Instant Insights / Managing risks this hurricane season

Here are the insights insurance pros and policyholders need to know to navigate the 2021 hurricane season.


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Damage from Hurricane Michael in southwest Georgia. (Photo: Bill Custer) Damage from Hurricane Michael in southwest Georgia. (Photo: Bill Custer)

Analysis brought to you by the tax experts behind Tax Facts, a reference solution that helps to answer critical tax questions and provides the latest tax developments. Learn more about Tax Facts here!

Editor’s Note: Under the 2017 Tax Act, individuals are no longer entitled to deduct casualty and theft loss expenses as itemized deductions for 2018-2025 (when those losses are not related to property used in a trade or business).  An exception exists for losses that occur in federally declared disaster areas.

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