News & Analysis as of

Natural Disasters Insurance Industry

Ward and Smith, P.A.

What! My Flood Policy Doesn’t Cover Flood Damage?! This, and Other Pitfalls of NFIP Flood Insurance Policies

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Congress created the National Flood Insurance Program (the "NFIP") to help make flood insurance more affordable in areas prone to flood damage.  FEMA oversees the program and writes the terms of the Standard Flood Insurance...more

Walkers

Constructs in Industry Loss Cat Bonds

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Catastrophe bonds using industry-loss triggers have become increasingly popular among ILS investors and cedant sponsors. Industry loss catastrophe bonds pose less adverse selection risk from the point of view of...more

J.S. Held

CAT Season: Hazards, Resources, and How to Prepare

J.S. Held on

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

J.S. Held

Beyond the Name: Understanding the Full Impact of Tropical Cyclones

J.S. Held on

During the deep summer and early fall, all eyes are on the tropics in areas prone to hurricane activity. Most storms begin as “invests,” or areas of rain shower and thunderstorm activity that is closely monitored by hurricane...more

K&L Gates LLP

Litigation Minute: Extreme Weather and Natural Disasters: Insurance Tips for Commercial Policyholders (ESG Litigation Series: Part...

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What You Need To Know In A Minute Or Less - Storms and hurricanes, isolated but powerful tornados, earthquakes, fires, and floods—the question is not whether, but where and when policyholders will confront the next natural...more

Bracewell LLP

Hurricane Beryl: How to Maximize Your Company’s Insurance for a Faster Recovery

Bracewell LLP on

After a large storm, companies and other large organizations often face significant property damage, power outages, physical access issues, and resulting business interruption losses. A key step in recovering from a hurricane...more

Robins Kaplan LLP

California's Sustainable Insurance Strategy: Balancing Innovation with Industry Challenges

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In the fall of 2023, California's Department of Insurance unveiled the Sustainable Insurance Strategy, a comprehensive initiative aimed at reforming the state’s insurance market. The impetus for this strategy was driven by a...more

Bradley Arant Boult Cummings LLP

Sunscreen Is Not the Only Key to Avoid Getting Burned This Summer: The Importance of a Mid-Year Review of Your Insurance Policies

Summertime. The kids are getting out of school. Maybe you have a vacation planned. Down here in Florida, we make early preparations for the annual “it’s going to be the worst hurricane season on record” reports...more

J.S. Held

Severe Convective Storms and Associated Insurance Weather Risks

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Severe convective storms (SCSs) occur during all seasons in the United States. According to Aon, severe convective storms have accounted for 70% of global insurance losses in recent years, and there continues to be a rise in...more

Flaster Greenberg PC

Eight Steps to Recovering Under Your Florida or New Jersey Hurricane Insurance Policy

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The threat of hurricanes is very real for southern states from Texas to Florida and eastern states from Florida to New Jersey, New York, and even Maine during the six-month long Atlantic hurricane season, which runs from June...more

Lowndes

What Landlords and Tenants Need to Know This Hurricane Season (UPDATED)

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The 2024 Atlantic hurricane season starts this Saturday and runs until November 30. According to the National Oceanic and Atmospheric Administration (NOAA), this season is expected to be busier than usual. The increased...more

Adams and Reese LLP

Before the Storm – Tips on Business Preparation for Hurricane Season

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Hurricane season is upon us once again, and if early forecasts are correct, it looks to be a doozy. The National Oceanographic Atmospheric Administration (NOAA) released their early forecast in May with predictions of eight...more

J.S. Held

Weather Hazards & Insurance Claims Considerations Across the US

J.S. Held on

Introduction: Exploring Hazardous Weather Patterns Across the US - Every day, somewhere in the United States, some sort of hazardous weather is occurring. The vastness of the nation—from the Arctic Ocean coastline to the...more

K&L Gates LLP

Extreme Weather and Natural Disasters - Insurance Tips for Commercial Policyholders

K&L Gates LLP on

Storms and hurricanes, isolated but powerful tornados, earthquakes, fires, and floods—the question is not whether, but where and when policyholders will confront the next natural disaster. Climate change is clearly having an...more

Searcy Denney Scarola Barnhart & Shipley

Seasonal Weather Hazards and Personal Injury in Tallahassee

While we might not get snow in Tallahassee, seasonal weather hazards still play a role in our lives at various points throughout the year. Rather than snow storms, hurricanes and tropical storms are our primary concern—with...more

Pillsbury Winthrop Shaw Pittman LLP

How Your Business Can Weather Big Sur’s Latest Landslide

After heavy rains on March 30, 2024, a section of the southbound lane of famous Highway 1, which sits atop dramatic cliffs near Big Sur, collapsed and crumbled into the Pacific Ocean. The incident occurred near Rocky Creek...more

ASKramer Law

Weather & Climate Risk Management Part II: Weather Risk Management Products

ASKramer Law on

In Part I of this series on weather and climate risk management, I reviewed the context within which organizations seek to manage climate and weather-related risks. With extreme weather events becoming more common, there are...more

Cozen O'Connor

Texas Panhandle Wildfires

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Six separate wildfires, including the massive Smokehouse Creek wildfire, are burning at this time in the Texas panhandle. Hutchinson, Hemphill, Roberts, Lipscomb, and Moore counties issued evacuation orders on February 27,...more

J.S. Held

2024 J.S. Held Global Risk Report: Weather and Natural Disasters

J.S. Held on

The growing frequency and ferocity of major weather events and natural disasters have pushed the climate change discussion to the forefront of governments and businesses. Droughts, floods, wildfires, earthquakes, and volcanic...more

Cozen O'Connor

Court Finds Policy Term, “Windstorm,” to be Ambiguous in Coverage Dispute Involving Tornado

Cozen O'Connor on

In Mankoff v. Privilege Underwriters Reciprocal Exchange (2024 WL 322297 (Tex. App.—Dallas Jan. 29, 2024)), the Court determined that the term “windstorm” was ambiguous as utilized in the subject insurance policy....more

Marshall Dennehey

Florida Court of Appeals Maintains Its Position on the Presumption of Prejudice as to Untimely Notice.

Marshall Dennehey on

Arce v. Citizens Property Insurance Company, 3D22-0722 - The trial court granted the defendant’s motion for summary judgment by applying the presumption of prejudice in a case where the insureds submitted a claim for...more

J.S. Held

The Financial Toll of Unforeseen Weather Events

J.S. Held on

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

Ward and Smith, P.A.

Disasters Take Many Forms – Preparing your Community Association for the Unexpected

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Disasters, natural or otherwise, are usually unexpected and leave little time for advance action. Hurricanes, named storms, floods, fire, and even crime, are types of disasters that communities across North Carolina may...more

Ward and Smith, P.A.

The Aftermath: Recovering From a Hurricane - Update

Ward and Smith, P.A. on

Hope for the best and prepare for the worst—that's the best advice to protect yourself from hurricanes.  Despite our best efforts, there's no telling what these storms will bring when they blow through town....more

Adams and Reese LLP

Post-Hurricane Idalia Checklist for Individuals and Businesses

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In the aftermath of Hurricane Idalia, individuals and families in Florida, Georgia, and South Carolina may be eligible for federal assistance if they live, own a business, or work in the federally-declared disaster area....more

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