The Calm Before the Storm: Planning for Catastrophic Weather Events
Catastrophic events (CAT) include hurricanes, floods, landslides, tsunamis, volcanic eruptions, earthquakes, tornados, and wildfires (See Figures 1-4 below). “CAT season” is the phrase experts commonly use to describe the...more
Escalating Impacts of Catastrophic Weather - Large insurance losses are increasingly being caused by hazardous weather events such as hurricanes, floods, lightning strikes, high winds, large hail, and wildfires....more
Hurricane Ian brought “fierce winds, unrelenting rains and catastrophic flooding to southwest Florida. As Ian approached, Florida, Governor Ron DeSantis acknowledged that, “We all need to work together regardless of party...more
In this episode of “Don’t Take No for an Answer,” hosts Lynda A. Bennett and Michael Lichtenstein of Lowenstein’s Insurance Recovery Group provide recommendations for preparing corporate insurance policies for the next...more
IN RESPONSE TO RECORD-BREAKING FIRE LOSSES IN 2017, THE CALIFORNIA GOVERNOR SIGNED THE INSURANCE ADJUSTER ACT OF 2019 INTO LAW ON OCTOBER 3, 2019, WHICH NOW TAKES IMMEDIATE EFFECT TO GOVERN THE USE OF OUT-OF-STATE ADJUSTERS...more
One of my recurrent business themes is the need for businesses to try to plan for unanticipated events that could devastate the business and destroy shareholder value. The event that convinced me of the need for formal...more
Insurers and policyholders should heed the critical insurance issues that arise in the aftermath of natural disasters....more
The United States experiences a large number of hail events, but hail can occur anywhere in the world – especially in areas near mountainous terrain. Western China and northern India experience hail quite frequently, as do...more
In the last decade, Disaster Recovery (“DR”) and Business Continuity Planning (“BCP”) have become “hot” topics, as companies attempt to deal with disasters and the associated business risks. “Force majeure” is a legal concept...more