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July 7, 2022

 Headlines

 
 
 
Smoke Alarm
Many consumers have a strong interest in partially automated driving systems, but prefer those that require them to keep their hands on the wheel, stay engaged and have attention safeguards.
 
 

 

Business
 
 
 
Insurance regulation in the United States is overly complicated, unreasonably difficult and, at times, totally politically motivated.
 
 
Average U.S. commercial property/casualty rates rose 5.9% in the second quarter.
 
Commercial property insurance buyers should prepare well in advance of renewals.
 
 
Buyers at June 1 and July 1 reinsurance renewals faced capacity constraints, particularly for Florida catastrophe exposure.
 
The overall property/casualty insurance industry’s combined ratio is heading for more than 100% for the first time since 2017.
 
 
Property reinsurance rates rose by as much as 50% in Florida at July 1 renewals and by up to 40% in the US overall.
 
For the first time since the devastating U.S. hurricanes of 2004 and 2005, property-catastrophe capacity contracted.
 
 

 

Education
 
 
 
After a data breach revealed the personal information of Californians who applied for a concealed carry weapons permit, the California State Sheriffs’ Association released a statement saying the organization is “alarmed.”
 
 
Current happenings in the world of insurance.
 
 

 

Environment
 
 
 
“What has been a slow-motion train wreck for 20 years is accelerating, and the moment of reckoning is near,” the head of the Southern Nevada Water Authority told Congress.
 
 
Since 1980, the U.S. has sustained 323 weather and climate disasters that have resulted in over $2.1 trillion in damages.
 
KRON4 spoke with fire expert Dr. Jon Keeley, about why we’re seeing so many fires and what we can do to protect ourselves.
 
 
 
Topics:innovationweather-related riskregulation

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