Welcome to your weekly newsletter with the updates you need to succeed in property and casualty insurance.
The wildfires on Maui have left parts of the island reduced to cinders. In the midst of the tragedy, hundreds are still missing and the death toll continues to climb.
Maui Fire Is Deadliest in US in 105 YearsWith the death toll already at 106, a mobile morgue unit with additional coroners arrived in Hawaii to help with the grim task of sorting through remains. |
Business |
Hagerty Announces Q2 ResultsThe lifestyle brand and leading specialty insurance provider focused on the global automotive enthusiast market has announced its financial results for Q2 2023. |
"Most Disrupted Personal Lines"Kemper’s actions, including exiting the preferred home and auto market, come amid “the most disrupted personal lines environment” it has ever experienced. |
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QBE Disappointed Despite Surge“This has been a disappointing half for me in many regards, but I do think we’re making progress on our key initiatives and have good momentum in the business.” Read more at Insurance Business Mag |
Environment |
$3 Billion Settlement Funds EcologyNearly $3 billion in settlement money from the BP Deepwater Horizon disaster is now funding a massive ecosystem restoration in southeastern Louisiana. |
NOAA: Above Average SeasonRecord hot ocean temperatures and a tardy El Nino are doubling the chances of an intense Atlantic hurricane season this summer and fall. Read more at WFTV |
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Severe Thunderstorm LossesA series of widespread thunderstorms have caused significant insured losses in US, accounting for 68% of global insured natural catastrophe losses in H1 of 2023. Read more at Insurance Business Mag |
Education |
CAL FIRE Mid-Air CollisionA firefighting helicopter crashed in Cabazon after a midair collision with another helicopter fighting the same fire, killing all three crew members aboard, |
How Tornado Scale is DeterminedThe Enhanced Fujita Scale (EF Scale) has been used since 2007; the NWS is the only federal agency with the authority to provide an official rating of a tornado. |
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Inflation, Cat Lead LossesKey macroeconomic trends impacting the industry results include inflation, rising interest rates and overall P&C underlying growth. |