CORELOGIC ESTIMATES $41 BILLION TO $70 BILLION IN INSURED AND UNINSURED WIND AND FLOOD LOSSES FROM HURRICANE IAN

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CoreLogic announced its damage estimates from Hurricane Ian totaling between $41 billion and $70 billion, which includes wind loss, insured and uninsured storm surge loss and inland flood loss for residential and commercial properties.

Hurricane Ian’s large wind field and landfall path caused wind and coastal storm surge damage along the densely populated Florida coast. Florida had been a popular destination during 2020 and 2021 due to the state’s lack of income tax and housing with lower cost per square foot than homes in other coastal metros. According to CoreLogic, nearly 66,000 pending mortgage applications worth nearly $22.5 billion are currently in progress in Florida, North Carolina and South Carolina and are at risk from Hurricane Ian damages.

SOUTH PORTLAND, MAINE ATTORNEY TO LEAD STATE’S EFFORTS TO HELP FARMERS HURT BY PFAS

SpectrumLocalNews.com

South Portland recently appointed Elizabeth Fuller Valentine, an attorney in Portland, Maine as the state’s new PFAS Fund Director. Valentine will lead efforts to provide $60 million in relief to Maine farmers affected by the costs associated with PFAS contamination. Those costs may include support for lost income, medical testing, and research that could identify remediation systems for soil and water affected by the contamination.

PFAS has been found in sludge and drinking water on some farms in Maine. According to the U.S. Environmental Protection Agency, exposure to high levels of PFAS, known as “forever chemicals” -- because they don’t break down in the environment -- can lead to an increased risk of some cancers.

THE ‘HURRICANE TAX’: HOW IAN IS PUSHING FLORIDA’S HOME INSURANCE MARKET TOWARD COLLAPSE

www.Route-Fifty.com

When Hurricane Ian pummeled Florida in early October 2022, it left a trail of physical destruction in its wake. Entire neighborhoods were submerged in water, cities were damaged by 150-mile-per-hour winds, and thousands of people lost their homes overnight.

The fallout from Hurricane Ian will be both physical and financial. Wind damage is typically covered by standard homeowner’s insurance, and the reimbursements required by Hurricane Ian’s extensive loss are potentially accelerating the collapse of the state’s homeowner’s insurance industry.

Home insurance costs are positioned to increase for Florida residents. The state will be forced to impose new taxes and penalties as it tries to keep the insurance market functioning. While homeowner’s insurance nationwide averages around $1,500 annually, Floridians pay almost three times as much. Hurricane Ian has the potential to make life in Florida more expensive for everyone in the state that owns a home or a car.

CLEANUP PLANNED FOR DECADES-LONG CONTAMINATION IMPACTING NE WICHITA NEIGHBORHOOD

www.KMUW.org

A nearly $14 million project is planned to clean up a contaminant that dates to the early 1990s in the NE Wichita neighborhood of Millair. The contaminant, trichloroethylene, commonly used to degrease metals has been traced back to the Union Pacific railyard by the City of Wichita and the Kansas Department of Health and Environment (KDHE).

The contaminant can cause health problems, including kidney cancer. The toxic groundwater and soil run 2.9 miles across northeast Wichita and are sitting on the football field at Gordon Park. The KDHE is seeking input on the cleanup.

VERSAILLES MEGA MANSION SUFFERS $10M IN HURRICANE IAN DAMAGES

News.Yahoo.com

The 90,000-square-foot Versailles mansion from the 2012 documentary “Queen of Versailles” endured $10 million in damages due to Hurricane Ian. The storm flooded several floors of Jackie Siegel’s home at 6121 Kirkstone Lane in Windermere, Florida. Jackie Siegel and her husband David Siegel recently installed 24-karat crown molding that is now crumbling to their living room floor. The 13-bedroom, 23-bathroom mansion spans three floors and sits on a 10.1-acre lot. The former model anticipates a cost of around $100,000 just to pump out the water.

WHAT HURRICANE IAN DESTROYED IN A FLORIDA BEACH TOWN

www.Boston.com

Fort Myers Beach, Florida, acts as a barrier island on the southwestern side of Florida. Fort Myers sustained extensive damage after Hurricane Ian made landfall on September 28th. Boats were washed up into neighborhoods and some buildings were gone entirely. The buildings that did remain standing had their entire first floor destroyed. The Ney York times was able to identify 400 buildings as visibly damaged through a survey of photographs and videos of the Hurricane Ian's aftermath. The damage identified is just a fraction of the destruction brought by the storm across all of Fort Myers Beach and the swath of the central Florida coast. The main commercial area, nicknamed “Times Square,” was almost completely leveled.

A LOOK AT THE CONTAMINATION AND CLEANUP OF NORTHWEST TERRITORIES GIANT MINE

www.CBC.ca

The Giant Mine in the Northwest Territories, near Yellowknife, Canada, estimated to be the biggest environmental clean-up in Canadian history. The mine operated from 1948 to 2005 and produced 220 tons of gold. It covers 900 hectares just outside Yellowknife along the shores of Great Slave Lake. There are about 100 buildings, 25 large piles of junk and rusting machinery, 30 kilometers of road, eight open mine pits, six tailings’ ponds, and 13 underground chambers still exist on the site.

13.5 million tons of arsenic-contaminated soil is on the surface; 237,000 tons of arsenic trioxide is in underground chambers; and an unknown amount of asbestos is in buildings on the site. The plan is to freeze underground arsenic in perpetuity, pump and treat seepage from mine in perpetuity, and attempt to destroy the hazardous waste. The aim is to remediate parts of the site to residential standards and others to industrial standards. The goal is to be completed by 2031.

SEA IN DANGER, CONTAMINATED BY HUMAN AND INDUSTRIAL WASTE

www.FirstPost.com

The Republic of Tunisia's 1,300-kilometer coastline is being threatened by pollution. The Ministry of Health publishes a list every year of beaches where swimming is prohibited due to water analyses indicating the significant levels of fecal matter in the sea. The Tunisia government’s laissez-faire policies offer no solution for industrial facilities to limit the pollutants they release into the environment. Residents continuously complain about the odor coming from the ocean and the visible streams of brownish water running from factories straight into the ocean.

SILVER STRAND SHORELINE CLOSED DUE TO SEWAGE CONTAMINATION

www.SanDiegounionTribune.com

San Diego County Health Officials closed the Silver Strand Shoreline on September 24th due to sewage contamination in the water. The beach has been closed to swimmers, surfers, and other users after flows from the Tijuana River and northerly ocean currents swept untreated wastewater into the area. The beach will remain closed until samplings from the ocean conclude that the water is no longer dangerous to contact. Silver Strand Shoreline, Tijuana Slough, and Imperial Beach Shoreline have been closed due to the sewage contamination. Tidelands Park in Coronado, Shelter Island, La Jolla Cove, Campland in Mission Bay, and Children’s Pool in La Jolla are under an ongoing water quality advisory.

KING COUNTY MOVES TOWARD $5 MILLION SETTLEMENT WITH SUQUAMISH TRIBE OVER SEWAGE OVERFLOWS

www.SeattleTimes.com

King County, Washington, is prepared to pay over $5 million to settle a threatened lawsuit from the Suquamish Tribe. The threatened lawsuit regarded the millions of gallons of sewage spills that have overflowed from county treatment plants into Puget Sound, Washington. The settlement also sets timelines for an estimated $600 million in improvements over the next decade to the county's West Point Treatment Plant in Seattle, Washington's Discovery Park. The settlement includes a $40,000 penalty for missed deadlines and $10,000 for each additional month of delay. Half of the proposed $5 million settlement would go into a mitigation fund, controlled by the tribe. The other half would go toward a new environmental project of the county’s choosing and must be completed within five years.

WELLS FARGO TO PAY $94M TO SETTLE MORTGAGE FORBEARANCE SUIT

FairShake.com

A class-action lawsuit filed against Wells Fargo argued that they sent more than 200,000 mortgage borrowers into forbearance during the pandemic unlawfully and without their consent. Wells Fargo agreed to pay $94 Million in order to settle the lawsuit. This decision by Wells Fargo damaged borrowers’ credit scores, making it more difficult for them to refinance their mortgages when rates were at their lowest levels in history and violated the CARES Act. Wells Fargo has denied any wrongdoing and said its underwriting practices are consistently applied regardless of the customer.

FOUR COMPANIES IN $437K SETTLEMENT OVER RYE BROOK MERCURY CONTAMINATION CASE

WestFairOnline.com

American Iron & Metal Co., Culp Industries, Paramount Global, and Public Service Company of New Hampshire have agreed to a $437,255 settlement with the federal government for their role in contaminating the Village of Rye Brook, New York, with thousands of pounds of mercury. The contamination occurred at Port Refinery; a mercury refining business bordered by private residences. A ruling by the EPA has determined that Port Refinery took close to no environmental precautions or safety measures during its mercury refinement process between the 1970s and 1990s. The contamination resulted in two separate EPA remediation projects involving more than 9,300 tons of contaminated soil.

CONTAMINATION AT TIWAI POINT SMELTER SITE, REPORT FINDS

www.NewsTalkzb.co.nz

New Zealand Aluminum Smelters (NZAS) has commissioned a report and discovered "numerous legacy and ongoing sources of contamination to the environment" at its Tiwai site. EHS Support, a consultancy with international experience in decommissioning smelters, concluded that chemicals have been discharged into the environment including groundwater, soil, and coastal marine areas. Fluoride was recorded at 8-16% concentration within surface soil in some areas. NZAS has estimated it'll cost around $700 million to clean up the site when the smelter enters the remediation phase.

MOSQUITO FIRE: HOW TO FIND OUT IF YOUR HOME WAS DAMAGED IN THE WILDFIRE

www.SFGate.com

California Fire's Damage Inspection Specialist Team has started assessments in the Volcanoville, Georgetown, and Quintette areas following the Mosquito Fire. They will be providing a new map that shows the conditions of homes in the area. These assessments will be ongoing as the fire continues to burn. Officials are recommending homeowners periodically check the map because the map will continue to be updated as information becomes available. More than 5,800 structures in Placer and El Dorado counties were under threat along with 11,000 residents of local communities.

HUNDREDS EVACUATED IN WEST INDONESIA AFTER MAGNITUDE 6.1 EARTHQUAKE

www.ChinaDailyHK.com

On September 11th, nearly 200 people were evacuated to higher ground after a 6.1 earthquake stuck on the western side of Jakarta, Indonesia. The earthquake originated from 17 miles below sea level and was followed by another 5.3 magnitude earthquake in the same area. Although there was no danger of a tsunami, one person was reported injured by falling wood. Residents claimed that the earthquakes shook their wooden houses violently. A local health center and elementary school suffered damages during the storm. The Eastern New Guinea region in Papua New Guinea suffered a 7.6 magnitude earthquake on the same day.

$11.3 MILLION NIH SUPERFUND AWARD TO ADDRESS ENVIRONMENTAL HEALTH ISSUES CAUSED BY VOCS

Wayne.edu

Wayne State University has received a five-year $11.3 million award from the National Institute of Environmental Health Sciences of the National Institutes of Health. This award was given to create a new Superfund Research Program, the Center for Leadership in Environmental Awareness and Research, or CLEAR. The center will be dedicated to understanding and mitigating adverse birth outcomes and serious developmental health problems that have been associated with urban environmental exposure to volatile organic chemicals. These pollutants are found on the sub surfaces of postindustrial cities like Detroit. CLEAR will provide new methods for assessment, testing and mitigation to help reduce toxic exposures and improve health outcomes. Headquartered on the Wayne State University campus, CLEAR will focus on Detroit as the principal study site.

MORTGAGE RATES HIT 5.89% HIGHEST LEVEL SINCE THE 2008 HOUSING CRASH

TedMag.com

U.S. mortgage rates have hit their highest levels in almost 14 years. The 30-year rate jumped to 5.89% from 5.66% recently. That's the highest the long-term rate has been since November of 2008. A year ago, the rate stood at 2.88%. The Federal Reserve announced in March, 2022, that it was raising its benchmark short-term interest rate. We are also seeing the first time the 15-year rate has been above 5% since 2009. A year ago, the rate stood at 2.19%. Home buyers will pay up to $600 more per month for a conventional 30-year mortgage. Home prices have continued to climb, and were nearly 16% higher in July, 2022, compared with a year ago.

WOMAN WHO BOUGHT $19 MILLION PENTHOUSE IN NYC IS SUING A REAL-ESTATE AGENCY AFTER FOR TRICKING HER INTO THINKING THE BUILDING HAD A FULL-TIME DOORMAN

www.Yahoo.com

The New York Post reported that a woman had bought a penthouse in at 37 Warren Street, Tribeca, New York, for $19 million and was suing Corcoran Group and Zoelle LLC on the claim that they tricked her into believing she would have a full-time doorman. The buyer terminated the contract in August and demanded a refund of her $1.9 million deposit after learning that the seller and brokers had concealed that there was a part-time doorman and virtual doorman in the evenings. She's seeking punitive damages in excess of $2.5 million as well as the reimbursement of her legal fees.

RANCH OWNER: CORNER-CROSSING DAMAGES COULD EXCEED $7 MILLION

www.WyomingNews.com

The owner of Elk Mountain Ranch claims that four hunters corner-hopped to hunt public land near his property and caused damages that could exceed $7 million. Iron Bar attorney Gregory Weisz signed a disclosure statement that alleges damages of between $3.1 million to $7.75 million. The document was signed Aug, 29, 2022, and served to those involved in the corner-crossing case. A decision that corner crossing or other ways of accessing public land is not trespassing could devalue a ranch because the ranch would no longer be closed property. The suit claims the men trespassed by passing through the airspace above the ranch, interfering with “the exclusive use, possession, and control” of the property. The disclosure statement is four pages long and is supported by what one source said is another 104 pages of deeds, an appraisal and other material.

"WORST-EVER" STORM TO HIT SOUTH KOREA THREATENS CATASTROPHIC DAMAGE

www.NYTimes.com

Super Typhoon Hinnamnor is forecasted to be the strongest storm in South Korea's history. The storm is supposed to hit the coastal areas of South Korea within the first week of September, 2022. Extremely intense wind and rain could cause a typhoon surge and flooding. The nation of South Korea should be prepared to prevent any catastrophic damages. Hinnamnor is forecast to be even more destructive than Typhoon Sarah in 1959. Typhoon Sarah killed more than 600 people and injured 2,533, and caused 249 billion won ($180 million) in property damage