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In total, insurance companies in the private flood market wrote $30.4 million in premiums last year.
The Category 4 storm caused significant structural damage and flooding in Louisiana, Mississippi, and Alabama.
Companies in the path of the hurricane will be surveying damage and filing business interruption claims in the coming weeks. Here's what you should know.
This summer has already clocked deadly floods, extreme heat and record-setting tropical storms.
Understanding the inherent risks and differences between these flooding events can help homeowners better prepare for them.
This is an opportune time for business owners to assess insurance coverage for recent weather damage and plan for related legal issues.
Expect an emergence of new private/public partnerships as a result of the coverage shortfalls revealed by the COVID-19 pandemic.
Since quarantining, roughly 20% of homeowners have experienced some form of water damage, representing 25 million U.S. households, Chubb pointed out.
More lawsuits and tightening capacity are just a few issues pushing insurance rates up. And that's without factoring in COVID's impact.
With 30 named storms, the 2020 hurricane season is now the most active on record.
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