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February 17, 2022 Edition

Headlines
 
 
 
A new study found the West’s 21st-century drought is the worst in 1,200 years. Los Angeles is working to stave off a crisis by recycling 100% of its wastewater.
 
 
Smoke Alarm
The increasing vapor pressure deficit, which is an indicator of how much moisture the air can suck out of soil and plants, poses an increased wildfire risk in areas where plants and vegetation are already prone to drying out. 
 
 

 

Business
 
 
 
Many industries are experiencing changes and challenges due to the COVID-19 pandemic, economic forces and tough insurance market conditions in 2021. Here are 10 industry sectors that could see new and emerging risks in 2022 and beyond.
 
 
“Net underwriting losses worsened in the third quarter, driving insurers’ combined ratio to 104.5 and contributing to a 57% plunge in net income after taxes."
 
The two possessions that most concern insurers — homes and motor vehicles — happen to be the largest contributors to the historic 7.5% inflation rate.
 
 
Remington Arms will pay $73 million to the families of five adults and four children killed in the Sandy Hook Elementary School massacre.
 
A judge has denied a request for a preliminary injunction to halt the enforcement of an order from California Insurance Commissioner Ricardo Lara.
 
 

 

Education
 
 
 
A key measure of inflation climbed to a near-40-year high last month. Economists are hopeful that America will reach the peak of the pandemic-era price increases in the early months of 2022. Here's to hoping.
 
 
A new report from the U.S. Government Accountability Office (GAO) found most of the country’s critical infrastructure have yet to take steps toward adopting a nearly decade-old framework to improve cybersecurity.
 
 
A spike in theft and vandalism has many Seattle business owners eating the losses instead of filing insurance claims because they fear their coverage will be dropped.
 
 

 

Environment
 
 
 
La Niña is expected to stick around for at least a little while longer, with the transition back to neutral conditions most likely not taking place until at least later in spring.
 
 
In a USGS Hazard Notification statement, Cascades Volcano Observatory announced their scientists have tracked an increased rate of ground uplift in the Three Sisters volcanic region.
 
 
The surge in seismic activity from increased underground pressure is shaking the West Texas ground and rattling longtime residents.
 
 
Officials have issued a series of recommendations for homeowners to better protect themselves and their communities from devastating wildfires. 
 
 
Commercial property insurance buyers with wildfire exposures will see average 2022 rate increases of 10% to 20%, or more.
 
 
The U.S. Forest Service in Oregon will receive more than $262 million in federal disaster funding to help with wildfire recovery.
 
 
 
Topics:wildfireemerging and evolving risksdrought

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