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NICB: Hurricanes Leave Record Numbers Of Vehicles Damaged

Flooded vehicles have finally stopped arriving at the Royal Purple Raceway east of Houston. Some 23¸000 now await processing and retitling to be auctioned off for parts or to be scrapped. That is just one of several insurance industry salvage locations where more than 422¸000 insured vehicles damaged by Harvey …

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NICB: Hurricanes Leave Record Numbers Of Vehicles Damaged

Flooded vehicles have finally stopped arriving at the Royal Purple Raceway east of Houston. Some 23¸000 now await processing and retitling to be auctioned off for parts or to be scrapped. That is just one of several insurance industry salvage locations where more than 422¸000 insured vehicles damaged by Harvey …

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CAT Crews Busy Closing Out Hurricane Claims

The relentless hurricane season is keeping Bloomington-based insurers busy. With seven weeks to go¸ the 2017 hurricane season is already the third most active on record. That's led to tens of thousands of claims worth hundreds of millions of dollars for State Farm Insurance and Country Financial¸ the companies …

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Universal Insurance Expects Up To $450M In Hurricane Irma Losses

Fort Lauderdale-based Universal Insurance Holdings said it expects to pay out between $350 million to $450 million in claims from Hurricane Irma. The company¸ parent of Universal Property & Casualty¸ Florida's largest insurer¸ said in a news release that it has had about 50¸000 claims related to Irma from …

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Citizens Property Insurance: Irma Less Damaging In Florida Than First Feared

Florida was spared the worst of Hurricane Irma. And as homeowners continue to file insurance claims¸ it's becoming clear just how glancing the blow was for most of the state. As of Wednesday morning¸ Citizens Property Insurance Corp. had received 45¸681 claims. On a Wednesday morning conference call with board …

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Puerto Rico’s Losses From Hurricane Maria May Top $72 Billion

As Puerto Rico continues to plead for more aid from federal agencies¸ catastrophe-modeling firm AIR Worldwide says the storm could result in up to $72 billion in losses on the island. Overall¸ says the group¸ losses from Hurricane Maria are estimated to range between $40 billion and $85 billion. That's higher than …

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Hurricane Irma Victims Could Face Fight Between Insurers¸ Contractors

As homeowners in Central Florida and throughout the state assess damage inflicted by Hurricane Irma¸ many could find themselves in the middle of a tug-of-war between their insurance companies and contractors. More than 452¸000 insurance claims worth an estimated $2.7 billion have been filed in the aftermath of …