2021 Weather in Review…A Wild Ride https://www.washingtonpost.com/nation/interactive/2021/weather-disasters-2021/ Vicious wind and tornadoes put a deadly exclamation point on the end of an extraordinary year for extreme weather in the United States. Earlier in...
“AIR Worldwide, which models disaster impacts for the insurance industry, estimates Ida caused insured losses of $20 billion to $30 billion nationwide. (AIR did not estimate economic losses, which are always higher than insured losses, because some damage is...
Ida’s insurance impact is likely to be boosted by pandemic pricing (yahoo.com) Insurers are bracing for $15 billion to $30 billion in claims from Hurricane Ida, but the figure could jump higher, in part because of pandemic pricing that has pushed up the cost of...
From Cozen & O’Connor: “On appeal, the insured maintained that the COVID-19 pandemic and the related government-imposed restrictions on performing non-emergency dental procedures constituted a “direct ‘loss’ to property” because the insured was unable...
Insured losses from Hurricane Elsa estimated at $290M | Business Insurance “Insured losses to onshore properties from Hurricane Elsa will be around $290 million, according to Boston-based catastrophe modeler Karen Clark & Co. Elsa caused some $240 million of...
Transitioning from Xactimate 28 to Xactimate desktop (X1) (xactware.com) “On July 31, 2021, support for Xactimate desktop version 28 will no longer be available and end of life for Xactimate desktop version 28 will occur on December 1, 2021. Even though the...
‘Market has tipped’: Lumber prices finally fall, although still up over 300% (msn.com) “The futures price for lumber peaked in early May. But the “cash” price (the price sawmills charge distributors and wholesalers) kept hitting new all-time highs...
Tornadoes cause damage in Mississippi; Tupelo hit at night | The Seattle Times “Multiple tornadoes were reported across Mississippi on Sunday, destroying homes and uprooting trees before the storm system moved into Atlanta, prompting residents Monday to seek...
https://www.kgw.com/article/news/local/supply-demand-and-covid-19-the-price-of-lumber-has-nearly-quadrupled-in-the-last-year/283-c6600923-3caf-4a02-93b2-383739a80545 …and shows little signs of stopping: “The sticker shock you might be feeling is all about...
https://www.zerohedge.com/weather/hailstorms-bombard-texas-oklahoma-causing-billions-dollars-damage Hailstorm causes $3 Billion in Damages. “AccuWeather Senior Vice President and Chief Meteorologist Jonathan Porter estimates “total damage and economic loss...
COVID-19 And Business Interruption Insurance: Ambiguity Remains – InsuranceNewsNet “…as we cross this one-year anniversary, that lack of clarity persists as insurance carriers and courts apply policy considerations in strikingly differing manners....
