Tag: building codes

The Growing Threat of Insurance Deserts and How to Address It

Nordstrom
Insurance Deserts

What Are Insurance Deserts? Imagine living in an area so prone to natural disasters that insurance companies decide it’s simply too risky to do business there. This is the concept of an insurance desert—a place where coverage becomes hard to come by or entirely unavailable. These regions are often plagued by events like wildfires, floods, and hurricanes, phenomena that are becoming more frequent and severe in the wake of climate change. For communities labeled as insurance deserts, the ripple effects are far-reaching. Homeowners struggle to secure mortgages without coverage, businesses…

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The Truth About Rising Insurance Costs and What It Means for Your Wallet

Ben Jones
Rising Insurance Costs

Rising Insurance Costs in High-Climate Risk Regions: Causes and Implications Insurance costs are soaring in regions with high climate risks, leaving many homeowners grappling with affordability. Driven by factors such as inflation, legal system abuse, and government rate suppression, these rising premiums are reshaping the insurance landscape. While extreme weather events are often seen as the main culprit, a deeper analysis reveals a complex web of contributing factors. The resulting instability has pushed some consumers toward government insurance programs, underscoring the need for balanced, sustainable solutions. Factors Driving Insurance Costs…

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How Extreme Weather is Reshaping Where and How We Live

Live Insurance News
How Extreme Weather is Reshaping Where and How We Live

The Push for Climate Insurance as Extreme Weather Events Rise The frequency and intensity of extreme weather events are on the rise, leaving communities around the world grappling with the aftermath of hurricanes, floods, wildfires, and droughts. Scientists link these increasingly destructive events to climate change, which is reshaping the way governments, businesses, and individuals approach risk. One of the key responses to this growing challenge is the development of climate insurance. This specialized form of coverage is designed to protect individuals and businesses from the financial impact of climate-related…

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The Push for Stronger Building Codes Before the Next Storm

Live Insurance News
Stronger building codes

The Necessity of Modernizing Building Codes In many storm-prone regions across the United States, outdated building codes continue to leave communities vulnerable to the devastating impacts of natural disasters. As climate change intensifies the severity and frequency of storms, the need for robust building standards becomes increasingly urgent. Recent calls for updating these codes underscore their importance in protecting lives and properties, with particular emphasis on coastal areas regularly battered by hurricanes. Historical Lessons: Hurricane Andrew as a Catalyst for Change The catastrophic damage wrought by Hurricane Andrew in 1992…

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Federal Inquiry into Florida’s Homeowners Insurance Crisis: Causes and Solutions

Marc
Florida Insurance Crisis

How bad is Florida’s homeowners insurance crisis? The federal government wants to know. Lawmakers dove into that question to gain a greater understanding and explore the growing insurance problems across the country. But amidst the challenges, there are actionable solutions for homeowners. Many are feeling the brunt of rising insurance premiums, so much so that people are shying away from buying a home in Florida after learning that there’s no escaping the insurance problems. Weather disasters are becoming more and more prevalent, even in previously safe areas like Tallahassee. However,…

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Allstate New Jersey Insurance Company give homeowners advice for post-Irene home repair

Nordstrom

Following the flood, winds, and related damage from Hurricane Irene, Allstate New Jersey Insurance Company has made their suggestions regarding the best ways to ensure that homeowners are protecting themselves against scams from unscrupulous contractors. The suggestions made by the insurer include the following: • Don’t rush when making the choice for the right contractor – take your time and do your homework. • Obtain estimates from a number of contractors who are licensed and bonded. • Verify the contractors claims regarding their credentials through the use of the Better…

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