January 26, 2023

The Future: Geospatial Property Ratings

Decreased profits can stem from a lack of granular, accurate information about potential hazards and exposure to loss at each insured location.

Read more at PropertyCasualty360

Three Keys to Addressing Insurance's Wildfire Crisis

Wildfires have become significant contributors to insurance industry losses. As the frequency and severity of wildfire claims continue to climb, insurers need to rethink their game plan.

Read more at Carrier Management

Business

FTC: Noncompete Agreements Ban

The Federal Trade Commission proposed a new rule that could potentially prohibit the use of non-compete agreements.

Read more at Independent Agent

LA Legislators 'Skeptical'

Several legislators said they aren’t yet prepared to fund a homeowners insurance incentive program backed by Insurance Commissioner Jim Donelon.

Read more at Louisiana Illuminator

Mass Lay-Offs at Google

Alphabet CEO Sundar Pichai wrote, “I have some difficult news to share. We’ve decided to reduce our workforce by approximately 12,000.”

Read more at Firstpost

Environment

USDA's New Wildfire Strategy

Federal funding, which comes from the Bipartisan Infrastructure Law and the Inflation Reduction Act, is being invested in 11 especially fire-prone landscapes.

Read more at Aspen Public Radio

Alabama: The
Tornado State

2023 is off to a record start - the weather service's preliminary data show 28 confirmed tornadoes so far, making it the most tornadoes in January on record.

Read more at AL.com

Record Insured Damages

Damage from numerous severe weather events made 2022 the third worst year on record, with losses from severe weather adding up to $3.1 billion.

Read more at Blackburn News

Education

Texas Electricity Market Reform

The Public Utility Commission voted to make a substantial change to the state’s electricity market in a controversial effort to make the entire system more reliable.

Read more at Insurance Journal

Most Expensive
ZIP Codes

The more high-end the neighborhood, the less likely it may be to feature diverse inhabitants or affordable goods and services, including insurance.

Read more at PropertyCasualty360

States With the Worst Drivers

There are undoubtedly irresponsible and dangerous drivers in every corner of the US, but the data shows that some states have far better motorists.

Read more at PropertyCasualty360