A direct result from the destructive wildfires that ravaged Colorado over the last three years, homeowners will very soon be seeing new insurance changes to their home insurance policies. House Bill 1225 will take effect next year, making home insurance policies more user-friendly and easier to understand. The new legislation will ensure appropriate replacement coverage […]
Posts Tagged ‘insurance’
Pie Global Blog
According to a recent analysis performed by Verisk Analytics, more than 4.5 million homes nationwide are at extreme risk for wildfires in the U.S. The analysis comes near the close of the 2013 fire season; the most destructive wildfire season in Colorado history marked by one of the largest burns on record in California, which […]
The National Weather System confirms several tornadoes blasted the Midwest on Sunday killing at least 6 people, injuring dozens, and causing severe personal and commercial property. Lightning, strong winds, and heavy rains are to blame for hundreds of collapsed homes and business in Illinois, Indiana, and Kentucky. Federal Emergency Management Agency (FEMA) has been deployed […]
Despite another year of costly wildfire devastation, Colorado insurance companies claim hail to be the most expensive catastrophe. NPR.com excerpt, July 7, 2013: “The fact is, for insurance companies, wildfires aren’t that big a deal compared to say, tornadoes or hurricanes. And even in fire-prone Colorado, hail is still responsible for more actual insured losses […]
Intensity, Frequency of Recent Natural Disasters Amplifies Property/Casualty Claims….How Will the Insurance Industry Respond?
Guest Post by Scott Markey, Engel Martin & Associates Loss Adjuster What an impressive year 2012 was in regards to natural disaster catastrophes. From the 9.2 million acres consumed by wildfires to Hurricane Sandy – 2012 was remarkably memorable and costly. And with powerful winter weather ahead in 2013, one question being asked is if […]