The storm is currently forecast to move inland over southeastern Texas or southwestern Louisiana Thursday. Heavy rain is expected across parts of Louisiana, Mississippi, Alabama, Florida and Texas.
Entergy Corp. agreed to review fire safety measures at all its nuclear reactors after an investigation by federal regulators found that workers at one plant failed to follow rules and falsified records.
Weather reports are calling for low chances of precipitation and temperatures in the 40s for the day of Super Bowl XLVIII. The report is welcome news to an insurance industry that has been worrying about the cancellation of the game due to severe weather.
Two consecutive winter storms have put the Midwest and South on high alert as heavy snow, ice and freezing rain that began a trek across the country on Wednesday show no signs of abating until late next week.
Severe storms spawned a dozen reported tornadoes in Oklahoma and Arkansas on May 30, injuring at least five people and sending residents scrambling for cover 10 days after a powerful twister killed 24 people in Oklahoma.
AIR says the estimate of between $700 million and $2 billion includes insured losses from damage residential, auto, commercial and industrial properties and contents as well as additional living expenses and business interruption-related losses.
Packing more of a punch than anticipated, Isaac has already caused widespread power outages affecting over half a million people and tested New Orleans' multibillion-dollar post-Katrina levee system.
Reinsurers say companies worldwide have suffered intensifying weather-related losses in the past three years, but less than a third of them are actively responding to the riskincreasing the likelihood those companies will be unprepared to deal with the economic impact of more frequent and severe weather events.
Reinsurers say companies have suffered intensifying weather-related impacts in the past three years, but fewer than a third of those companies are actively responding to the risk, increasing the likelihood that companies will be unprepared to deal with unimaginable environmental coverage and loss costs.