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November 3, 2022

Headlines

 
 
 
Smoke Alarm
The third in a series of five polar-orbiting satellites developed by NASA and the National Oceanic and Atmospheric Administration (NOAA) to study Earth's weather and environment launched on November 1st.
 
 
As the United States' southwest faces the worst drought in more than a millennium, a city built on the banks of a dry riverbed may have answers for how to glean water from the desert.
 
 

 

Business
 
 
 
One of the most interesting things about the pandemic, at least from an employment perspective, is that productivity didn't suffer as a result of remote work.
 
 
U.S. property/casualty insurers' investment allocations during this period have shifted to more riskier assets such as lower-rated and private placement bonds.
 
 
Commercial insurance pricing will likely rise further at year-end renewals, senior executives at AIG said. 
 
 
According to the Treasury Department, payments were most commonly in response to breaches originating with Russian criminal groups. 
 
 
S&P Global Ratings revised its view on the U.S. property/casualty sector to negative, identifying lower capitalization as the driver of the move. 
 
A federal judge has ruled that a lawsuit accusing GEICO of overcharging over 2M car insurance policyholders early in the pandemic can proceed.
 
 
Customers with traditional homeowners policies will see an average 6.4% rate increase when they renew their policies.
 
Florida is in the midst of a swirling storm with a property insurance market that has been described as in free fall. 
 
 

 

Education
 
 
 
"It seems very clear now that the era of rushed growth for growth's sake at the expense of profitability is coming to a close.”
 
 
A deadly superstorm that ravaged the Northeast a decade ago continues to make its presence known in how risk is managed and insurance is underwritten.
 
Data from the association has also shown that the country's leading commercial auto insurance providers wrote almost $45.8 billion in premiums in 2020.
 
 
The enormous amount of uninsured loss from Hurricane Ian will lead to a "veritable swamp" of trial lawyers waiting to sue the insurance industry.
 
Studies have shown that high levels of PFAS can lead to increased risk of cancer, changes in liver enzymes, and decreased vaccine response.
 
 
Tapping into natural defenses, even modestly, is essential to managing climate risks now and in the future.
 
The publicly traded company (UVE on NYSE) said in a statement that the losses are largely the result of Hurricane Ian.
 
 
The ShakeAlert system is finally a reality for over 50 million West Coast residents, with more than 903 buried sensors in CA that can alert users who are at risk.
 
Social inflation, sexual abuse, and molestation are evolving risks for schools, colleges and universities, said United Educators President and CEO Janice Abraham.
 
 

 

Environment
 
 
 
A wildfire that destroyed nearly 1,100 homes and businesses in suburban Denver last winter caused more than $2 billion in losses, making it by far the costliest in Colorado history.
 
 
A fire that destroyed much of a historic country club in Bloomfield Hills, Michigan, may have been started by construction work involving a propane torch.
 
The Federal Emergency Management Agency is reminding flood insurance policyholders that they have an extra three months to renew their expiring policies.
 
 
 
Topics:industry trendsearthquakewildfire

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