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North Carolina
U.S. earthquakes estimated to cost US$6.1 billion annually in building stock losses
June 26, 2017 by Canadian UnderwriterEarthquakes are estimated to cost the United States US$6.1 billion annually in building stock losses, according to an updated report published last week by the Federal Emergency Management Agency (FEMA). The new loss estimate represents a 10% increase over the…
National Flood Insurance Program contributes to ‘development in flood prone areas,’ NWF executive testifies
June 12, 2017 by Canadian UnderwriterPrivate insurance companies in the United States are “clamouring” to write flood risk for properties while the nation’s National Flood Insurance Program encourages development in floodprone areas and needs to be “significantly reformed,” speakers recently told a committee of the…
Aon unit pegs economic loss from Matthew at US$15 billion
April 24, 2017 by Canadian UnderwriterHurricane Matthew, which is estimated to have caused $150 million in economic losses in Canada alone and killed more than 600 in the Western hemisphere, set several records, Impact Forecasting LLC said in a report released Monday. Hurricane Matthew officially…
15 U.S. weather and climate disasters in 2016 caused US$46 billion in damages: NOAA
January 9, 2017 by Canadian UnderwriterThe United States experienced 15 “weather and climate disasters” last year – each with losses exceeding US$1 billion – for a total of US$46 billion, the National Oceanic and Atmospheric Administration (NOAA) reported on Monday. The disasters, which included eight…
States of emergency declared in Alabama, Georgia and the Carolinas ahead of winter storm
January 6, 2017 Jeff Martin and Tom Foreman Jr. - THE ASSOCIATED PRESSATLANTA – Shoppers emptied shelves of bread and milk, road workers began working 12-hour shifts, and states of emergency were declared in Alabama, Georgia and the Carolinas ahead of a winter storm stalking the South. Winter storm warnings were issued…
Hurricane Matthew causes up to US$15 billion impact to U.S. and Caribbean economies in October: Aon Benfield
November 9, 2016 by Canadian UnderwriterHurricane Matthew, which swept through parts of the Caribbean and United States last month, is expected to cost up to US$15 billion to both economies, according to Aon Benfield’s latest Global Catastrophe Recap. Released on Wednesday, the report from Aon…
Businesses plan to “invest in resilience” in aftermath of Hurricane Matthew: FM Global
October 28, 2016 by Canadian UnderwriterThe ravages of Hurricane Matthew are prompting businesses to rethink their natural hazards preparedness, with more than one out of four surveyed employees in the stricken region saying they believe their companies will increase investment in the area. The survey,…
North Carolina buildings take $1.5B hit from Matthew floods
October 17, 2016 Jonathan Drew - THE ASSOCIATED PRESSRALEIGH, N.C. – Flooding spawned by Hurricane Matthew has caused $1.5 billion in damage to 100,000 homes, businesses and government buildings in North Carolina, according to a state estimate. The figure released late Saturday represents one of the first detailed…
U.S. insurers to pay about US$7 billion for storm surge, inland flooding and wind damages from Hurricane Matthew: Karen Clark & Company
October 12, 2016 by Canadian UnderwriterBoston-based catastrophe risk management firm Karen Clark & Company (KCC) has estimated insurers will pay about US$7 billion for damages in the United States as a result of Hurricane Matthew. The estimate is based on high resolution storm surge, inland…
Insured residential, commercial property losses from Hurricane Matthew estimated to be US$4 billion to US$6 billion: CoreLogic
October 11, 2016 by Canadian UnderwriterInsured property losses for both residential and commercial properties from Hurricane Matthew are estimated to be between US$4 billion and US$6 billion from wind and storm surge damage, according to CoreLogic, Inc. Of this estimated loss, 90% of the insurance…
Nearly 2 million homes in Florida, the Carolinas and Georgia at risk of storm surge damage from Hurricane Matthew: CoreLogic
October 6, 2016 by Canadian UnderwriterNearly two million homes in Florida, North and South Carolina and Georgia are risk of storm surge damage from Hurricane Matthew as it makes its way toward the United States’ Atlantic Coast, according to new data from CoreLogic, Inc. On…
Stalled weather system and remnants of tropical storm deluge roads, close schools in Virginia and North Carolina
September 22, 2016 The Associated PressNORFOLK, Va. – Flooding in coastal Virginia and North Carolina blocked roads and forced school closings Wednesday that affected for more than 100,000 students. A stalled weather system and the remnants of Tropical Storm Julia have brought days of rain…