The risk of wildfire is unlike any other, as today, 90 percent are caused by humans. That’s an alarming amount, considering all it would take is one inexperienced hiker failing to properly extinguish their campfire to scorch an entire mountain.
Satellite image of Tropical Storm Cindy, courtesy of hattyphoto
With an above-average 11 to 17 named storms predicted this hurricane season, members of the P&C insurance industry need to be fully equipped to weather the storms. We know it only takes one bad storm to impact a nation’s economy for months, even years. Hurricane Matthew (2016) was the first hurricane to reach Category 5 since 2007, causing $10 billion worth of damage in the U.S. and displacing thousands. Not only that, it was the 13th billion-dollar weather disaster in the U.S. last year.
With the NFIP $24.1 billion in debt, the floodgates are opening to an epic, never-before-seen private flood insurance market. Now more than ever, underwriting and risk selection are not only paramount, but clear areas for competitive advantage as the market heats up.
Hail is scary and it hits home for many of us. SpatialKey’s home state of Colorado is no exception to hail risk. Our downtown Denver headquarters reside in a heavy hail risk zone—and so do the homes of many SpatialKey team members.
HazardHub data shows hail risk at SpatialKey headquarters in downtown Denver
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.
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.
Photo credit: shutterstock.com
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.
Photo credit: www.independent.co.uk
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.