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Risk Management Strategies Crucial for PFAS-Related Litigation

Risk Management Strategies Crucial for PFAS-Related Litigation

With the potential for boundless litigation involving PFAS chemicals, companies must prioritize risk management strategies to identify, assess, and mitigate exposure before costly legal battles arise.
August 15, 2024 Catastrophe Litigation Property Risk Management New Jersey

Ernesto Becomes Hurricane After Devastating Caribbean, Power Outages Widespread

Ernesto Becomes Hurricane After Devastating Caribbean, Power Outages Widespread

Hurricane Ernesto intensifies after battering the northeast Caribbean, leaving Puerto Rico and the U.S. Virgin Islands with widespread power outages, severe flooding, and disrupted services as it heads towards Bermuda.
August 14, 2024 Catastrophe Legislation & Regulation Property Risk Management

Majority of Hurricane Debby Damage Occurred Outside FEMA Flood Zones, Highlights Coverage Gaps

Majority of Hurricane Debby Damage Occurred Outside FEMA Flood Zones, Highlights Coverage Gaps

Hurricane Debby caused $12.3 billion in damage, with 78% of affected properties located outside FEMA-designated flood zones. The event underscores the need for updated flood risk assessments and broader insurance coverage.
August 14, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida Georgia Maryland North Carolina Pennsylvania

Second Highest Number of Billion-Dollar Disasters by July 2024 in U.S. History: NOAA

Second Highest Number of Billion-Dollar Disasters by July 2024 in U.S. History: NOAA

By the end of July 2024, the United States witnessed 19 weather and climate disasters exceeding $1 billion each, making it the second-highest year-to-date count, with extreme heat, wildfires, and Hurricane Beryl playing significant roles.
August 13, 2024 Catastrophe Insurance Industry Property Risk Management California Illinois New Hampshire North Carolina West Virginia

Wildfire Risk Intensifies in 2024: Over 2.6 Million Homes at High Risk in the Western U.S.

Wildfire Risk Intensifies in 2024: Over 2.6 Million Homes at High Risk in the Western U.S.

As of mid-2024, wildfires have ravaged millions of acres in the U.S., with over 2.6 million homes at moderate or greater risk, emphasizing the crucial role of insurance and risk management in protecting communities.
August 13, 2024 Catastrophe Legislation & Regulation Property Risk Management Arizona California Colorado Hawaii Idaho

Concert Cancellations in Austria Lead to Multi-Million Dollar Insurance Claims for Taylor Swift’s Eras Tour

Concert Cancellations in Austria Lead to Multi-Million Dollar Insurance Claims for Taylor Swift’s Eras Tour

Taylor Swift's cancelled Vienna concerts, due to a foiled attack, could result in tens of millions in insurance claims, though the financial impact is mitigated by event rescheduling and coverage from multiple insurers.
August 12, 2024 Catastrophe Insurance Industry Litigation Risk Management

Microsoft Outage Exposes Global Cyber Vulnerabilities and Economic Risks

Microsoft Outage Exposes Global Cyber Vulnerabilities and Economic Risks

The recent Microsoft-CrowdStrike outage disrupted businesses worldwide, highlighting the importance of robust cybersecurity measures and proactive risk management strategies to prevent widespread economic and operational setbacks.
August 12, 2024 Catastrophe Insurance Industry Risk Management Technology

California Wildfire Survivors Protected from Insurance Cancellations by New Moratorium

California Wildfire Survivors Protected from Insurance Cancellations by New Moratorium

A new one-year moratorium issued by California's Insurance Commissioner prevents insurance cancellations and non-renewals for over 185,000 homeowners impacted by recent wildfires in Northern and Central California, ensuring coverage as they recover.
August 12, 2024 Catastrophe Legislation & Regulation Property Risk Management California

Florida Extends Contract Rescission Period for Public Adjusters After Hurricane Debby

Florida Extends Contract Rescission Period for Public Adjusters After Hurricane Debby

Following Hurricane Debby, Florida's CFO issued an emergency order extending the period for property owners to cancel contracts with public adjusters from 10 to 30 days and implementing new regulations for adjuster conduct.
August 8, 2024 Catastrophe Fraud Legislation & Regulation Property Florida

Grid Resilience and Innovation Partnerships Program Boosts US Power Infrastructure

Grid Resilience and Innovation Partnerships Program Boosts US Power Infrastructure

The Grid Resilience and Innovation Partnerships (GRIP) Program, part of the Bipartisan Infrastructure Law, aims to enhance the resilience and reliability of the U.S. power grid against extreme weather and climate change.
August 7, 2024 Catastrophe Legislation & Regulation Property Technology

Severe Thunderstorms Drive Global Insured Losses to $60 Billion in H1 2024

Severe Thunderstorms Drive Global Insured Losses to $60 Billion in H1 2024

Global insured losses from natural catastrophes have surged to $60 billion in the first half of 2024, with severe thunderstorms in the US contributing significantly.
August 7, 2024 Catastrophe Insurance Industry Property Risk Management

People Flock to Texas and Florida Despite Fire and Flood Risks

People Flock to Texas and Florida Despite Fire and Flood Risks

People are moving to fire- and flood-prone areas in the US, driven by migration to Texas and Florida. These states attract newcomers with low taxes and affordable housing, despite growing climate risks.
August 7, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida Texas

Norwegian Salmon Farms Face Record Fish Mortality Rates Amid Harsh Conditions

Norwegian Salmon Farms Face Record Fish Mortality Rates Amid Harsh Conditions

Norwegian salmon farms are experiencing unprecedented fish mortality rates this year due to an unusually harsh winter and the El Nino climate phenomenon.
August 7, 2024 Catastrophe Insurance Industry Property Risk Management

Hurricane Debby Hits Florida’s Big Bend, Promises Severe Southeast Flooding

Hurricane Debby Hits Florida’s Big Bend, Promises Severe Southeast Flooding

Hurricane Debby has made landfall in Florida's Big Bend with maximum sustained winds of 80 mph, leading to potential historic flooding from northern Florida to the Carolinas, along with gusty winds, storm surge, and tornadoes.
August 5, 2024 Catastrophe Legislation & Regulation Property Risk Management Florida Georgia North Carolina South Carolina Virginia

Wood Pellet Plants in Southern U.S. Towns Linked to Health Issues and Pollution

Wood Pellet Plants in Southern U.S. Towns Linked to Health Issues and Pollution

Residents in predominantly Black towns like Gloster, Mississippi, report worsening health and environmental conditions since the expansion of wood pellet plants for renewable energy.
August 1, 2024 Catastrophe Insurance Industry Legislation & Regulation Alabama Arkansas California Louisiana Mississippi
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