InsuranceEDGE | July 13, 2023 | BuildingMetrix

Written by WSRB | July 13, 2023

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

Green Mountain State

Deluges, overflowing rivers, at-capacity reservoirs, and water running through the streets of the states capitol - Vermont has seen months worth of rain in a matter of days. What happens next?

Vermont Flooding Continues

“This may not be over. With rain in the forecast – and nowhere for it to go – we could see waters rise again,” Vermont Gov. Phil Scott said Wednesday.

The Risk of Home Daycare

Even while providing adequate coverage with the proper liability endorsements, home day care facilities can land insurers in a world of legal problems.

Business

Farmers Cools on California

Farmers will limit new homeowners insurance policies in California, according to a statement issued by the carrier that follows similar decisions by other insurers.

Firms Use Google to Drive Litigation

National law firms are investing millions annually each to direct Google searches to websites that they control in an effort to find new clients to file lawsuits against insurers.

Florida in the Black?

Florida’s beleaguered insurance industry may have turned a corner in 2023, with net income in the black for the first time since 2016.

Environment

Dangers of Cliffside Living

There is risk of water caused landslides, whether it’s the unpredictable sea battering the shore and any properties in its way or relentless rains.

Evacuation Orders in Northern B.C.

Several northern B.C. regions saw new evacuation orders issued due to wildfires, with the number of fires rising quickly to more than 300 by late Sunday.

Intense Hurricane Season Ahead?

An above average Atlantic hurricane season is now expected for 2023, though there is a greater level of uncertainty than normal.

Education

Canada, Wildfire, & Home Insurance

Director of consumer and industry relations for the Insurance Bureau of Canada says it’s “highly unlikely” that insurers will pull out of extreme weather prone areas.

Cannabis Cookies Look Familiar

Six companies that make snacks with cannabis have been sent cease and desist letters because the packaging looks too much like foods that kids love.

Forever Chemicals Everywhere

Drinking water from nearly half of U.S. faucets likely contains “forever chemicals” that may cause cancer and other health problems.