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January 21, 2021 Edition

 
Headlines
 
 
Traffic deaths jumped dramatically after coronavirus lockdowns ended in 2020, rising 13.1% in the three months ending Sept. 30 to the highest rate since 2005, despite a decline in driving, U.S. auto safety regulators said.
 
 
Topography affects wildfire risk, so it’s important to understand the elevation, slope and aspect of the properties you insure or are considering insuring.
 
 
Business
 
 
Pandemic outbreaks are now among the top business risks globally, while political risks and violence have returned to the ranks of the top global perils for the first time in three years in the Allianz Risk Barometer 2021.
 
 
AM Best and Moody's are both seeing stability in the future for the U.S. personal lines insurance segment, due in part to the likelihood of sustained profitability for auto insurance.  
 
 
 Education
 
Electric vehicle fires pose safety risks to first responders, and guidelines from manufacturers about how to deal with them have been inadequate, say U.S. investigators. There are also gaps in industry safety standards and research on high-voltage lithium-ion battery fires, especially in high-speed, severe crashes.
What is the biggest lesson that cyber insurers should carry into 2021 after a year in which the COVID-19 pandemic took center stage? An insurance executive says lessons learned from the coronavirus pandemic and from recent significant cyber attacks are more related than insurers may think.
The Department of the Interior announced three new actions by the Bureau of Land Management, U.S. Fish and Wildlife Service and the National Park Service to aggressively increase broadband internet access in rural communities and reduce wildfire risks. 
 
Environment
 
 
Development patterns and population density in states including Delaware, Connecticut and New Jersey are putting new and existing homes at risk. In Florida, geography makes many cities especially susceptible to the risks of sea level rise.
 
 
By 2050, climate change-related weather events will have a meaningful impact on future hurricane losses, increasing them by 20% or more and in some cases doubling them, even without any increase in property exposure along the coast.
 
 
The Southwest U.S. is mired in an ever-worsening drought, one that has left deer starving in Hawaii, turned parts of the Rio Grande into a wading pool and set a record in Colorado for the most days of exceptional drought. The situation is likely to get worse.
 
 
Innovation
 
 
Microsoft joins General Motors, Honda and other institutional investors in a combined new equity investment of more than $2 billion in Cruise, a leader in driverless technology that GM acquired in 2016. 
 
 
Curated weekly by BuildingMetrix experts,  InsuranceEDGE helps you work smarter. You don't want to miss an issue. Get InsuranceEDGE delivered to your inbox every Thursday. BuildingMetrix is a WSRB company. 
 
 
 
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