Welcome to your weekly newsletter with the updates you need to succeed in property and casualty insurance.
As snowpack melts in California, can winter rains remedy the situation and stave off another year of drought and wildfire? Maybe not.
Business |
Insolvency Looms For InsurersThe Insurance Information Institute has found that US auto and homeowners’ insurance premiums rates did not keep up with the inflation rate in 2020 and 2021. |
Insurance Required for Gunowners?A new bill introduced by two CA senators would require gun owners to purchase liability insurance for the negligence or accidental use of their firearms. |
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Turkey Quake: $1B Insured LossesEconomic and insured losses from secondary perils from natural catastrophes are accelerating and surpassing the loss totals from primary perils. Read more at Insurance Journal |
Environment |
Snowpack Melts in CaliforniaAs the state gets drier, and as wildfires climb to ever-higher elevations, that precious snow is melting faster and earlier than in years past — even in the middle of winter. |
$480M Cleanup for Kansas Oil SpillA faulty weld at a bend in an oil pipeline contributed to a spill that dumped nearly 13,000 bathtubs’ worth of crude oil into a northeastern Kansas creek. |
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Cyclone Rips Across New ZealandSome 225,000 homes are without electricity, at least 2,500 people have been evacuated, and tens of thousands have had travel disrupted. |
Education |
Butterflies Attack Florida CitrusThe lime swallowtail butterfly — an invasive species that hails from Asia and which has damaged citrus trees throughout the Caribbean — has now reached Florida. |
Virginia Car Insurance RequirementsVirginia is one of the only states in the country that does not require drivers to have auto insurance, but that may soon be changing under new legislation. |
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Wildfire Preparation Bills in WASeveral bills have been introduced to bring in funding to help battle wildfires - Commissioner of Public Lands proposed “Cascading Impacts of Wildfire” legislation. Read more at NBC24 |