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July 15, 2021 Edition

Headlines
 
 
 
The tragic partial collapse of Champlain Towers in Surfside, Florida, could roil insurance markets for condominium buildings in the area from both property and liability standpoints.
 
 
Governor Jay Inslee declared a statewide state of emergency Tuesday and introduced a ban on most outdoor and agriculture burning through Sept. 30, 2021.
 
 

 

Business
 
 
 
General liability and excess umbrella commercial insurance rates increased again during mid-year renewals, but policyholders generally saw smaller price hikes than a year ago. New capital entering the market can help blunt rate increases.
 
Explore examples of construction problems that often lead to claims and litigation, yet can be easily addressed in the field. Each requires supervision, oversight and continual observation to detect and a timely response by the developer, contractor and end user.
 
 

 

Education
 
 
 
Quickly access helpful answers about WSRB Loss Costs and discover links to some of our most useful related articles.
 
 
Researchers from Colorado State University boosted their prediction for named tropical storms in the 2021 Atlantic hurricane season in a revised forecast.
 
 
Insurers are changing cyber coverage to no longer reimburse customers for ransomware payments. The impact is likely to be more complicated than some insurers expect. 
 
 
Central and Western Europe, North America and Australia were all hit with natural disasters last month. *This link takes you directly to the report from Aon in Microsoft Word format.
 
 

 

Environment
 
 
 
Firefighters struggled to contain an exploding Northern California wildfire as another heat wave prompted an excessive heat warning for inland and desert areas.
 
The states of the West, primarily Arizona and Nevada, now face hefty cuts in their water supplies amid a two-decade drought fiercer than anything seen in a millennium.
 
 
Rising sea levels and other factors will cause coastal cities all around the U.S. to begin seeing a decade of dramatic increases in flood numbers.
 
A U.S. Forest Service video shows a fire-fueled thunderstorm cloud that was caught on weather radar. (Click on "Smoke and flames" to see the Twitter video.)
 
 

 

Innovation
 
 
 
Insurance companies focused on the customer experience may want to reconsider how they are delivering claims payments. Data from a digital payments software vendor suggest policyholders would like a choice other than having the payments sent by check in the mail.
 
 

About InsuranceEDGE

 

 

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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