Hurricanes in the Atlantic ocean have a reputation for taking a financial toll on the eastern coast of the United States. Reports show that even lower category storms can have a huge economic impact on coastal cities. So just which hurricanes have been the most expensive? It depends! Hurricane costs are merely estimates of a combination of certain monetary factors. Expenses may include damages to structures and property. Many totals include the...

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The United States Congress passed the National Flood Insurance Act in 1968, establishing the National Flood Insurance Program or “NFIP”. This legislation protects homeowners against damages or losses incurred during floods. More importantly, the program motivates communities to take action and provide safeguards to decrease the risk of floods in Special Flood Hazard Areas (SFHAs or areas with extremely high risks of...

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The Texas Windstorm Insurance Association (TWIA) met for the first time this year on June 18 in order to prepare a plan to raise funds and increase efficiency for future storms after the Legislature was unable to approve any reforms to the agency during the recent regular session. Senators and representatives filed different bills in efforts to financially restructure the agency, however none of these bills gathered enough support for a vote on...

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What is bad faith insurance? In the United States, most insurance companies are bound by what is known as an “implied covenant of good faith and fair dealing.” What this means is that an insurance company has certain duties to its policyholders such as the obligation to thoroughly investigate all claims in a timely manner. In the case that an insurance claim has not been investigated thoroughly (or at all) or has been wrongfully...

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Hurricanes cause billions of dollars in damage. But what makes them so destructive and dangerous? Hurricanes devastate coastal regions with their triple threat hazards: storm surges, winds, and precipitation. Hurricane-Fueled Winds Hurricanes menace coastal regions with unfaltering winds. Even the weakest storms, category 1 hurricanes, can tear through cities with sustained wind speeds of a minimum of 74 miles per hour. But higher category...

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Hurricanes have played a large part in the history of coastal regions. From economic destruction to devastating fatalities, hurricanes have gained fame as some of the most influential natural disasters. Check out these 10 facts about the hurricane firsts and worsts in history! The first known hurricane to be recorded was written about by Christopher Columbus on June 16, 1494.  The first unofficially named hurricane was George in 1947, while...

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