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February 4, 2021 Edition

Headlines
 
 
 
The loss total was the fourth-largest since 2011 and about 17% higher than the 10-year average of $66.5 billion.
 
 
When wildfires roar through a forest and bulldozers dig into the earth to stop advancing flames, they may be transporting countless living microbes that can seep into our lungs or cling to our skin and clothing.
 
 

 

Business
 
 
 
Surplus lines premiums reported to U.S. surplus lines stamping and services offices increased 14.9% to $41.7 billion in 2020, despite a 1.3% decline in transactions to 4.9 million.
 
 
As many people continue to work from home, the chances have increased of them developing a serious physical or mental condition, including carpal tunnel, eye-strain or more complex mental health issues like anxiety and depression.
 
The new guidance from the Occupational Safety and Health Administration seeks to protect all types of workers, not just ones who are deemed to be at higher risk of contracting the novel coronavirus depending on where they work.
 
 
President Joe Biden signed an executive order that could make it easier for people to qualify for jobless benefits if they quit or refuse a job that puts them at undue risk of infection from the coronavirus.
 
A Florida restaurant owner has asked the U.S. Supreme Court to take a case that could clarify whether the COVID pandemic’s impact on a restaurant’s sales qualifies as physical damage or loss.
 
 

 

Education
 
 
 
Cyber criminals shifted away from stealing individual consumers' information in 2020 to focus on bigger, more profitable attacks on businesses.
 
 
Despite the coronavirus pandemic, AM Best and Moody’s Investors Service give the U.S. personal lines insurance segment a “stable” rating for 2021.
 
 
Fire doors play a key role in preventing the spread of fire throughout a building. Learn how they can also affect the results of a WSRB inspection.
 
 
When a fire broke out at a fire station in Chelan County, Washington, sprinklers helped contain it and to prevent severe damage to the $2 million facility and the $2 million in apparatus and equipment. 
 
 
Automotive thefts have declined only slightly over the past decade, and the crime remains common in some cities, especially those in the Western U.S.
 
 
A new ranking looked at factors like average gas price, cost of insurance, cost of maintenance, traffic congestion, road quality and traffic fatality rate.
 
 

 

Environment
 
 
 
Research related to the economic impacts of climate change has been growing and gaining momentum, say researchers. They recommend insurers consider prevention and mitigation, not just paying claims, as key elements of a sustainable response. 
 
Last year saw a total of 416 natural catastrophe events worldwide resulting in economic losses of $268 billion. Analysts say losses are driven by a changing climate, more people moving into hazard-prone areas, and an increase in global wealth.
 
 

 

Innovation
 
 
 
Losses from cryptocurrency theft, hacks and fraud fell 57% last year to $1.9 billion, as market participants boosted security systems, but crime in the “decentralized finance” space — transactions on platforms that facilitate lending outside of banks — continued to grow.
 
 

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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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