Hurricane Losses
Hurricane Michael’s Insured Losses Estimated at $250 Million in Georgia
GEORGIA- The InsuranceJournal.com reports that the Georgia Department of Insurance found that the expected injured loss total for damage caused by Hurricane Michael in Georgia is $250 million. The department is anticipating 35,000 property damage claims. * The total costs are likely to rise as additional claims are filed. Albany, … [Read more...] about Hurricane Michael’s Insured Losses Estimated at $250 Million in Georgia
Hurricane Michael Leave “Mom-and-Pop” Businesses in Ruins
MEXICO BEACH, FL- Triblive.com writes that Mexico Beach, Florida, the tiny Gulf Coast town, was devastated by Hurricane Michael. The owners of small businesses lost their shops and restaurants and are struggling to determine how they will be able to recover the losses they suffered in the massive storm. Dena Frost, the owner of a … [Read more...] about Hurricane Michael Leave “Mom-and-Pop” Businesses in Ruins
Insurance Issues Result from Hurricane Florence
USA- According to CBSnews.com, Hurricane Florence cost insurers around $10 billion. However, the coverage will likely be lacking for many hard-hit Carolinians. Estimates indicate that there could be as many as one million property owners in the Carolinas who have no flood insurance and who will not be able to collect the funds needed … [Read more...] about Insurance Issues Result from Hurricane Florence
Cotton and Pecan Farmers Facing Tremendous Losses After Hurricane Michael
GEORGIA- CNN.com reports that cotton fields and pecan farms have been devastated by Hurricane Michael. Many of the farmers claim that they were gearing up for a “crop of a lifetime” before all of their hard work was wiped out in a matter of hours. One cotton farmer, 60-year-old Tom Windhausen, stated that he might never recover … [Read more...] about Cotton and Pecan Farmers Facing Tremendous Losses After Hurricane Michael
Hurricane Michael Caused an Estimated $6-10 Billion in Insured Losses
FLORIDA- InsuranceBusinessMag.com writes that damage from Hurricane Michael likely caused somewhere between $6 billion and $10 billion worth of insured losses. Hurricane Michael struck land on Wednesday, October 10, 2018, with such strength that it was nearly a Category 5 storm. The winds were reaching 155 mph making the storm the … [Read more...] about Hurricane Michael Caused an Estimated $6-10 Billion in Insured Losses
Disaster Insurance: What is Covered After a Hurricane
FLORIDA- Marketwatch.com reports that not all damage done to homes in a hurricane will be covered by home owner’s insurance. Hurricane Michael struck land with winds that were 155 miles-per-hour. The Category 4 storm was almost severe enough to reach Category 5. Since record-keeping on the topic began, only two other storms have hit … [Read more...] about Disaster Insurance: What is Covered After a Hurricane
