InsuranceEDGE | October 6, 2022 | BuildingMetrix

Punta Gorda rebuilt under stricter state codes after Hurricane Charley devastated the community in 2004.

As the drought deepens, more rural communities are running out of water.

The storm inundated the homes of thousands of Floridians who don’t have flood insurance, exposing weaknesses in the nation’s effort to address the rising costs of extreme weather.

Catastrophe modeler Karen Clark & Company said the firm estimates insured losses from Hurricane Ian will near $63 billion. 

The global insurance industry should be prepared for insured losses from natural catastrophes well in excess of $100 billion every year.

A day after Hurricane Ian hit Florida, AM Best released its scheduled market segment report of the U.S. homeowners insurance market.

Former executives and directors of Pacific Gas & Electric have agreed to pay $117 million to settle a lawsuit over devastating 2017 and 2018 wildfires.

The National Flood Insurance Program has approved a waiver that will allow some policyholders flooded by Hurricane Ian to receive advance payments.

A gun-rights group’s legal challenge to a city ordinance requiring gun owners to purchase insurance and pay a fee to a non-profit can go forward.

Embattled residents in Florida and the Carolinas face a recovery expected to cost tens of billions of dollars as some officials face criticism over their response to the storm.

Hurricane Ian is likely to place further strain on the shortage of building materials and construction labor in Florida.

While some analysts are predicting that the property insurance industry will be able to manage Hurricane Ian and its estimated $50 billion in insured losses, a few are not so hopeful. 

Cities looking to rebuild from the devastation will be financing their efforts during the worst environment for municipal borrowing in more than a decade.

Insurance Institute for Business and Home Safety’s Research Center highlights their wIldfire/ember testing.

Wind test comparing conventional Midwest construction with the FORTIFIED method of construction.

Auto insurance is huge; gross direct written premiums for the global auto insurance market rose to $822.5 billion last year.

The President signed into law a bill that will keep the federal government operational until mid-December.

Overall satisfaction for both personal and commercial lines has once again reached an all-time high, according to the J.D. Power study.

The Workers’ Compensation Insurance Rating Bureau of California released its Quarterly Experience Report, which reflects an increase in written premium.

Despite the impressive rainfall at Lopez Lake, it unfortunately will not make any sort of needed improvement in its low water level.

A wildfire that exploded in size in drought-stricken central Nebraska has destroyed much of a youth campsite.

Parts of the river are so low from weeks of drought that barge traffic is being limited at the worst possible time.