The U.S. Coast Guard used two helicopters to rescue campers from rising waters at an RV park on the Oregon Coast Friday, mudslides shut down roads and a woman was plucked from a swollen river as a second day of heavy rains and flooding pummeled the Pacific Northwest.
Commercial insurance buyers in North America should see relief from the hard market next year with a few lines seeing flat renewals or even decreases, according to a report from Willis Towers Watson PLC.
U.S. property/casualty insurers saw their net income jump to $37.5 billion in the 2021 first half, up from $24.3 billion the year before, as the country continued to recover from COVID-19’s economic disruption.
A majority of the expected $300 million or more in damages from a severe weather outbreak in the southern plains and Midwest Oct. 10-11 was covered by public and private insurers. The storms brought damaging winds, tornadoes and large hail.
Oregon will likely file a claim on its one-of-a-kind wildfire insurance policy with Lloyd's of London. The policy will help pay for fighting fires that burned 225,007 acres of the 16 million acres protected by ODF.
Climate change hasn’t increased the frequency of hurricanes in the North Atlantic, but has increased the proportion of major storms — those that reach Category 3 to 5 intensity on the Saffir-Simpson scale.
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