutions for Residential Property Risks, now available on demand. Gain valuable insights on: Strategies for securing coverage in high-risk areas How…

Below we highlight the top 5 trending intel topics in June 2022. 1. Flood Insurance Flood Modeling & Insurance Perspectives The U.S. Flood insurance market is being completely revamped with the launch of the National Flood Insurance Program’s (NFIP) risk rating 2.0, which applies risk modeling technology to evaluate exposure. Simultaneously the…

Two unoccupied homes in the Outer Banks collapsed into the ocean on May 10, with dramatic video footage showing one of the houses get rapidly swept away after the wooden stilts holding it up broke apart. The other home collapsed only hours earlier, spreading debris across a wide path and leading officials to close area beaches due to the risk…

According to the National Oceanic and Atmospheric Administration (NOAA), 2017 was the most expensive year on record for natural disasters. NOAA reported that hurricanes, wildfires and other natural events resulted in an unprecedented $306 billion in damages. As a result, globally, insurers paid a record $135 billion. Despite the staggering dollar amount, the insurance industry had the overall financial capacity…