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Hurricane

A Warmer World

As hurricanes get more severe, how do insurers calculate risk?

by Amy Scott and Nicholas Guiang
Jul 4, 2023
Risks and costs are rising, largely due to climate change, but where the risk hits is key, a veteran "catastrophe modeler" says.
A home in Fort Myers Beach, Florida, that was destroyed by Hurricane Ian. "Hurricanes are like real estate," catastrophe modeler Karen Clark says. What matters is "location, location, location."
Joe Raedle/Getty Images
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Ian's catastrophic damage in Florida falls on an insurance market in turmoil

by Meghan McCarty Carino
Sep 29, 2022
The storm could cause more than $30 billion in property losses at a time when insurance companies in the state are losing money.
Hurricane Ian may be one of the costliest storms in U.S. history. Above, debris in Fort Myers Beach, Florida.
Joe Raedle/Getty Images
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Hurricane Ian spares fertilizer plants but sends a warning to the U.S. industry

by Stephanie Hughes
Sep 29, 2022
A direct hit would have been bad news for a world already struggling without enough fertilizer.
The commission, formed by the Biden administration to look into discrimination against minority farmers, released its first report last week.
Scott Olson/Getty Images
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Puerto Ricans who thought hurricane insurance covered flooding may have a rude awakening

by Andy Uhler
Sep 20, 2022
Did wind or water cause the damage to their homes? That's up to the insurance adjuster.
In the wake of Hurricane Fiona, an estimated 80% of Puerto Rico's population still lack electricity. Many people are stranded after more than 30 inches of rain fell in some areas.
AFP via Getty Images
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Why doesn't homeowners insurance cover flood damage?

by Samantha Fields
Sep 16, 2021
Short answer: Flooding cost insurance companies too much money, so the federal government stepped in.
Natural disasters have increased in scope and scale, increasing costs but not always homeowners premiums. Senior economics contributor Chris Farrell expects reform to come to the market.
Michael M. Santiago via Getty Images
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COVID-19

Pandemic complicates emergency response to Hurricane Laura

by Meghan McCarty Carino
Aug 28, 2020
Officials had to find alternatives to big, crowded evacuation centers.
A couple leave the hotel in Galveston, Texas, where they had taken shelter from Hurricane Laura on Thursday.
Ellie Cherryhomes/AFP via Getty Images
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COVID-19

People need basic resources to evacuate safely from disaster zones

by Andy Uhler
Aug 26, 2020
As people in the U.S. flee wildfires and a hurricane, they may need a car, tank of gas, enough money for a hotel room or place to stay where they can socially distance.
A resident runs into a home to save a dog while flames from the Hennessey fire get closer in Napa, California, on Aug. 18.
Josh Edelson/AFP via Getty Images
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I've Always Wondered ...

What will happen to all the abandoned homes in Puerto Rico?

by Jana Kasperkevic
Jan 25, 2018
A foreclosure wave is coming.
Protesters rally against foreclosures on Puerto Rican families affected by Hurricane Maria, outside the offices of TPG Capital, Dec. 20, 2017 in New York City. The activists claims that TPG Capital's mortgage service companies are aggressively foreclosing on families in Puerto Rico after many people were displaced from their homes following Hurricane Maria.
Drew Angerer/Getty Images
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The long recovery: 2017’s biggest natural disasters

What recovery looks like for a small, historic Puerto Rico town

by Kimberly Adams , Paulina Velasco and Katie Long
Dec 29, 2017
San German's lights are mostly on, but the city's mayor says bureaucracy is slowing down progress.
A view of Porta Coeli in San German, Puerto Rico.
Wikimedia Commons
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The long recovery: 2017’s biggest natural disasters

Rebuilding plays a major role in economic recovery of the U.S. Virgin Islands

by Kimberly Adams , Paulina Velasco and Katie Long
Dec 28, 2017
The territory's governor expects storm recovery and reconstruction to last four or five years.
Laura Forbes prepares to load cleaning supplies onto a ferry taking them to her mother St. Thomas more than a week after Hurricane Irma made landfall in Christiansted, St Croix, U.S. Virgin Islands. 
Chip Somodevilla/Getty Images
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