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August 25, 2022

Headlines

 
 
 
Smoke Alarm
In many ways, Swimply is emblematic of the next generation of on-demand platforms. While it has created opportunities for hosts, it has also created a new set of uncertainties, from logistical issues to thornier questions around liability.
 
 
China is suffering from its worst heatwave in six decades as temperatures in dozens of cities surpass 40 degrees Celsius, or 104 degrees Fahrenheit.
 
 

 

Business
 
 
 
Several insurance industry trade associations used the 30th anniversary of Hurricane Andrew to broadcast their conclusion that man-made threats are today the “root causes of most market instability.”
 
 
Insurance broker Willis Towers Watson PLC said capacity for cyber insurance and reinsurance stabilized in Great Britain in the second quarter of the year.
 
Munich Re for the second-straight year holds the top spot in AM Best’s annual ranking of the Top 50 Global Reinsurance groups in 2021.
 
 
A new study found that adopting building codes established in 2015 or later could help property owners avoid significant weather-related financial losses. 
 
Market watchers and participants have noticed an uptick in new legal entrants and public adjusters entering Louisiana as firms look to grab a slice of the claims pie.
 
 
Inflation and a superheated job market may be the nation’s prevailing economic concerns, but a big concern in cannabis today is a product glut.
 
The size of the rate escalation is unlikely to stand - state Insurance Commissioner Mike Causey has negotiated down other significant rate requests in the last two years.
 
 

 

Education
 
 
 
“We could find everything from a missing jet ski to more bodies.”
 
 
U.S. traffic deaths jumped about 7 percent in the first three months of 2022 to 9,560, the highest number of people killed on American roads in a quarterly period since 2002.
 
The project took three years of environmental studies and planning, and then six weeks to mitigate 23 acres along the boundary with the neighborhood. 
 
 
Hurricane Andrew struck South Miami-Dade on Aug. 24, 1992. This is the original account from the front page of the Miami Herald.
 
It was 30 years ago today that Hurricane Andrew, one of the strongest recorded, gouged its way across south Florida,
 
 
“I remember the day like it was yesterday,” Clark told Insurance Journal. “Our clients couldn’t believe it."
 
Regulators are investigating a massive spill of oilfield wastewater from a broken pipeline in the northwest part of the state.
 
 

 

Environment
 
 
 
The event has affected well over 100 million people, and further disrupted global supply chains.
 
 
A look into some of the extreme weather events around the U.S. in 2022, from flooding in eastern Kentucky to the Colorado river drought crisis.
 
The destruction in Eastern Kentucky is a warning for other communities around the US that once-unthinkable floods are becoming more common.
 
 
Some 64% of the EU is under a drought warning or alert, according to the European Drought Observatory. 
 
Many parts of North Texas saw historic rainfall on Monday, leading multiple counties to issue flash flood warnings.
 
 
Climate experts warn temporary increases in water levels will not mitigate a crisis that has been years in the making.
 
“I mean what else could possibly happen?” asked the mayor of Las Vegas, New Mexico, not wanting to tempt fate.
 
 
 
 
Topics:industry trendsclimateliability

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