2018’s first named tropical weather system already struck Florida and states near the Gulf of Mexico. Sub-tropical storm Alberto came a full week before the official start of the 2018 Atlantic Hurricane Season and serves as an unpleasant reminder of 2017’s devastating storm impact. Last year’s hurricane season was one of the most active and destructive in recorded history, producing seventeen named storms and causing over $250 billion of damage across the Gulf Coast and Puerto Rico. And, according to the National Oceanic and Atmospheric Administration’s (“NOAA”) forecast, this year’s hurricane season could be dangerously similar.
Thursday, May 31, 2018
Tuesday, May 8, 2018
Mother Nature recently reminded California, as she often does, of how cruel she can be. In December 2017, the state experienced its largest wildfire in history. The wildfire, known as the Thomas Fire, burned more than 281,000 acres in Southern California and destroyed more than 1,000 structures. A month later, California experienced its heaviest rainfall in nearly a year. Experts posit that the heavy rains, coupled with the absence of vegetation from the fires, triggered catastrophic mudflows that killed 21 people and caused significant property damage to homes and infrastructure.
Tuesday, May 1, 2018
As Texas continues to rebuild in the aftermath of Hurricane Harvey, the extent of the damage Harvey left in its wake is just now being realized. To date, private insurers have seen more than 670,000 property insurance claims resulting from Harvey. The Texas Department of Insurance reports that insurers have paid out more than $4.5 billion in Harvey claims, with the expected number projected to increase to $15.7 billion by the time all claims are reported and settled. Of these claims, more than 354,000 are residential property claims, and around 37,000 are commercial property.