Hurricane Henri

Annual U.S. Home Insurance Trends Report Confirms Upward Trend in Loss Cost and Severity Across All Perils

Retrieved on: 
Thursday, October 13, 2022
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ATLANTA, Oct. 13, 2022 /PRNewswire/ -- LexisNexis® Risk Solutions today released its seventh annual LexisNexis U.S. Home Trends Report, a source for U.S. economic home insurance and weather trends by peril for severity, frequency and location.

Key Points: 
  • While All Peril combined loss cost was down in 2021, Weather-Related Water, Non-Weather Water, Theft and Other perils loss cost increased in 2021.
  • Louisiana and Texas experienced the highest loss cost in 2021, followed by Colorado and Nebraska, which had the highest loss cost on average from 2015 to 2021.
  • As more people returned to the office, Theft peril severity and loss cost rose, reversing a five-year decline.
  • Non-Weather-Related Water: Non-Weather-Related Water loss cost increased 8% and frequency increased 2% from 2020 to 2021, while severity also increased 6%.

A Decade after Superstorm Sandy, New Jersey's Infrastructure is Considerably More Prepared for Hurricane Season

Retrieved on: 
Thursday, June 9, 2022
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NEWARK, N.J. , June 9, 2022 /PRNewswire/ -- Public Service Electric and Gas, New Jersey's largest utility, is well prepared to support customers and the state for what experts say could be another very active hurricane season. Ten years after Superstorm Sandy raged across the East Coast, PSE&G continues to protect customers' utility service from the damaging impact of extreme weather by strengthening and upgrading its infrastructure. This work contributed to PSE&G customers experiencing fewer outages and the utility achieving strong reliability performances for 2021, one of the best in the last 10 years.*

Key Points: 
  • Ten years after Superstorm Sandy raged across the East Coast, PSE&G continues to protect customers' utility service from the damaging impact of extreme weather by strengthening and upgrading its infrastructure.
  • The benefit to customers was evident last year when Tropical Storm Ida brought historic flooding to most of the utility's service territory.
  • Tropical Storm Ida and its remnants would cause more than $75 billion in damage nationwide surpassing the damage caused by Superstorm Sandy in 2012.
  • "During Superstorm Sandy, I was one of the South Hoboken Commanders for the Hoboken Police Department.

Verisk’s AIR Worldwide Updates Losses for Hurricane Ida to Include Impacts of Inland Flooding

Retrieved on: 
Monday, September 13, 2021
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AIR now estimates that Idas insured industry losses will range from USD 20 billion to USD 30 billion.

Key Points: 
  • AIR now estimates that Idas insured industry losses will range from USD 20 billion to USD 30 billion.
  • AIR estimates wind and storm surge losses will range from USD 17 to USD 25 billion, and private-market insured losses from inland flooding will range from USD 2.5 billion to USD 5 billion.
  • The remnants of Hurricane Ida doused the Northeast and caused flooding damage and disruption across the region.
  • AIR Worldwide, a Verisk (Nasdaq:VRSK) business, is headquartered in Boston, with additional offices in North America, Europe, and Asia.

The Salvation Army Activates Bicoastal Ida Response

Retrieved on: 
Friday, September 3, 2021
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"Hurricane Ida is turning into a unique and historic disaster," said Jeff Jellets, Emergency Disaster Services director for The Salvation Army Southern Territory.

Key Points: 
  • "Hurricane Ida is turning into a unique and historic disaster," said Jeff Jellets, Emergency Disaster Services director for The Salvation Army Southern Territory.
  • The Salvation Army currently has 133 disaster workers who have given 4,662 hours of service in response to Hurricane Ida in the South.
  • The Salvation Army is partnering with city and state officials to determine impacts and coordinate response efforts.
  • During times of disaster, 100 percent of designated donations to The Salvation Army are used for immediate response and long-term efforts.

Active Hurricane Seasons: The New Normal

Retrieved on: 
Wednesday, August 25, 2021
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After Hurricane Harvey in 2017, CoreLogic estimated that 70% of the flood damage was uninsured, said Dr. Howard Botts, executive and chief scientist at CoreLogic.

Key Points: 
  • After Hurricane Harvey in 2017, CoreLogic estimated that 70% of the flood damage was uninsured, said Dr. Howard Botts, executive and chief scientist at CoreLogic.
  • In regard to personal property, standard homeowners insurance does not protect policyholders from flood losses and storm surge, creating a potential coverage gap.
  • Instead, homeowners must rely heavily on the National Flood Insurance Program (NFIP) for coverage from catastrophic flooding.
  • If the recent pattern of active hurricane seasons has ushered in a new reality of natural catastrophes, P/C insurers (especially smaller regional companies) will need to redouble their focus on underwriting profitability and risk management to protect their financial strength.

Georgia Power crews move north to assist with Hurricane Henri recovery

Retrieved on: 
Sunday, August 22, 2021
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More than 100 Georgia Power personnel are traveling north towards Hartford, Connecticut.

Key Points: 
  • More than 100 Georgia Power personnel are traveling north towards Hartford, Connecticut.
  • Georgia Power has also released a number of contract crews to respond as well.
  • As part of this partnership, Georgia Power is able to respond and offer assistance, providing reinforcements when needed to restore power quickly for other utilities.
  • The company is also able to request additional resources to help restore power to Georgia Power customers following a major storm.

Verizon stands ready as Hurricane Henri approaches the Northeast Coast

Retrieved on: 
Saturday, August 21, 2021
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NEW YORK, Aug. 21, 2021 (GLOBE NEWSWIRE) -- As Hurricane Henri approaches the Northeast coast, Verizon continues to prepare for potential flooding and commercial outages that may accompany the storm – potentially the first storm of this magnitude to make landfall in this area in years. Engineers are topping off generators and trucks with fuel, staging emergency assets outside of the storm’s projected path, readying mobile network assets for rapid deployment, and activating response teams to keep customers and first-responders connected. Especially in the context of natural disasters, having reliable connectivity and a personal communications plan is essential.

Key Points: 
  • The Verizon Response Team (VRT) stands at the ready 24/7 year-round to support first responders.
  • NEW YORK, Aug. 21, 2021 (GLOBE NEWSWIRE) -- As Hurricane Henri approaches the Northeast coast, Verizon continues to prepare for potential flooding and commercial outages that may accompany the storm potentially the first storm of this magnitude to make landfall in this area in years.
  • Verizon has prepared to ensure the network is ready for Hurricane Henri:
    Support for first-responders: More public-safety professionals rely on Verizon than any other network.
  • Additionally, when disaster strikes, the Verizon Response Team is available 24/7 to deliver Verizon Frontline technologies including on-demand, emergency assistance for first-responders.

American National Urges Claims Preparedness for Tropical Storm Henri

Retrieved on: 
Saturday, August 21, 2021
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SPRINGFIELD, Mo., Aug. 20, 2021 (GLOBE NEWSWIRE) -- As Tropical Storm Henri approaches the Northeast, American National Insurance Company strongly encourages its policyholders to prepare for their insurance needs.

Key Points: 
  • SPRINGFIELD, Mo., Aug. 20, 2021 (GLOBE NEWSWIRE) -- As Tropical Storm Henri approaches the Northeast, American National Insurance Company strongly encourages its policyholders to prepare for their insurance needs.
  • For more information on how to protect your property and loved ones, visit www.pciaa.net > Tropical Storm Henri
    American National Group, Inc. is the parent company of the American National companies, which include American National Insurance Company and its insurance affiliates.
  • American National Insurance Company, founded in 1905 and headquartered in Galveston, Texas, is licensed in all states except New York.
  • American National established a dedicated property and casualty division in 1973 with American National Property And Casualty Company, Springfield, MO.