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Extreme Weather

/Extreme Weather

Risk Management: Disaster Planning for Condominium Properties

As we approach the one-year mark when Super Storm Sandy ripped its way across entire communities on the East Coast pummeling houses and businesses, there are many lessons to be learned. Many businesses are still reeling from the effects of Sandy and are not back to their normal levels of revenue before the storm hit. [...]

Population in Coastal Areas Still Growing Despite Extreme Weather Risks

Hurricane Sandy was the most recent example of the devastating havoc Mother Nature can wreak on coastal communities. But that isn’t stopping people from moving along the shore and building from taking place. In fact, recent estimates from the National Oceanic and Atmospheric Administration (NOAA) and the U.S. Census Bureau shows that our already-crowded coast will see population grow [...]

New Surveys Show Commercial Lines Insurance Rates Continue to Rise

Towers Watson, a global professional services company, recently released its latest Commercial Lines Insurance Pricing Survey (CLIPS), indicating that insurance prices rose by almost 7% in aggregate during the fourth quarter of 2012. This marks the eighth consecutive quarter of price increases and the fourth showing increases across every line surveyed. Workers Compensation and Employment [...]

Demand for Excess Flood Insurance Rising

We’ve been talking a lot about Sandy and the residual effects of the hurricane that hit the Northeast last October. And in the coming months we’ll continue to do so as different issues continue to arise, putting insurance in the spotlight as businesses and residents learn about what is and isn’t covered during the claim process. One of the [...]

Extreme Weather Conditions Put Spotlight on Coastal Properties & Increased Exposures

Hurricane Sandy’s destruction along the Jersey Shore and the wreckage it left behind underscores the exposures properties face so close to the coast. Now many are rethinking the development that has taken place along the Shore over the last two decades and whether changes should be made to coastal land-use regulations and building codes. What’s more, the [...]