Acle Law Firm

07/07/2023

Thank you to the “Daily Business Review” for their reporting on our case in today’s front page.

The numbers in the headline, while important, aren’t as important as the number 635. That’s the number of units that were in this condominium complex. That’s 635 families that, for six years, lived with water coming in from their ceilings, windows, and doors. Elderly residents and children, forced to watch the mold creep through their homes and feel their walls turn to mush.

Now it’s time for those families to finally get some relief. And now it’s time for us hold those responsible accountable.

We went in and did this form of alternative dispute resolution, ... and they said, 'We're not paying. We want to present our defenses,’” plaintiff...

02/10/2022

The cost of flooding is expected to reach $43 billion in 2050, up 26% from the current tally, and people of color could bear a disproportionate share of the expense, according to a study published in Nature Climate Change. "Not everyone is bearing the same burden here," says Oliver Wing, chief research officer at flood modeler Fathom.

Not only is flooding going to cost the US more in the future, but people of color are going to bear the brunt of that increase.

02/08/2022

Weather and climate-related catastrophes caused about $130 billion of insured losses worldwide in 2021, with 71% of those losses occurring in the US and insurance covering only 38% of overall losses, according to an Aon report. "The path forward for organizations and governments must include sustainability and mitigation efforts to navigate and minimize risk as new forms of disaster-related volatility emerge," Aon's Steve Bowen says.

Natural disasters cost global economies a total of $343 billion in 2021, compared with $297 billion in 2020, according to Aon's "2021 Weather, Climate and

01/04/2022

An AXA study finds 60% of risk managers saying they think climate change will cause certain activities and areas of the world to become uninsurable. While more than 80% of respondents said they are concerned about the effects of flooding and rising temperatures, 40% said their organizations lack mechanisms for climate-risk governance, according to the study.

Results from a new study by AXA show that 60% of risk managers fear that certain geographies or activities will become uninsurable in future due to the

01/03/2022

The latest 30-year average of Atlantic hurricane season activity indicates "alarming trend of increased activity across the North Atlantic Basin" that "will certainly be bolstered by the previous two years of above-average activity," AIR Worldwide research scientist Jeffrey Strong said. Hurricane Ida, the 2021 season's most destructive storm, highlighted the need for increased mitigation efforts, especially in Louisiana bayou communities protected by levees, AIR senior engineer Tim Johnson said.

The 2021 Atlantic hurricane season was the third most active on record and the sixth consecutive year of above-average hurricane activity. Still, the overall season was mostly in line with the updated 30-year average, according to experts from AIR Worldwide. However, the season did reveal some “un...

01/03/2022

New Year…..so here’s some quick basic tips on how to lower your premiums on your homeowners insurance policy.⁣
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    ⁃    Smoke alarms with working batteries⁣
    ⁃    Fire extinguisher⁣
    ⁃    Home security system⁣
    ⁃    Carbon monoxide protector⁣
    ⁃    Hurricane shutters or impact glass⁣
    ⁃    Maintaining your plumbing and sprinkler systems⁣
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If your insurance claim has been denied, delayed or underpaid, our team of expert property insurance attorneys can help you fight for the compensation you deserve. It’s what we do and it’s all we do.⁣
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Contact us today for a private and confidential case evaluation or for a complimentary insurance policy review. 305-447-4667 or visit aclelaw.com. ⁣
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12/30/2021

Citizens Property Insurance, Florida's property insurer of last resort, is seeking rate increases of 11% for 2022 and 12% for 2023, which are the sharpest increases allowed by state law. Citizens staff had recommended a 7.3% increase for homeowners policies, but the board approved the maximum increases, with the chairman citing litigation and a gap in premiums.

The board of governors for Citizens Property Insurance Corp., Florida's state-backed insurer of last resort, wants the maximum allowed rate increase – 11%

12/29/2021

A new effort involving private lenders is designed to speed the distribution of funds to areas affected by natural disasters. Under the program, Morgan Stanley and the housing nonprofit Enterprise Community Partners intend to loan money to owners of multifamily complexes affected by disaster and receive repayment with funds from the Department of Housing and Urban Development.

A new program allows Morgan Stanley to front money for disaster repairs and then get paid back, with interest, by taxpayers.

12/27/2021

Flooding could be responsible for $13.5 billion in damage at commercial properties next year, according to First Street Foundation. Damage is predicted to increase 25% or more during the next three decades as climate change progresses.

The commercial real estate industry faces an intensifying threat from flooding, which will likely create billions of dollars in increasing costs, research says.

12/25/2021

12/23/2021

The way in which hurricanes are affecting the East Coast is changing, with the proportion of storms hitting Northern states rising to 16%, according to Chaucer. Meanwhile, Southern states and Caribbean islands are now being hit by about 54% of storms, lower than 20 years ago.

New research from specialty re/insurance group Chaucer shows that 16% of US hurricanes and storms are now hitting northern states such as New York, New

12/20/2021

Preliminary estimates show 2021 Atlantic hurricane season losses likely to surpass $70 billion, which would be the fourth-highest total on record. The 2021 losses exceed those from 2020, despite last year's record high of 30 named storms, compared with 21 this year, when losses were driven largely by Hurricane Ida.

It was the fourth costliest hurricane season on record, with 21 named storms, including seven that made landfall in the Lower 48 states.