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Power Outages Stall Houston Businesses After Beryl, Insured Losses Could Hit $600 Million

Power Outages Stall Houston Businesses After Beryl, Insured Losses Could Hit $600 Million

Some businesses in Houston, Texas, were still struggling to get back up and running as of mid-July after Hurricane Beryl left many with prolonged power and internet outages, in addition to wind- and water-related property damage. Data from CoreLogic indicates that insured properties and businesses in Harris County could face between $210 million and $600 million in damages from the…

Video: Modeling for Flood Insurance

Video: Modeling for Flood Insurance

During this webinar, our own Jacob Martin broke down the different types of modeling utilized in the Flood Insurance Market. Watch a highlight from the discussion below. https://vimeo.com/944130158/461a0a7f4a

Video: The Value of Flood Insurance

Video: The Value of Flood Insurance

During this webinar, our own Justin Pressly provided insights regarding the value of Flood Insurance. Watch a highlight from the discussion below. https://vimeo.com/944130593/cc7305f930

Video: Opportunities in the Flood Insurance Market

Video: Opportunities in the Flood Insurance Market

During this webinar, our own Sylvia Ornelas provided updates on opportunities within the Flood Insurance Industry. Watch a highlight from the discussion below. https://vimeo.com/944128988/506cc88005

Webinar: State of the Flood Market

Webinar: State of the Flood Market

During this webinar, we joined our award-winning Flood Practice Group and expert panel for a look into the current state of the flood market along with strategies for success as brokers navigate the current environment. Watch now below. https://vimeo.com/942127721/48a12ed6c8  

Report: Increasing Number of Homes Face Severe, Repetitive Flood Losses

Report: Increasing Number of Homes Face Severe, Repetitive Flood Losses

A growing number of homes covered by the National Flood Insurance Program are experiencing severe and repetitive flood losses, according to data from the Natural Resources Defense Council. The number of homes categorized as severe repetitive loss properties — meaning they have either had four or more separate building or contents claims of over $5,000, or two or more separate…

From Hurricanes to Tornadoes, 2023 Marks Another Record-Breaking Year for Severe Weather

From Hurricanes to Tornadoes, 2023 Marks Another Record-Breaking Year for Severe Weather

Severe weather continued to break records in 2023, escalating property risks for many homeowners in the U.S. as they grapple with rising costs and a shifting insurance market. A string of disastrous tornadoes in Middle Tennessee earlier this month contributed to what appeared to be the state’s deadliest December and eighth deadliest year for tornadoes, according to reports — only…

Private Flood Insurance Market Expands After NFIP Changes

Private Flood Insurance Market Expands After NFIP Changes

The marketplace for private Flood Insurance has continued to grow in the months since a new flood-risk rating system went into effect for National Flood Insurance Program (NFIP) policies. A recent report from AM Best shows that 11 new private Flood Insurance carriers entered the market between 2021 and 2022, and a total of 151 new providers have started offering…

Flood Insurance Market Overview

Flood Insurance Market Overview

Even before Hurricane Ian punctuated another active storm season in late 2022, Flood Insurance was amid a hard market. The hard market has been a result of several factors, including post-pandemic inflationary pressures, causing carriers to reduce their catastrophic exposure or exit the market altogether. One of the areas most affected by inflation has been reconstruction valuation costs, causing London…

The Flood Insurance Market

The Flood Insurance Market

During this webinar, Our experts discuss the current state of the Flood Insurance Market for both residential and commercial properties. They also review flood modeling, parametric coverage, tips on how brokers and agents can approach the challenges within this space, and more. https://vimeo.com/825984690/7c3272a447?share=copy

Florida Downpours Cause Airport Flood and Fuel Crunch, Signaling More Trouble Ahead

Florida Downpours Cause Airport Flood and Fuel Crunch, Signaling More Trouble Ahead

An unprecedented rainfall flooded parts of South Florida, grounding flights for two days at Fort Lauderdale-Hollywood International Airport while its tarmac looked “like a lake” and causing a seaport deluge that led to disruptive gas shortages. In the weeks since, officials are continuing to assess the damage and reflecting on the region’s readiness for other similar disasters. [lgc_column grid=\"50\" tablet_grid=\"50\"…

Lack of Flood Coverage Leads to ‘Heartbreaking’ Situations in Post-Hurricane Ian Florida

Lack of Flood Coverage Leads to ‘Heartbreaking’ Situations in Post-Hurricane Ian Florida

A number of homeowners around Fort Myers Beach, Florida, are expressing frustration over the status of their insurance claims related to damage from Hurricane Ian. According to a recent New York Post report, more than 25% of closed insurance claims in Lee County have been denied, over 30,000 claims are still pending, and some of the 135,000-plus claims that were…

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