Archive: Disasters
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Mar 05, 2012
No CommentsRecord 2011 Catastrophe Losses Spur Climate Change Survey
Last weekend’s tragic tornado outbreak was a grim reminder that, by all insurance industry measures, 2011 was a year of unprecedented natural disasters. • Millions are still recovering from the tornado devastation in Joplin, MO, and the Deep South, the drought and wildfires that ravaged Texas, and the severe storms and flooding that crippled the Northeast. • Crop...
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Dec 12, 2011
No CommentsNew Mexico: Catastrophe Declaration
Recent severe windstorms affected many western states. The New Mexico Division of Insurance has issued a catastrophe declaration for its recent statewide wind storm and assigned NM-2011-2 as the event’s catastrophic claim number. Bulletin 2011-013 provides that questions on coverage and settlement requirements may be directed to John Gaherty, Chief of the Catastrophe Claims Bureau, at...
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Nov 03, 2011
No CommentsSnowtober in Connecticut: Claims, Clean-up and Compliance Continue
The Connecticut Insurance Department reissued three “disaster” bulletins this week in the wake of the devastating Nor’easter that hit New England with a fury on Oct. 29th and 30th. With claims currently projected to exceed those due to Hurricane/Tropical Storm Irene, Connecticut and other nearby states declared states of emergency as the massive clean-up continues this...
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Sep 21, 2011
No CommentsMassachusetts: Tropical Storm Irene Guidance for the “Aftermath”
The Massachusetts Division of Insurance has issued Bulletin 2011-16 that outlines its guidance and recommendations for insurance companies in addressing the damage caused by Tropical Storm Irene in the following counties: Berkshire, Franklin, Hampden and Hampshire. The Division’s Bulletin addresses claims handling, premium payments, vacancy provisions and underwriting including the following: Claims Handling Prompt investigation of...
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Sep 09, 2011
No CommentsGeorgia: Tropical Storm Lee Reporting Requirements
Georgia’s Office of the Insurance and Fire Commissioner issued Directive 11-EXAM-1, which characterizes Tropical Storm Lee’s status as a “significant insurance event.” This Directive sets forth property claims reporting requirements arising from that storm including: Total number of claims reported Total number of open claims Total number of closed claims Total amount of claim paid Total...
