Report: Fargo Should Expect 1 of its Worst Floods

March 22, 2013Email ThisPrintNewslettersTweetArticleComments

Residents along the Red River in Fargo, N.D., and neighboring Moorhead, Minn., should prepare for one of the top five floods in their history, the National Weather Service said.

Its latest flood outlook included a 50 percent chance that the river would top 38 feet later this spring. That would surpass the fifth-highest crest of 37.34 feet in 1969. Flood stage is 18 feet.

The weather service said the chances of a top five flood had increased with near-record cold temperatures that have delayed the snowmelt. Now, the melt cycle isn’t expected to begin until the first week of April. The chances of a big rain also increase around that time, officials said.

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P/C Industry Should Not Expect Traditional Hard Market Soon: Hartwig

June 26, 2012Email ThisPrintNewslettersTweetArticle12 Comments

Although insurance rates have been drifting upward in recent months, the property/casualty industry is unlikely to see a return to the traditional hard market this year or next, an insurance expert told reinsurance actuaries at the Casualty Actuarial Society’s Seminar on Reinsurance.

Robert Hartwig, president and economist of the Insurance Information Institute, noted that four criteria have to be present for a truly hard market, one in which rates climb sharply

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