Triple-I Experts Speakon Climate Risk, Resilience Hurricane Beryl’s rapid escalation from a tropical storm to a Category 5 hurricane does not bode well for the 2024 Atlantic Hurricane season, which is already projected to be of above-average intensity, warns Triple-I non-resident scholar Dr. Philip Klotzbach. “This early-season storm activity is breaking records that were set […]
Legal Reforms Boost Florida Insurance Market; Premium Relief Will Require More Time
Legal Reforms Boost Florida Insurance Market; Premium Relief Will Require More Time Legislative reforms put in place in 2022 and early 2023 to address legal system abuse and assignment-of-benefits claim fraud in Florida are beginning to help the state’s property/casualty insurance market recover from its crisis of recent years, according to a new Triple-I Issues […]
CSU Researchers Project “Extremely Active”2024 Hurricane Season
CSU Researchers Project “Extremely Active”2024 Hurricane Season Colorado State University hurricane researchers predict an “extremely active” Atlantic hurricane season in their initial 2024 forecast. The team cites record-warm tropical and eastern subtropical Atlantic sea surface temperatures as a primary factor for their prediction of 11 hurricanes this year. Led by senior research scientist and Triple-I […]
Lee County, Fla., Towns Could Lose NFIP Flood Insurance Discounts
Lee County, Fla., Towns Could Lose NFIP Flood Insurance Discounts Property owners in Lee County, Fla., could lose their flood insurance premium discounts under the National Flood Insurance Program (NFIP) Community Rating System (CRS), according to a recent announcement by FEMA. CRS is a voluntary program that recognizes and encourages community floodplain management practices that […]
Coastal New Jersey Town Regains Class 3 NFIP Rating
Coastal New Jersey Town Regains Class 3 NFIP Rating Sea Isle City, N.J., has regained its Class 3 rating under FEMA’s National Flood Insurance Program (NFIP) Community Rating System (CRS) after a brief demotion last year. Being rated Class 3 enables the coastal town’s property owners to receive a 35 percent discount on their federal […]
Chubb Highlights Perils Keeping High-Net-Worth People Awake at Night
Chubb Highlights Perils Keeping High-Net-Worth People Awake at Night According to a recent Chubb survey of 800 high-net-worth individuals in the United States and Canada, 92 percent are concerned about the size of a verdict against them if they were a defendant in a liability case – yet only 36 percent have excess liability insurance. […]