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Estimate of Losses From Devastating Hawaii Wildfires Increases to $14B-$16B
Aug 14 2023 // AccuWeather increased its estimate of the total damage and economic loss from the devastating wildfires burning in Hawaii to $14 to $16 billion. The update follows AccuWeather’s preliminary estimate last week of...
Rising Flood Risks Threaten Many Water and Sewage Treatment Plants
Aug 14 2023 // The crack of a summer thunderstorm once comforted people in Ludlow, Vermont. But that was before a storm dropped eight inches of rain on the village of 2,200 in two days last month. And it was before the devastation of...
NOAA Increases Prediction for Atlantic Hurricane Season to “Above-Normal”
Aug 11 2023 // The National Oceanic and Atmospheric Administration is increasing its prediction for the ongoing 2023 Atlantic hurricane season to “above-normal” activity. Warmer-than-normal sea surface temperatures across...
Surplus Lines Premium Increases 16% to Nearly $36 Billion Through June
Aug 10 2023 // Surplus lines premium reached nearly $36 billion through the first six months of 2023, according to the 2023 Midyear Report of the U.S. Surplus Lines Service and Stamping Offices. Premium increased about 16% overall...
Lloyd’s Leads Insurers in Raising Rates, Cutting Taiwan Cover as Conflict Risks Rise
Aug 10 2023 // Lloyd’s of London underwriters are leading insurers in raising rates and cutting the amount of cover they offer for risks involving Taiwan as concerns grow over possible military action by China, industry sources...
NC DOI Arrives at 4.5% Increase in Auto Rates for Next Two Years, 9.9% on Dwelling
Aug 9 2023 // North Carolina’s insurance commissioner has negotiated a smaller increase on auto insurance rates than the state’s rating agency had requested. The North Carolina Rate Bureau in February requested an average...
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