California has already surpassed the acreage burned at this point last year, which ended up setting the record. Now, embers carried miles by the wind are igniting vegetation in rugged landscapes, where it’s hard to attack or build a perimeter to prevent the fire from spreading.
A judge struck down a California ballot measure that exempted Uber and other app-based ride-hailing and delivery services from a state law requiring drivers to be classified as employees eligible for benefits and job protections. Uber said it planned to appeal.
Insurance carriers and agents may want to pay more attention to small business insurance customers, especially those with commercial auto and workers’ compensation policies. They’re feeling neglected and experiencing difficulties getting support.
Performance among a selection of non-life reinsurers improved during the first half of 2021. The group’s combined ratio dropped to 94.5% from 105.9% during the first half of 2020, and net premiums written jumped 18.47% to $72.78 billion.
Worldwide insurance merger-and-acquisition activity slipped slightly in the first half of 2021, with 197 deals compared with 201 for the same period last year. Larger deals dominated with 11 deals over $1 billion, compared with 15 big deals in all of 2020.
The declaration of an official water shortage for the massive Lake Mead reservoir will reduce water supplies to parts of the drought-stricken Southwest, as 10 Western governors appealed for federal drought disaster aid.
For most insurers, the COVID-19 pandemic exposed an immediate need to upgrade their risk and solvency modeling capabilities, leading them to turn to outside vendors to strengthen their risk management.
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