Catastrophe & Restoration

In the United States, it has been a relatively quiet year for catastrophes. There were wildfires along the West Coast earlier in the year; the earthquake in Napa Valley, Calif., in August; and flooding in the Midwest, Northeast and Mid-Atlantic. The recent Polar Vortex that blanketed much of the country...

The risk of flooding in Buffalo and western New York is dissipating as state officials look to Washington for help recovering from last weeks storm, which dropped as much as seven feet of snow on the area.

Wright National Flood Insurance and U.S. Forensic, an engineering firm, were sued by New York homeowners who claim the companies conspired to manipulate reports and avoid paying for damages from Hurricane Sandy in 2012.

Carriers never seem to be comfortable with the level of catastrophe claimseither there are way too many or far too few. This Goldilocks mentality makes me wonder what level of disaster losses would be just right for the industrys bottom line.

Thanksgiving is the most dangerous time of year for kitchen fires, and deep-fried turkeys actually aren't the top risk.

Lake-effect snow that killed at least 10 people and halted travel across western New York may reach as high as 7 feet in some areas before stopping today, when temperatures will rise along with the risk of flooding.