May 18, 2023

Volcano Risk in Washington State

As of 2023, May has officially been designated as Washington Volcano Preparedness Month. For many Washingtonians, these slumbering giants seem harmless, but it’s important to learn about the risks they pose and how to prepare for the devastation they can cause.

Read more at WSRB

Turkey, Building Codes, and the Importance of Regulation

The recent earthquakes in Turkey and Syria remind us of the importance of earthquake preparedness and effective building codes. 

Read more at WSRB

Business

Wells Fargo to Pay $1 Billion

The company agreed to settle a shareholder lawsuit that accused it of making misleading statements about its compliance with federal consent orders.

Read more at Insurance Journal

WA Commissioner Fines Airbnb

Mike Kreidler fined Airbnb $20,000 for acting as an unauthorized insurer in the state and ordered the company to obtain a surplus lines insurance policy.

Read more at Insurance Journal

Auto Claim Severity Up 35%

Claim severity for both bodily injury and property damage increased by 35% since 2019, while collision claim severity has jumped 40%.

Environment

B.C. Residents Flee Wildfire

There were approximately 5,100 people across B.C. under an evacuation order as of Monday afternoon, and about 33,000 under an alert.

Read more at The Globe and Mail

MN Banning Forever Chemicals?

A House-Senate conference committee that is negotiating the details of a broad environment and natural resources bill agreed to the PFAS language that will be included.

Billion Dollar Weather Event in KY

According to NOAA, the March 3 windstorm is officially the fourth billion-dollar disaster in the Commonwealth in the last two years.

Education

Farmers Abandon Wheat

According to the USDA, producers are expected to harvest about 67% of their planted acres, the lowest harvest ratio since 1917.

Read more at Insurance Journal

Legal Shield for TN Gun Dealers

Tennessee Gov. Bill Lee has signed off on additional protections for gun and ammunition dealers, manufacturers and sellers against lawsuits.

Read more at Insurance Journal

Firewise Discount Mandates

All CA insurance companies will be mandated to offer a discount to insured members who create defensible space and adhere to guidelines outlined by Firewise USA.

Read more at Sierra Sun