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December 10, 2020 Edition

Headlines


 
There aren't many contexts where $2 trillion seems like a paltry sum. Then a pandemic comes along. The global non-life insurance industry’s $2 trillion in capital won’t last in a “black swan” event, such as a cyber attack or another pandemic, that hobbles the global economy.
 

Business


 
Past regulatory rulings suggest employers will be allowed to mandate employees get a COVID-19 vaccine, but legal experts say companies should wait for vaccines to undergo a full regulatory review before setting such a mandate. 
 
 
Premium renewal rates increased month-over-month in November for business owners policy, general liability, commercial property and workers compensation coverages, while rates decreased for commercial auto and umbrella, according to a new report.
 

Education


Violence is a problem in the U.S., says an insurance industry expert. Acts of workplace violence can result in litigation and claims, and the costs of violence and its impact on property-and-casualty insurers and reinsurers are high. 
A team of scientists at the University of British Columbia says tall buildings across the metro Vancouver region will shake much more than currently predicted by Canada’s national seismic hazard model if and when a magnitude 9.0 earthquake hits.
Ratings agency A.M. Best Co. is maintaining its “negative” outlook for the U.S. commercial lines segment for 2021 amid ongoing uncertainties related to COVID-19 and its economic fallout.
An Arizona federal district court has ruled in Chubb Ltd.’s favor and held a resort cannot recover its business interruption losses under its pollution liability coverage.

Environment


 
For hundreds of thousands of Californians, buying homeowners insurance has turned into a labyrinthine quest that leaves people with expensive, bare-bones coverage.
 
 
The National Oceanic and Atmospheric Administration said the 2020 Atlantic hurricane season set multiple records while producing a record 30 named storms.
 

Innovation


 
More than 8 million acres of U.S. land have burned so far this year due to wildfires. Regenerating the forests that sat on much of that land would ordinarily take years and involve hundreds of people manually replanting saplings grown in dedicated nurseries. Enter seed-dropping drones. 
 
 
Major automakers are proposing a national pilot program for autonomous vehicle testing and deployment. They're asking regulators to make it easier to temporarily deploy and test self-driving cars that do not meet safety standards and asking Congress for tax incentives for research and development. 
 

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