Florida’s insurance market was depleted long before Hurricane Ian made landfall, with six insurers deemed insolvent this year alone. The aftermath of the most powerful storm to hit Southern Florida is expected to exacerbate the slow-moving crisis further, leaving millions of residents in the state without insurance coverage. “Terms like 100-year events and 1,000-year events really aren’t capturing what’s happening,” Craig Fugate, former FEMA director under President Obama, told Yahoo… Source link
Read More »Hurricane Hanna Makes Landfall, Rakes Texas Coast With High Wind
(Bloomberg) — Hanna, 2020’s first Atlantic hurricane, made landfall on Padre Island Saturday evening, bringing “life-threatening” storm surges, flooding rains and tree-toppling winds to south Texas. The storm came ashore with 90-mile-per-hour (145 kmph) winds, the National Hurricane Center said in an advisory at 6 p.m. EDT. Hanna is moving west-south-west at about 8 miles per hour. A Category 1 storm, the lowest on the five-step Saffir Simpson scale, much of Hanna’s damage is likely… Source link
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