Blue skies may be back, but the impact from Hurricane Matthew is still being felt. As your claims team works around the clock managing your event response, information on the extent of the damage is critical to your ability to respond as quickly as possible.
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Now that Hurricane Matthew is hovering about 35 miles off Florida’s east coast, it’s time for your claims team to begin estimating potential exposure and jump into action. The category 3 hurricane is expected to pack a punch this weekend with a powerful combination of storm surge flooding, rainfall flooding, and destructive winds impacting areas from northeast Florida to the southern part of North Carolina. Jacksonville, Savannah, and Charleston are expected to be hard hit. While it’s too early to say what will happen, the level of risk is clearly elevated and insurers are on high alert.
Easily track Hurricane Matthew’s storm path in SpatialKey.
As the most powerful Atlantic storm since 2007, Hurricane Matthew is the first Category 3 hurricane to make landfall in Haiti in 52 years. Forecasters are predicting Matthew will continue to head north towards Florida, Georgia, South Carolina, and North Carolina starting Thursday evening. Florida and South Carolina have already begun evacuations, as the states prepare for the possibility of significant wind and storm surge damage.
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With hail, hurricane, and wildfire seasons in full swing, summer is always a busy time for claims adjusters. This past summer was no exception, with several major events happening across the globe.
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With post-tropical storm Hermine no longer a threat, insurers are busy handling claims from wind, flood, and storm surge damages across the eastern seaboard. An early estimate from catastrophe loss estimation firm Karen Clark & Company (KCC), predicts insured losses likely to approach $500 million, with total economic damages close to $1 billion. Three deaths were attributed to the storm.
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A magnitude-6.0 earthquake rocked central Italy early Wednesday morning, killing more than 260 people. Losses are expected to be below that of the 2009 L’Aquila event, which Willis Re estimated to have £502 million in insured losses. The quake could be felt as far away as Bologna to the north and Naples to the south, and devastated centuries-old towns where historic churches and monuments dot the landscape.
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Over the weekend, Louisiana experienced the worst flooding the state has seen since Hurricane Katrina in 2005. A slow-moving tropical depression brought more than 30 inches of rain to parts of Louisiana, forcing the federal government to declare a major disaster on Monday. So far, at least 13 people have died, 30,000 people have been rescued from their cars and homes, and 40,000 homes and businesses have lost power.