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☆ Taylor Swift, Magic Johnson, and Sam Altman made Forbes' billionaires list for the first time. Here are the newcomers to know.
▼ + stars: | 2024-04-03 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Taylor Swift, Magic Johnson, and Sam Altman are among the new additions to Forbes' billionaire list. Swift's "The Eras Tour," Johnson's business deals, and Altman's startup bets have paid off hugely. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTaylor Swift, Magic Johnson, and Sam Altman are among the 265 new faces on Forbes' annual list of billionaires, published this week. This story is available exclusively to Business Insider subscribers.

Persons: Taylor Swift, Magic Johnson, Sam Altman, Forbes, Lisa Su, Todd Graves, Christian Louboutin, —, Swift Organizations: Service, Forbes, Business

☆ McDonald’s and other restaurant chains look to the Sun Belt for growth as population soars
▼ + stars: | 2024-03-09 | by ( Amelia Lucas | ) www.cnbc.com time to read: +7 min

The chain's sales are "way stronger" in Texas, Arizona and Florida than in midwestern states such as Indiana and Wisconsin, according to Osanloo. For more mature companies such as McDonald's , it means accelerating new restaurant growth in areas where it's now underrepresented. It isn't just restaurants looking to the Sun Belt for sales growth. In addition to well-known chains, Greider has also seen restaurants with chef-driven name recognition traveling south from New York and Chicago. The chain's sales are growing again, according to Brix Holdings CEO Sherif Mityas, making it an opportune time to expand Friendly's footprint.

Persons: Portillo's, Michael Osanloo, you've, Justin Greider, Macy's, Phillips, Manu Steijaert, Greider, they've, that's, Carbone, Friendly's, Sherif Mityas, Mityas, we're, Christine Barone Organizations: Beef, CNBC, Northeast, Sun, Airlines, Dallas, Phillips Edison & Company, JPMorgan, Grill, Major Food Group, Brix Holdings, Brix, Bros Locations: Kissimmee , Florida, Chicago, Texas, Texas , Arizona, Florida, Indiana, Wisconsin, U.S, Midwest, Charlotte, Phoenix, Houston, Dallas, Fort Worth, Atlanta, Florida , Texas , Arizona, Georgia, North Carolina, New York, Miami, Massachusetts, Mississippi, Minneapolis, Southern California, California, Virginia

☆ McDonald's says its chicken options are now just as popular as beef
▼ + stars: | 2024-02-06 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

McDonald's makes as much money from chicken products as from beef burgers, its CEO said Monday. McDonald's told investors in December that it planned to offer the McCrispy in almost all its markets globally by the end of 2025. We've also added smoked chicken wings, and that was a direct response to Gen Z." Taco Bell's former CEO Mark King told Bloomberg that its Gen Z customers were increasingly opting for chicken over beef. Wendy's told BI that its Spicy Chicken Nuggets were especially popular among Gen Zers.

Persons: McDonald's, Chris Kempczinski, —, Ian Borden, Kempczinski, McSpicy, Chick, Laura Dickey, we've, hasn't, We've, Gen, Taco, Mark King, Wendy's, Zers Organizations: Service, KFC, Gen, Bloomberg, Morning Locations: Singapore

☆ YouTube shorts won influencer marketers' attention in 2023 with a 700% spending boost as investment in short-form content climbed
▼ + stars: | 2024-01-17 | by ( Marta Biino | ) www.businessinsider.com time to read: +4 min

Short-form video dominated . Brands are investing more in short-form content on YouTube, and creators are starting to see returns. A variety of brands have invested in creator partnerships on YouTube shorts, CreatorIQ data showed. Categories like beauty and fashion — brands like Milani, E.l.f., Nyx, Shein, and Aritzia — also spent more on YouTube shorts. "While long-form beauty and fashion tutorials remain a YouTube staple, their popularity is waning as Gen Z prioritizes short-form video content."

Persons: —, Red Bull, Instagram, I've, Jade Beason, Beason, she's, Alasdair Mann, Logan Paul, Aritzia —, Alexander Rawitz, Z, Mann Organizations: Service, YouTube, Business, Unilever, Brands, NFL Locations: Red

☆ How the Raising Cane's founder, Todd Graves, turned a lousy college grade into a billion-dollar fast-food business
▼ + stars: | 2023-11-28 | by ( Nancy Luna | ) www.businessinsider.com time to read: +1 min

Todd Graves opened the first Raising Cane's in Louisiana on August 28, 1996. He wrote a business plan for a chicken fingers chain as a college assignment. AdvertisementWhile attending Louisiana State University in the mid-1990s, Todd Graves wrote a business plan for a fast-food restaurant that sold only fried chicken tenders. He worked to raise his own funds and eventually opened his chicken tender restaurant Raising Cane's in 1996. AdvertisementHere's how Graves turned a bad grade into a billion-dollar business.

Persons: Todd Graves, Cane's, Graves, —, Graves didn't Organizations: Bloomberg, Service, Louisiana State University Locations: Louisiana

☆ Some Chick-fil-A customers can now skip the drive-thru and have their chicken sandwiches delivered by drone
▼ + stars: | 2023-11-20 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Chick-fil-A began testing drone delivery in Texas and North Carolina last year. Retailers and restaurants testing drone service include Walmart, Amazon, and Jersey Mike's. Chick-fil-A restaurants in Granbury, Texas, and Durham, North Carolina, have been testing drone deliveries since September 2022. AdvertisementIn Florida, customers within the restaurant's drone drop zone can order delivery by drone through the Chick-fil-A app. Drone delivery is still experimental in the US but is catching on among top retailers and restaurant chains.

Persons: —, Chick, Cane's, Papa Organizations: Florida . Retailers, Walmart, Amazon, Service, Papa Johns , Jersey Mike's Subs, Cream, Little Caesars, Starbucks Locations: Texas, North Carolina, Florida, Jersey, Brandon, Granbury , Texas, Durham , North Carolina, Virginia Beach , Virginia, Tel Aviv, Papa Johns , Jersey, Little, Southern California, California, California , Texas

☆ I went to 3 Burger Kings in New York City and saw firsthand why the fast-food giant is closing hundreds of restaurants
▼ + stars: | 2023-11-15 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +2 min

Earlier this year, Burger King announced plans to close up to 400 restaurants in 2023. I visited three Burger King locations in New York City to see how it's serving its customers. Burger King operates more than 18,700 locations in more than 100 countries worldwide, including just under 7,000 in the United States. I visited three Burger King locations in New York City to see what the dining experience is like at the chain. Burger King did not respond to Business Insider's request for comment on this story.

Persons: Burger, —, Burger King, Joshua Kobza Organizations: Burger King, Service, Business, Restaurant Brands Locations: New York City, Burger, United States, Florida , Nebraska, Long, New York, Michigan, Nebraska , Utah, Minnesota

☆ New Zealand PM praises resilient All Blacks despite World Cup final loss
▼ + stars: | 2023-10-29 | by ( ) www.reuters.com time to read: +2 min

Oct 29 (Reuters) - New Zealand Prime Minister Chris Hipkins praised the All Blacks for their resilience and determination despite seeing Ian Foster's side slip to a narrow defeat against South Africa in the final of the Rugby World Cup in Paris on Saturday. "It's been incredible to see the team bounce back from that tough opening game against France and set the tournament alight. "New Zealand looks forward to welcoming the team home and celebrating their achievements." The All Blacks reached the final to defy lowly pre-tournament expectations, after a first-ever home series loss to Ireland and defeats against South Africa and Argentina in the Rugby Championship last year. "It's been an incredible seven weeks of rugby and the team has done New Zealand proud.

Persons: Chris Hipkins, Ian Foster's, Sam Cane's, Hipkins, It's, Ian Foster, Sam Cane, Grant Robertson, Michael Church, William Mallard Organizations: Zealand, Blacks, South, Rugby, . New Zealand, All Blacks, France, Rugby Championship, New Zealand, Springboks, Thomson Locations: South Africa, Paris, ., Japan, Argentina, France, New Zealand, Zealand

ACAPULCO, Mexico, Oct 27 (Reuters) - Looting ravaged the Mexican city of Acapulco after the iconic beach resort was hammered this week by Hurricane Otis, a record-breaking storm that killed at least 27 people and left thousands of residents struggling to get food and water. [1/5]People walk among rubble in the aftermath of Hurricane Otis, in Acapulco, Mexico, October 27, 2023. 'WE WERE LUCKY'Mexican authorities said Otis was the most powerful storm ever to strike Mexico's Pacific coast. To evacuate tourists, an air bridge between Acapulco and Mexico City was being set up on Friday after authorities got the city's battered airport back up and running. Lopez Obrador urged insurance companies to speed up payouts.

Persons: Hurricane Otis, Otis, everything's, Rodolfo Villagomez, Andres Manuel Lopez Obrador, Lopez Obrador, Raul Busto Ramirez, Letitia Murphy, Neil Marshall, Murphy, Quetzalli, we're, Enki, Lopez, Pope Francis, Joe Biden, America Movil, Alexandre Meneghini, Jose Cortes, Diego Ore, Kylie Madry, Laura Gottesdiener, Natalia Siniawski, Dave Graham, Chizu Nomiyama, Bill Berkrot, Sandra Maler, Raju Gopalakrishnan Organizations: Reuters, REUTERS, Central America, LUCKY, Otis, America, Thomson Locations: ACAPULCO, Mexico, Acapulco, Guerrero, Acapulco's, Hurricane, British, State, Mexican, Mexico City, Monterrey, Gdansk

☆ Rich teens can't get enough of Chick-fil-A, Starbucks, and Chipotle
▼ + stars: | 2023-10-11 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Wealthy teens were more than twice as likely to prefer Chipotle compared to average-income teens. Chick-fil-A was followed by Starbucks and Chipotle, the favorite restaurant brands of 16% and 13% of rich teens respectively, echoing previous survey results. Among average-income teens, Chick-fil-A still took the top spot, but significantly fewer – 14% versus 20% – listed it as their favorite. AdvertisementAdvertisementWealthy teens were more than twice as likely to list Chipotle as their favorite restaurant brand compared to average-income teens. Piper Sandler said that food was the top spending priority of teens, with meals accounting for an average of 22% of wealthy teens' spending and 18% of average-income teens' spending.

Persons: Piper Sandler, It's, —, Dunkin, Chick, Cane's Organizations: Starbucks, Service, NPD, Rolex Locations: Atlanta

☆ 'Extremely dangerous' Category 4 Hurricane Lidia heads to Mexico's Pacific coast
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

[1/9] Men board up the storefront of a business as Hurricane Lidia barrels towards Mexico's Pacific coast, in Puerto Vallarta, Mexico October 10, 2023. REUTERS/Christian Ruano Acquire Licensing RightsMEXICO CITY, Oct 10 (Reuters) - Hurricane Lidia reached Category 4 strength on Tuesday afternoon as it barreled towards Mexico's Pacific coast, where major beach and tourist resorts were bracing for significant downpours, likely flooding as well as imminent hurricane-force winds. The U.S. National Hurricane Center (NHC) warned that Hurricane Lidia was of "extremely dangerous" strength and could strengthen further before making landfall on Tuesday night. The hurricane was about 110 miles (177 km) southwest of major beach destination Puerto Vallarta, the Miami-based NHC reported in its latest bulletin at 5:30 p.m. The Puerto Vallarta airport announced on social media it was closing from 4 p.m. (2200 GMT) until 8 a.m. on Wednesday.

Persons: Lidia, Christian Ruano, Max, Raul Cortes Fernandez, Brendan O'Boyle, Isabel Woodford, Stephen Eisenhammer, Stephen Coates, Sandra Maler Organizations: REUTERS, Christian, MEXICO CITY, U.S, National Hurricane Center, NHC, Tropical, Thomson Locations: Puerto Vallarta, Mexico, MEXICO, Miami, Puerto, Nayarit, Sinaloa, Jalisco, Guerrero

☆ Home Sweet Times Square: How New York City can save Midtown Manhattan from the 'urban doom loop'
▼ + stars: | 2023-10-08 | by ( Eliza Relman | ) www.businessinsider.com time to read: +10 min

And New York City has had success transforming single-use office districts, most notably Lower Manhattan's financial district, into more vibrant mixed-use places. Times Square is one of those, according to Tom Harris, president of the Times Square Alliance, which represents the district's businesses. AdvertisementAdvertisement"I'm not negating it, but certainly the opportunities south of Times Square, to the west of Times Square, are a little bit better for development of the housing stock," he said. The mix of businesses around Times Square has changed in a way that could be appealing to potential residents. Times Square lost 179 businesses during the pandemic, but has since welcomed more than 180 new businesses into the neighborhood, according to the Times Square Alliance.

Persons: —, Eric Adams, Dan Garodnick, Garodnick, Lynne Sagalyn, Sagalyn, Andrew Lichtenstein, Susan Mello, Walker, Dunlop, Mello, Luiz C . Ribeiro, Tom Harris, Harris, aren't, Le Bernardin, haven't —, Gardonick Organizations: Midtown, Service, Garment, Eighth, New York City's Department of City Planning, Columbia University, Getty, Financial, Times Square Alliance, Times, Lambs, —, Taco Bell, Grand Central Madison Locations: Midtown Manhattan, Midtown, Manhattan, America, Manhattan . Old, York City, Lower Manhattan, hasn't, Retail, Long, New York

☆ Back to the drawing board for Foster's frustrated All Blacks
▼ + stars: | 2023-09-08 | by ( Nick Mulvenney | Thomson Reuters | Leads Coverage Of Sport Across The Asia-Pacific. Still Reports On The Full Panoply Of Sport. Many Olympics World Cups World Championships Grand Slams Grands Prix | ) www.reuters.com time to read: +3 min

Hot on the heels of a record test loss to world champions South Africa in their final warm-up, the All Blacks lost a perfect record in World Cup pool phase matches that went back to the first tournament in 1987. "Stats are stats and I understand all that, but in the past we've won all the pool games but not necessarily won the tournament, the goal is to win a tournament," Foster told reporters. "But we're not down in the sheds, we're just frustrated that we lost a game. "South Africa lost in 2019 the first game against us and went on to win the competition," he said. To win that we need to win the next three, and the way you do that is focus on the next one.

Persons: Ian Foster, we've, Foster, we're, Will Jordan, Sam Cane, Emoni Narawa, Ardie Savea, there's, Nick Mulvenney, Toby Davis Organizations: Blacks, South Africa, Thomson Locations: France, Namibia, Toulouse, Africa

Check Altitude. Check Altitude. Just zigzagging in and out, penetrating different parts of the eye wall and then going back into the eye. As soon as we started to rock a little bit everybody ran back to their jump seats and sat down. You could feel the intensity of the turbulence a little bit more, then a little bit more, and a little bit more.

Persons: I’m, we’re, Keesler Organizations: 130J, 53rd Weather Reconnaissance Squadron, Keesler Air Force Base Locations: Biloxi , Mississippi

STEINHATCHEE, Florida, Aug 30 (Reuters) - Florida's Gulf Coast braced on Wednesday for fierce winds, torrential rain and surging seawater from Idalia, forecast to become "an extremely dangerous" Category 4 hurricane, as it swirled toward a direct hit on the state's Big Bend region. Most of Florida's 21 million residents, and many in the adjacent states of Georgia and South Carolina, were under hurricane warnings and other storm-related advisories. Any storm reaching Category 3 or higher is considered a major hurricane. 1 killer in all of these storms is water," Deanne Criswell, the Federal Emergency Management Agency's administrator, said on CNN. Idalia-related disruptions extended to Florida's Atlantic coast at Cape Canaveral, where the Tuesday launch of a rocket carrying a U.S. Space Force intelligence satellite was delayed indefinitely.

Persons: Kevin Guthrie, Rene Hoffman, Idalia, Steve Pizzano, Adrees Latif, Biden, Ron DeSantis, Irma, Michael, Ian, DeSantis, Milton Bontrager, Maria Alejandra Cardona, Marco Bello, Joey Roulette, Rich McKay, Nelson Acosta, Dave Sherwood, Brad Brooks, Brendan O'Brien, Nandita Bose, Steve Gorman, Gerry Doyle Organizations: Reuters Graphics Reuters, National Hurricane Center, NHC, REUTERS, Federal Emergency Management, CNN, White, Florida, Republican, U.S . Space Force, Tampa International Airport, National Guard, Thomson Locations: STEINHATCHEE, Florida, Idalia, Bend, Gulf of Mexico, Georgia, South Carolina, Steinhatchee , Florida, Miami, Cedar Key , Florida, Gulf Coast, North, Sarasota, Apalachicola Bay ., Clearwater Beach , Florida, U.S, Gulf, Gainesville, Tallahassee, Tampa, St, Petersburg, Cape Canaveral, Cuba, Tampa , Florida, Atlanta, Havana, Guanimar, Longmont , Colorado, Chicago, Washington

☆ Hurricane Idalia chases Florida residents from the Gulf Coast as forecasters warn of storm surge
▼ + stars: | 2023-08-29 | by ( ) www.cnbc.com time to read: +7 min

The result could be a big blow to a state still dealing with lingering damage from last year's Hurricane Ian. She had a message for the almost 900 residents who were under mandatory orders to evacuate the island near the coast of the Big Bend region. More than a dozen state troopers went door to door warning residents that storm surge could rise as high as 15 feet (4.5 meters). At 2 p.m. EDT Tuesday, Idalia was about 240 miles (390 kilometers) south-southwest of Tampa, with maximum sustained winds of 90 mph (150 kph), the National Hurricane Center said. Idalia's initial squalls were being felt in the Florida Keys and the southwestern coast of Florida on Tuesday afternoon, including at Clearwater Beach.

Persons: Idalia, Ian, Sue Colson, Colson, Andy Bair, Hurricane Hermine, Bair, we're, Ron DeSantis, Brian Kemp, Russell Guess, Brian McNoldy, McNoldy Organizations: National Weather Service, Cedar Key, City, National Hurricane Center, Florida Keys, Clearwater Beach . Workers, Carolinas, . Georgia Gov, National Guard, Cunningham Tree Service, University of Florida, MacDill Air Force Base, Tampa Bay, Busch Gardens, United Launch Alliance, Atmospheric Administration, University of Miami Locations: Coast, Gulf, Mexico, Florida, Tallahassee, Bend, Cedar, Tarpon Springs, Tampa, Clearwater Beach, Georgia, Valdosta , Georgia, Cuba, Pinar del Rio, Hawaii, Canada, Greece, California, Vermont, Gainesville

☆ The ultra-rich hopping on the AI bandwagon might be the biggest sign the tech is legit
▼ + stars: | 2023-06-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

The job of family offices, investment firms tasked with managing the fortunes of the ultra-rich, has never been about getting massive returns. Which is why Hayley Cuccinello's story on family offices investing in artificial intelligence is so fascinating. Hayley spoke to executives at family offices about how they're navigating the modern-day gold rush that is AI investing. Of course, a lot of those deals never materialized and most family offices have now largely eschewed digital currencies altogether. The difference is family offices have largely gotten in on AI long before the bandwagon arrived, Hayley reports.

Persons: Dan DeFrancesco, It's, we've, Samantha Lee, Hayley Cuccinello's, Hayley, it's, Read, Erin McDowell, Goldman, Bill Gates, Morgan Stanley, James Gorman, Caniacs, Jeffrey Cane, Hallam Bullock Organizations: Mastercard, Refinitiv, Intelligence, Gates Ventures, Wall Street, LinkedIn Locations: Here's, Wall, Silicon, insider.com, Spain, Austin , Texas, Midtown Manhattan, New York City, New York, London

☆ Raising Cane's co-CEO on NYC expansion: Our goal is $10 billion in sales by end of decade
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRaising Cane's co-CEO on NYC expansion: Our goal is $10 billion in sales by end of decadeAJ Kumaran, Raising Cane’s co-CEO and COO, joins 'Squawk Box' to discuss the opening of the fast-food chain's flagship location, company outlook, and more.

Persons: Cane's, AJ Kumaran, Cane’s

☆ Ukraine's dam break disaster likely won't stop the big counter-offensive that has Russian troops on edge
▼ + stars: | 2023-06-07 | by ( Sam Fellman | ) www.businessinsider.com time to read: +3 min

The humanitarian disaster of the burst dam may only amount to a setback for Ukraine's military. Even before the dam break, the Dnipro River was a formidable obstacle for Ukrainian forces. Ukraine might have chosen to avoid a risky river crossing anyway for their counter-offensive. Ukraine accused Russian forces last October of mining the Russian-controlled dam. Instead of crossing the Dnipro, another option for Ukraine is to attack east of the river entirely.

Persons: —, Michael Kofman, Kofman Organizations: Service, Institute for, Russia, CNA, Twitter, Russian Locations: Dnipro, Ukraine, Nova, Kherson, Russia, Ukrainian, Zaporizhia, Ukraine's, Russian, Crimea

☆ Op-ed: The calm before the storm – These 3 drivers will dictate the landing ahead for the U.S. economy
▼ + stars: | 2023-02-28 | by ( Rebecca Patterson | ) www.cnbc.com time to read: +5 min

The approach of those storms seems an appropriate analogy to the U.S. economic outlook today. Investors today are keenly focused on what kind of economic landing the U.S. will have and how best to position for different outcomes. That's critical for the broader growth outlook, given that consumption represents around two-thirds of the economy. While many U.S. firms are expressing their nervousness about the economic outlook, they are at the same time still seeking to hire. A negative feedback loop would likely ensue, with less income weighing on spending and less spending making companies more cautious.

☆ Exclusive: Indian sugar mills to close early as rain hits cane supply - govt official
▼ + stars: | 2023-01-27 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +3 min

India has allowed sugar mills to export only 6.1 million tonnes of the sweetener in the current season and, out of that, mills have already contracted to export 5.7 million tonnes. Sugar mills in Maharashtra were operational until mid-June in 2021/22 as they were struggling to harvest a record crop. LOWER EXPORTSIn 2021/22 Maharashtra produced a record 13.7 million tonnes, higher than the initial estimate of 11.2 million tonnes, allowing New Delhi to export a record 11.2 million tonnes. As the sugar exports quota was nearly exhausted, the Indian Sugar Mills Association and other trade bodies were requesting the government to allow additional exports of up to 4 million tonnes. India mainly exports sugar to Indonesia, Bangladesh, Malaysia, Sudan, Somalia and the United Arab Emirates.

SummarySummary Companies Crystal Amber proposes removal of chairman, CEO and CFOProposes appointment of two new directorsShares up 5%Dec 23 (Reuters) - Hurricane Energy's (HUR.L) largest shareholder Crystal Amber Fund (CRSL.L) is calling for the removal of top management at the British company and the appointment of two directors from another firm that the fund says could invest in Hurricane. Activist investor Crystal Amber, which holds 28.9% in the North Sea oil and gas producer, said on Friday it had issued a requisition notice for a shareholder meeting, seeking to remove Hurricane Chairman Philip Wolfe, CEO Antony Maris, and finance chief Richard Chaffe. If the two are appointed, Crystal Amber said it would be supportive of bringing on Albion as an investor in Hurricane to raise funds for the company to spend on drilling programmes. Hurricane said it was reviewing the requisition notice from Crystal Amber and that all participants in its sale process had been requested to submit their bids by Jan. 7. "The Fund has concluded that in the continuing absence of a firm offer that reflects the value of Hurricane, it would be better served under new management," Crystal Amber said in a statement.

☆ Restaurants open on Christmas Day 2022: McDonald's, IHOP, Denny's, and more
▼ + stars: | 2022-12-23 | by ( Nancy Luna | ) www.businessinsider.com time to read: +8 min

Benihana: Open Christmas Day and Christmas Eve. Bar Louie: Open Christmas Day and Christmas Eve. May be open Christmas Day, depending on location or franchiseGolden Corral: Some locations will be open Christmas Eve and Christmas Day. Closed Christmas Day, but open Christmas EveTaco Bell: Restaurants are open on Christmas Eve. Friendly's: Open on Christmas Eve until 6 p.m.In-N-Out: Open from 10:30 a.m. to 11 p.m. on Christmas Eve.

While going through a costly divorce earlier this year, Cavanaugh's flood insurance coverage lapsed. Many people in the small coastal community, which faces the Gulf of Mexico southwest of Fort Myers, did not have flood insurance coverage. It appears that, despite an increased occurrence of devastating flood events, a declining percentage of people nationwide have flood insurance policies. Chuck Larsen / SantivaChronicle.com via APOne significant issue is that many homeowners assume a typical homeowner's insurance policy covers floods. The average cost of flood insurance from the National Flood Insurance Program is $995 a year, according to Forbes Advisor analysis.

Many of the most destructive and potentially deadly impacts of a hurricane — including storm surge, flooding and rainfall — are not accounted for in a storm's category number. "Hurricane Ian is a very large, slow-moving hurricane. "There have been several alternative scales proposed over the years and none have gained enough attention or traction by the National Hurricane Center," Collins said. "It is important to have such evidence before even proposing to the National Hurricane Center that this should be considered as a replacement." Kantha said the National Hurricane Center acts conservatively and carefully with changes, particularly those with legal implications.

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