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April 6, 2023

Welcome to your weekly newsletter with the updates you need to succeed in property and casualty insurance.

Unlucky Geography

Does it sometimes feel like the United States is more susceptible to extreme weather than other parts of the world? There's a reason for that.


Why the US Leads the World in Weather Catastrophes

Two oceans, the Gulf of Mexico, the Rocky Mountains, jutting peninsulas like Florida, clashing storm fronts, and the jet stream combine to naturally brew the nastiest weather.

Read more at AP News


WA To Burn Thousands of Acres of Forest

The state Department of Natural Resources is planning to torch more than 2,100 acres this spring in an aim to prevent more severe wildfires as things heat up this summer.

Read more at The Seattle Times



Near $27B Underwriting Loss in 2022

Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier.

Read more at Insurance Journal

FL Regulators Reviewing Rate Hikes

Three Florida insurance carriers, one large and two small, are seeking approval for major rate increases, with one condominium policy increase as high as 103%.

Read more at Insurance Journal


Hard Commercial Property Market

Today’s hard U.S. commercial property insurance market — one that is the longest and toughest seen by industry veterans  — is likely here to stay for a while.

Read more at Insurance Journal



Insurers Embrace Evolutionary Ideas

The magnitude of the climate change catastrophe is unmatched. Insurers must continue their efforts to focus on addressing the climate crisis with new solutions.

Read more at Risk and Insurance

Maine Sues Over Contamination

The AG is suing manufacturers of so-called forever chemicals that have contaminated farms and wells, information that has been concealed from the public.

Read more at Insurance Journal


A Dry Southwest Brings Wildfire Risk

Officials in New Mexico and Arizona warn that dry, windy conditions are increasing wildfire risks and prompting red flag warnings.

Read more at Las Vegas Sun



Canada's First Wildfire Risk Map

The comprehensive wildfire risk map provides yearly and 30-year aggregate probabilities of wildfire ignition and spreading for any location in the country.

Read more at Insurance Business Mag

Preparing for Storm Season

The problem arises when post-catastrophe analyses are reviewed, adjusted, and documented, only to be tucked away without any changes being implemented.

Read more at Insurance Thought Leadership


Top Causes of Distracted Driving

While technology continues to be the top cause of distracted driving, other causes include drowsiness, heightened emotions, and work-related stress.

Read more at Insurance Business Mag

Topics:weather-related risk

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