RISK News

Flurry-Down Economics: The Real Cost of Blizzards

Despite predictions of a “historic” snowstorm this week, the Northeast – and the insurance industry – largely dodged the blizzard bullet. Over the past 20 years, winter storms have caused an average of $1.2 billion in insurable losses every year, the Insurance Information Institute reported. Last year’s polar vortex and significant snow accumulations came with a [...]

Insurers Will Be Found Not Guilty of Fraud in Sandy Payouts, Expert Says

Insurers will be vindicated of accusations of fraud for rejecting flood damage claims made by Superstorm Sandy victims, an insurance industry expert predicts. A criminal investigation by New York’s Attorney General Eric Schneiderman accuses insurers Wright National Flood Insurance Co., units of Travelers Cos. and Hartford Financial Services Group Inc., which contract with the government’s [...]

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