wind insurance
2011 Hurricane Season is Coming
It may seem as though winter hasn’t fully left us, and yet, we’re a mere six weeks away from the beginning of the 2011 Atlantic Hurricane Season. So, what are the weather gurus predicting for this year? According to forecasters at Colorado State University, we’ll see an above-average Atlantic hurricane season. They’re predicting nine hurricanes, […]
Read moreNorth Carolina Beach Plan to Reclaim $16 Million Distribution
Wayne Goodwin, the North Carolina Insurance Commissioner recently announced a settlement agreement that will require the North Carolina Insurance Underwriting Association, also known as the “Beach Plan,” to reverse the payments of more than $16 million it made to its member companies in 2009. The Beach Plan is North Carolina’s “insurer of last resort” for […]
Read moreNew Insurance Options for Coastal Alabama & Mississippi
Just a week after USAA dropped wind coverage from 1,550 insurance policies on homes in the three southernmost counties of Mississippi, a handful of new insurers have entered the coastal markets in that state and in Alabama. American Strategic, Coastal American, PURE, Republic, Southern Fidelity, and Wilshire are now offering coverage in both states, and […]
Read moreAlabama Wind Pool Changes Policy on Buildings In/On Water
The Alabama Insurance Underwriting Association, that states last-resort insurer for such policies, announced on Friday that it would no longer be issuing policies for buildings built over or in water. According to association manager Bob Groves, while they provide coverage for wind damage, they are concerned about water undermining the structure of buildings. Current policy […]
Read moreConnecticut Asks President Obama to Reconsider Tornado Damage Aid
Connecticut doesn’t get hit by tornadoes very often, so it shouldn’t come as any surprise that most of the state’s residents don’t have wind insurance in their homeowners coverage. After all, even in places where tornadoes happen every year, protection against severe wind storms generally comes in the form of a policy rider. It should […]
Read moreAugust Busiest Month for Hurricanes
While the National Oceanic and Atmospheric Administration (NOAA) has slightly amended the hurricane outlook it released in May, an above-normal season is still expected. With ocean temperatures at record highs, and the climate phenomenon known as “La Nina” beginning to development, government forecasters maintain that this may be the busiest Atlantic hurricane season since 2005. […]
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