LMA NEWSLETTER September 30, 2024

Hurricane Helene Enters Recovery Stage in Florida

US damage estimates from $15 billion to $100 billion

Florida’s Big Bend region can’t catch a break when it comes to major hurricanes lately.  At 11:10 pm Thursday night, Hurricane Helene made landfall at Dekle Beach right outside Perry as a Cat 4 storm, with wind speeds of up to 140 mph, and continued rampaging …

New Flood Disclosure Laws

Plus, rising concern over repeated flood claims

New flood disclosure laws go into effect in Florida, new data from FEMA on the large number of properties with repetitive flooding, plus a startling report says half of all floodplain development in the U.S. in the last 20 years has been right here in Florida.  It’s all …

Citizens Looking to Help with Helene Flood Claims

Plus, depopulation, condo questions, wildfire dangers

Citizens Property Insurance is trying to find ways to help its policyholders with Hurricane Helene flood claims, nearly 90% of depopulation offers to Citizens this month qualify for removing policies, condo questions and answers, plus a new study finds that Florida has a high risk of financial losses from …

Rebuilding Continues Two Years After Hurricane Ian

Commercial, residential real estate changing hands

On this two-year anniversary after Hurricane Ian made landfall and spread devastation across a wide swath of Florida, Fort Myers Beach and Sanibel Island are still among those recovering and rebuilding.  The category 4 storm was the costliest in Sunshine State history, with over $112 billion in total damages, …

Working Together – In One Place

The turnaround in remote work

Amazon CEO Andy Jassy released a memo earlier this month effectively putting an end to remote work at the company by requiring in-person five-day work weeks starting January 2, 2025.  This is a definitive step away from Amazon’s hybrid work week that evolved through the COVID pandemic of the last …

Unsung Heroes of Risk: How Invisible Success Drives Stability in Insurance

An old friend of mine started in the risk management business 25 years ago and I recently came across an article he wrote about risk management.  In the property insurance business, risk management is our number one priority and the foundation of protecting our policyholders, yet its true value often goes unnoticed.  Like putting on …