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September 15, 2022

Headlines

 
 
 
Smoke Alarm
The Bolt Creek fire led to an evacuation order for one town and produced smoke and ash that drifted 40 miles away.
 
 
Heavy rainfall once again overwhelmed storm drains and caused mudslides in Southern California, with officials ordering some Inland Empire residents to evacuate.
 
 

 

Business
 
 
 
Uncertain times are challenging for reinsurers. Claims may jump, and investment losses may dent profitability and possibly capital. . However, uncertain times can also be good for reinsurers.
 
 
AM Best said it held the belief that the U.S. personal auto line would right the ship following 2021, but headwinds remain too strong and the agency revised its outlook.
 
Contractors have launched an appeal in a legal battle about part of a new Florida property-insurance law that restricted attorney fees in disputes about claims.
 
 
Former Florida Insurance Commissioner Kevin McCarty is criticizing current state regulators over their recent digs at the Demotech firm.
 
Florida homeowners will see a new surcharge on their insurance premiums to cover companies who’ve gone into receivership.
 
 

 

Education
 
 
 
While the days of cash flow underwriting are a distant memory for veteran insurance executives, the need for industry’s more recent “preoccupation” with underwriting profit is starting to subside.
 
 
Establishments that lost water service in troubled Jackson, Mississippi, this month are finding that their business interruption insurance policies won’t always help pay for lost revenue.
 
 
The sole supplier of water for the City of Henderson has filed for bankruptcy protection, a victim of a 23-year drought that created a problem too expensive to fix.
 
 
A fire erupted today in a pile of pallets adjacent to a warehouse on the boundary separating Riverside and Moreno Valley, quickly spreading to the exterior of the building, prompting a three-alarm emergency response.  
 
 

 

Environment
 
 
 
The flames marching through Snohomish County are in some hard-to-access areas but they've also burned right down to the shoulder of Hwy 2.
 
 
Crews have gained some control of the wildfire burning in Placer and El Dorado counties, but wind later this week could still be an issue.
 
Californians stepped up their water conservation in July, using 10.4% less than two years ago as the state struggles with a years-long drought.
 
 
The U.S. Forest Service is resuming its practice of intentionally lighting fires to clear brush and small trees from forested areas nationwide.
 
A wood products company said that it is investigating whether its machine caused a fire that swept through a NorCal town.
 
 
 
Topics:industry trendsweather-related riskwildfire

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