Latest news with #Nyce
CNBC
4 days ago
- Climate
- CNBC
With an ‘above normal' hurricane season forecast, check these 3 things in your home insurance policy
It's officially hurricane season, and early forecasts indicate it's poised to be an active one. Now is the time to take a look at your homeowners insurance policy to ensure you have enough and the right kinds of coverage, experts say — and make any necessary changes if you don't. The National Oceanic and Atmospheric Administration predicts a 60% chance of "above-normal" Atlantic hurricane activity during this year's season, which spans from June 1 to November 30. The agency forecasts 13 to 19 named storms with winds of 39 mph or higher. Six to 10 of those could become hurricanes, including three to five major hurricanes of Category 3, 4, or 5. Hurricanes can cost billions of dollars worth of damages. Experts at AccuWeather estimate that last year's hurricane season cost $500 billion in total property damage and economic loss, making the season "one of the most devastating and expensive ever recorded." "Take proactive steps now to make a plan and gather supplies to ensure you're ready before a storm threatens," Ken Graham, NOAA's national weather service director, said in the agency's report. Part of your checklist should include reviewing your insurance policies and what coverage you have, according to Charles Nyce, a risk management and insurance professor at Florida State University. "Besides being ready physically by having your radio, your batteries, your water … you should pay close attention to your insurance policies," said Nyce. More from Personal Finance:How child tax credit could change as Senate debates Trump's mega-billThis map shows where seniors face longest drivesSome Social Security checks to be smaller in June from student loan garnishment You want to know four key things: the value of property at risk, how much a loss could cost you, whether you're protected in the event of flooding and if you have enough money set aside in case of emergencies, he said. Bob Passmore, the department vice president of personal lines at the American Property Casualty Insurance Association, agreed: "It's really important to review your policy at least annually, and this is a good time to do it." Insurers often suspend policy changes and pause issuing new policies when there's a storm bearing down. So acting now helps ensure you have the right coverage before there's an urgent need. Here are three things to consider about your home insurance policy going into hurricane season, according to experts. First, take a look at your policy's limits, which represents the highest amount your insurance company will pay for a covered loss or damage, experts say. You want to make sure the policy limit is correct and would cover the cost of rebuilding your home, Passmore said. Most insurance companies will calculate the policy limit by taking into account the size of your home and construction costs in your area, said Nyce. For example, if you have a 2,000 square foot home, and the cost of construction in your area is $250 per square foot, your policy limit would need to be $500,000, he said. You may risk being underinsured, however, especially if you haven't reviewed your coverage in a while. Rising building costs or home renovations that aren't reflected in your insurer's calculation can mean your coverage lags the home's replacement value. Repair and construction costs have increased in recent years, experts say. In the last five years, the cost of construction labor has increased 36.3% while the building material costs are up 42.7%, the APCIA found. Most insurance companies follow what's called the 80% rule, meaning your coverage needs to be at least 80% of its replacement cost. If you're under, you risk your insurer paying less than the full claim. Take a look at your deductibles, or the amount you have to pay out of pocket upfront if you file a claim, experts say. For instance, if you have a $1,000 deductible on your policy and submit a claim for $8,000 of storm coverage, your insurer will pay $7,000 toward the cost of repairs, according to a report by NerdWallet. You're responsible for the remaining $1,000. A common way to lower your policy premium is by increasing your deductibles, Passmore said. Raising your deductible from $1,000 to $2,500 can save you an average 12% on your premium, per NerdWallet's research. But if you do that, make sure you have the cash on hand to absorb the cost after a loss, Passmore said. Don't stop at your standard policy deductible. Look over hazard-specific provisions such as a wind deductible, which is likely to kick in for hurricane damage. Wind deductibles are an out-of-pocket cost that is usually a percentage of the value of your policy, said Nyce. As a result, they can be more expensive than your standard deductible, he said. If a homeowner opted for a 2% deductible on a $500,000 house, their out-of-pocket costs for wind damages can go up to $10,000, he said. "I would be very cautious about picking larger deductibles for wind," he said. Floods are usually not covered by a homeowners insurance policy. If you haven't yet, consider buying a separate flood insurance policy through the National Flood Insurance Program by the Federal Emergency Management Agency or through the private market, experts say. It can be worth it whether you live in a flood-prone area or not: Flooding causes 90% of disaster damage every year in the U.S., according to FEMA. In 2024, Hurricane Helene caused massive flooding in mountainous areas like Asheville in Buncombe County, North Carolina. Less than 1% of households there were covered by the NFIP, according to a recent report by the Swiss Re Institute. If you decide to get flood insurance with the NFIP, don't buy it at the last minute, Nyce said. There's usually a 30-day waiting period before the new policy goes into effect. "You can't just buy it when you think you're going to need it like 24, 48 or 72 hours before the storm makes landfall," Nyce said. "Buy it now before the storms start to form." Make sure you understand what's protected under the policy. The NFIP typically covers up to $250,000 in damages to a residential property and up to $100,000 on the contents, said Loretta Worters, a spokeswoman for the Insurance Information Institute. If you expect more severe damage to your house, ask an insurance agent about excess flood insurance, Nyce said. Such flood insurance policies are written by private insurers that cover losses over and above what's covered by the NFIP, he said.
Hamilton Spectator
01-05-2025
- Entertainment
- Hamilton Spectator
CBC, APTN quietly cancel planned comedy about Indigenous rap duo Snotty Nose Rez Kids
Indigenous hip-hop duo the Snotty Nose Rez Kids say they don't know why CBC and APTN have quietly cancelled plans for a comedy series about their rise to fame. Originally slated to premiere this year, the half-hour scripted show was billed as the 'not even true, real life story' of how Quinton (Yung Trybez) Nyce and Darren (Young D) Metz found their way from Kitamaat Village to award stages and music critics' best-of lists. 'Unfortunately, we simply don't really know what happened here. We felt the show was in a good place,' Nyce and Metz said Wednesday in a joint statement. 'We had a great team put together and good scripts, and we were taken aback by CBC's decision not to move ahead.' Following a report in the Globe and Mail, publicists for CBC and APTN issued identical statements saying the decision to withdraw from the series was not made lightly, citing 'various creative, logistical, and financial factors.' Nyce and Metz were credited as the show's creators, with 'Little Bird' co-creator Jennifer Podemski attached as showrunner and executive producer. A representative for Podemski said she left the project in July but did not state the reason. CBC announced the show last spring as part of its 2025 slate. Nyce and Metz said they're 'optimistic' about the show's future and were looking for a new home for the project. 'We haven't given up on this and we'll get this show made. We're used to setbacks, but we always persevere,' said the Haisla Nation artists. The Snotty Nose Rez Kids said on Instagram last week that a fire on April 23 destroyed their Vancouver recording studio, equipment and clothing store. The duo launched a GoFundMe campaign to assist in rebuilding the store and studio, which is where they recorded their latest album, 'Red Future.' That release won the rappers their first-ever Juno Award in March for rap album/EP of the year. Speaking to the Canadian Press last year, the rappers said their show would be about two artists realizing that success isn't as easy as it seems. 'For us, as native kids trying to pursue something, there weren't a lot of people who stood behind us. It was two steps forward and 10 steps back, and that's just the way that it is navigating this world that was never built for us,' said Nyce. 'It takes a decade in the making to have that overnight success. So, it's really about the journey and to truly see what an artists' day-to-day life is.' This report by The Canadian Press was first published April 30, 2025.
Winnipeg Free Press
30-04-2025
- Entertainment
- Winnipeg Free Press
CBC, APTN quietly cancel planned comedy about Indigenous rap duo Snotty Nose Rez Kids
CBC and APTN have quietly cancelled plans for a buzzy comedy series about the rise of Indigenous hip-hop duo the Snotty Nose Rez Kids. Originally slated to premiere this year, the half-hour scripted show was billed as the 'not even true, real life story' of how Quinton (Yung Trybez) Nyce and Darren (Young D) Metz found their way from Kitamaat Village to national fame. Following a report in the Globe and Mail, publicists for CBC and APTN issued identical statements saying the decision to withdraw from the series was not made lightly, citing 'various creative, logistical, and financial factors.' Nyce and Metz were credited as the show's creators, with 'Little Bird' co-creator Jennifer Podemski attached as showrunner and executive producer. A representative for Podemski said she left the project in July but would not state on the reason. CBC announced the show last spring as part of its 2025 slate. The Snotty Nose Rez Kids said on Instagram last week that a fire on April 23 destroyed their Vancouver recording studio, equipment and clothing store. The duo launched a GoFundMe campaign to assist in rebuilding the store and studio, which is where they recorded their latest album, 'Red Future.' During Elections Get campaign news, insight, analysis and commentary delivered to your inbox during Canada's 2025 election. That release won the rappers their first-ever Juno Award in March for rap album/EP of the year. Speaking to the Canadian Press last year, the rappers said their show would be about two artists realizing that success isn't as easy as it seems. 'For us, as native kids trying to pursue something, there weren't a lot of people who stood behind us. It was two steps forward and 10 steps back, and that's just the way that it is navigating this world that was never built for us,' said Nyce. 'It takes a decade in the making to have that overnight success. So, it's really about the journey and to truly see what an artists' day-to-day life is.' This report by The Canadian Press was first published April 30, 2025.
CBC
25-02-2025
- Entertainment
- CBC
For Snotty Nose Rez Kids, the wait for Red Future was worth it
Social Sharing Snotty Nose Rez Kids' recent album, Red Future, was ready to go over three years ago, but the pandemic prompted a change in direction. However, the wait seems to have been worth it, with the album earning the rap group one of three award nominations at the 2025 Junos — which happen to be taking place in their home city. The group, made up of Quinton "Yung Trybez" Nyce and Darren "Young D" Metz, say they're stoked to be attending and performing at the Vancouver awards show on March 30. The duo, originally from from Kitimaat Village in northern B.C., performed in Toronto at the 2022 Juno Awards. But Metz says performing at the Junos in Vancouver is "definitely a special moment for us, to be able to do what we do here in front of our hometown." Red Future, the group's sixth album, is nominated for Rap Album of the Year. Snotty Nose Rez Kids are in the running for Rap Single of the Year with BBE, which stands for "big braid energy," and Contemporary Indigenous Artist or Group of the Year. While being nominated in the Indigenous category might seem like an obvious choice to some, Metz says nominations in two rap categories feel like "it should have happened years ago," acknowledging the confidence that it takes to be a rapper. The rap category at the award show was first introduced in 1991, and the Aboriginal recording category, now known as Indigenous Artist or Group of the Year, debuted three years later. Red Future Growing up without exposure to Indigenous artists because of slow internet access on the reserve and no social media at the time, Snotty Nose Rez Kids say that their music is meant to inspire future generations of Indigenous youth. Red Future represents the future generations of Indigenous artists to come. As Nyce describes it, the album tells stories of Indigenous futurism and excellence. The album was initially slated to come out in 2021, but the COVID-19 pandemic prompted a different release, Life After, which represented life after the pandemic. After that came " I'm Good, HBU?" showing the world that the pair was good now. Now, Red Future looks into the future. Committed to creating space for Indigenous art, the album features 12 other Indigenous artists, including Tia Wood, Dreezus and Travis Thompson. "We wanted to have as many Indigenous voices as we could because we all come from the same place, but we all have different points of view," said Metz. "A lot of people don't make music like we do. For us, there's only so many people that are out there that are able to digest our music. We make music for a certain demographic of people, and the way that we represent them, we take that very seriously," said Nyce. Nyce says opportunities to perform were rare for an up-and-coming rap group in Vancouver. Because of this, the group worked to create that opportunity for themselves and others. "We didn't have a lot of opportunity to be able to showcase what we were capable of in this city, but what we did have is each other, and we had a community that followed us anywhere we went." Soon, they'll be performing again on one of the biggest nights in the Canadian music calendar.
