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2012 has long been one of the most feared years in history in terms of natural disasters and other devastating events. However, it was 2011 that officially hit the record books in terms of losses from devastation caused by natural disasters and resulting insurance claims.

Now that 2011 has come to a close, experts are still looking at its losses in wonder while preparing for another year that could bring more surprises. With a great deal of uncertainty ahead, its undoubtedly time to learn how to prepare for natural disasters.

2011 Disaster Losses Reach Highest Level in History

For a while, it seemed that in the United States alone, there was news of tornado devastation or hurricane threats every week.

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Signs point to more unprofitable years ahead for the workers compensation insurance industry, according to a Standard & Poor’s Corp. report released Monday.

While pricing for workers comp insurance modestly improved during the latter part of 2011, New York-based S&P said it is uncertain whether the pace of rate increases will be sustainable over the next few years and whether it will sufficiently overcome increased loss costs.“Continued high unemployment in the U.S., a sluggish economic recovery, potential for higher inflation on future claims payments, adverse reserve developments, and a volatile investment environment with historic-low investment yields could add up to many years of unprofitability for the workers compensation industry,” according to the report, “For The U.S. Pro Read more…

JPMorgan Chase and other major banks like Bank of America are being investigated for allegedly steering borrowers into overpriced home insurance policies illegally. The New York State financial services agency in charge of the investigation is focusing on a trend that was once used to protect banks from financial losses but now may be used simply to earn some extra cash.

Force-Placed Homeowners Insurance Rising

When a major lender provides a mortgage loan to a borrower, that borrower is required to purchase a homeowners insurance policy to ensure that the property is financially protected from damage or losses until it is paid off.

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JPMorgan Chase and other major banks like Bank of America are being investigated for allegedly steering borrowers into overpriced home insurance policies illegally. The New York State financial services agency in charge of the investigation is focusing on a trend that was once used to protect banks from financial losses but now may be used simply to earn some extra cash.

Force-Placed Homeowners Insurance Rising

When a major lender provides a mortgage loan to a borrower, that borrower is required to purchase a homeowners insurance policy to ensure that the property is financially protected from damage or losses until it is paid off.

Read more…

Homeowners can expect their home insurance rates to jump in 2012, says a number of insurance experts. The damage caused by the high multitude of storms seen last year has had a significant impact on property and casualty insurers.

Record Natural Disaster Losses in 2011

Theres no doubt that 2011 was known as the year of the natural disaster. For a while, it seemed that every few days there were reports of new storms that destroyed property and claimed lives. It wasnt everyones imagination, however, because by mid-year, there were already reports that 2011 had set a record for disaster losses.

Insured losses in the U.S. fo

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