Florida Hurricane Michael Claims Data

Source: Florida Office of Insurance Regulation

Roy
The Florida Office of Insurance Regulation is reporting a total of 78,688 claims as of October 18, 2018 with Total Estimated Insured Losses at $835,868,692.  See the report for additional details.

State Farm® to Conduct Drone Damage Assessment Flights Following Hurricane Michael

Source: State Farm 10-16 Press Release

CADO Admin
It was less than one month ago when Hurricane Florence struck North and South Carolina. State Farm was the first and only insurance company to receive an FAA waiver allowing Claims pilots to operate drones beyond visual line of sight and over people for damage assessment. Drone flights were coordinated with the FAA and Mid-Atlantic Aviation Partnership (MAAP) at Virginia Tech as part of the Integration Pilot Program for large-scale damage assessment in Virginia and South Carolina.

CSU team decreases forecast, now calls for near-average 2018 Atlantic hurricane season

Source: Colorado State University

CADO Admin
Colorado State University hurricane researchers have decreased their forecast from their early April prediction and now call for a near-average Atlantic hurricane season. The primary reason for this decrease is anomalous cooling in the tropical Atlantic. The weak La Niña that occurred this past winter has dissipated, and there is the potential that a weak El Niño could develop by the peak of the Atlantic hurricane season (August-October). However, the forecast team believes that neutral ENSO (El Niño-Southern Oscillation) conditions are the most likely scenario for this year’s season. El Niño tends to increase upper-level westerly winds across the Caribbean into the tropical Atlantic, tearing apart...

EXTENDED RANGE FORECAST OF ATLANTIC SEASONAL HURRICANE ACTIVITY AND LANDFALL STRIKE PROBABILITY FOR 2018

CADO Admin
We anticipate that the 2018 Atlantic basin hurricane season will have slightly above average activity. The current weak La Niña event appears likely to transition to neutral ENSO over the next several months, but at this point, we do not anticipate a significant El Niño event this summer/fall. The western tropical Atlantic is anomalously warm right now, while portions of the eastern tropical Atlantic and far North Atlantic are anomalously cool. Consequently, our Atlantic Multi-decadal Oscillation index is near its long-term average. We anticipate a slightly above-average probability for major hurricanes making landfall along the continental United States coastline and in the Caribbean. As is the case with all hurricane...

Study: State insurance licensing reciprocity benefits everyone

Source: insurancebusinessmag.com

CADO Admin
A new study has found that the current system of licensing regulations for independent claims adjusters is causing more harm than help for the industry. The study, entitled “Breaking Down Barriers” by Pacific Research Institute, found that the average claims adjuster holds between 10 and 12 different state licenses. This can set them back as much as $1,000 each. The study pointed out that these “costly, burdensome state requirements” make it more difficult for adjusters to operate across states, while driving up costs for consumers and limiting the opportunities for new adjusters. At present, 34 states require independent adjusters to hold a license, the Association of Claims Professionals (ACP)...

AI Powered Drone Software Company Scores $750,000 Seed Funding

Source: DRONELIFE.com

CADO Admin

...

"According to the funding website, the Converge software takes the benefits of AI-powered obstacle-avoiding, flight stabilizing technology and puts it into a smartphone app – essentially allowing in-house operators like insurance adjusters to be able to fly well enough to get consistent data without as much flight experience and practice with a joystick.  The integrated suite also includes airspace intelligence and customer reporting."

Source: DRONELIFE.com

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