The private insurance market cannot solely bear the risk associated with terrorism, making the need for a terrorism backstop like that provided by the Terrorism Risk Insurance Act (TRIA) essential, the insurance industry said.
The Institute for Business & Home Safety (IBHS) and the Federal Alliance for Safe Homes (FLASH) will partner to promote an IBHS construction program for homes and commercial buildings that are vulnerable to disasters.
With forecasters predicting 15 named storms forming in the Atlantic basin between June 1 and Nov. 30, the Institute for Business and Home Safety (IBHS) has listed its top four myths in preparing structures for hurricanes.
With weather forecasters calling for a worse-than-average 2010 Atlantic basin hurricane season, the Institute for Business & Home Safety (IBHS) provided the following list of ways to protect a structure in such a disaster:
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Researchers said by summer's end they plan to start extensive tests on a gigantic new facility that will try to blow apart houses to gauge the effects of hurricane winds.
Researchers said by summer's end they plan to start extensive tests on a gigantic new facility that will try to blow apart houses to gauge the effects of hurricane winds.
Recent catastrophic earthquakes in Chile and Haiti--and this week's tremors in California and Baja, Mexico--have generated much-needed conversations about the preparedness of the U.S. for a major earthquake event.
Although this year's tornado season has begun slowly, weather experts suggest that winters comparable to 2009-2010 have typically produced an above average number of tornadoes the following spring, an industry group warned.
Insured losses from the Chile earthquake will range from $3 billion to $8 billion, according to an early estimate from catastrophe risk modeling firm Eqecat.