Welcome to your weekly newsletter with the updates you need to succeed in property and casualty insurance.
A Solemn Reminder
The terrible tragedy in southern Turkey and northwestern Syria, a massive magnitude 7.8 quake, reminds us that earthquakes can strike anytime with devastating consequences.
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Long-Tail Liability and Vape
Old buildings are preserved as landmarks of architectural beauty and cultural importance; however, in addition to providing a tangible link to bygone eras, they can bring along exceptional costs for insurers.
Read more at BuildingMetrix
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Live Updates: The Earthquake in Turkey, Syria
The death toll from the devastating earthquake in Turkey and Syria rose as rescuers faced shortages of trucks, fuel, and time. President Erdogan visited the area near the epicenter.
Read more at NYT
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InsurTech Funding Falls
At $1.01 billion, global InsurTech investment fell in the fourth quarter of 2022 to its lowest quarterly level since the first quarter of 2020.
Read more at Carrier Management |
Allstate’s Grand Plan
Following a year of turbulence in its auto insurance business, Allstate outlined what CEO Tom Wilson called the company’s number one priority: improve margins.
Read more at Insurance Journal
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Rising Costs of Secondary Perils
Economic and insured losses from secondary perils from natural catastrophes are accelerating and surpassing the loss totals from primary perils.
Read more at Insurance Journal |
Wildfire Emergency Act
U.S. Senators from Oregon, California, and Montana have introduced a bipartisan bill to reduce the risk of catastrophic wildfires in the West.
Read more at The Chronicle
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Slow Power Repairs Anger Austin
Nearly 20,000 customers still had no electricity on Monday, nearly a week after a deadly ice storm crippled the Texas capital and brought down power lines.
Read more at Yahoo! News
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Millions of Dead Trees in California
Drought and warm temperatures decimated 36.3 million California trees in 2022, according to a new report from the U.S. Forest Service.
Read more at KTLA |
Turkish Port Ablaze Following Quake
Hundreds of shipping containers were on fire at Turkey’s Iskenderun Port on Tuesday, shutting down operations and forcing freight liners to divert vessels to other ports.
Read more at Insurance Journal
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Federal Gun Crime Report
The most expansive report in 20 years shows a shrinking turnaround between the time a gun was purchased and when it was recovered from a crime scene.
Read more at Carrier Management
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The Cost of Auto Insurance is Up
Nationally, the average for full coverage — generally defined as liability, collision, and comprehensive — is $2,014 in 2023, up about 2.6% from 2022.
Read more at CNBC |
