Aon’s Survey Reveals Increasing Business Volatility and Emerging Global Risks
Aon’s ninth edition of its Global Risk Management Survey highlights a more volatile and uncertain business landscape, with cybersecurity and economic challenges at the forefront.
December 29, 2023
Catastrophe
Insurance Industry
Risk Management
Technology
Chesapeake Energy and Contractors Faulted in Fatal 2020 Texas Oil Well Fire
A federal safety board investigation finds Chesapeake Energy and its contractors failed to implement crucial well control measures in a 2020 Texas oil well fire that resulted in three fatalities.
December 29, 2023
Catastrophe
Legislation & Regulation
Liability
Risk Management
Oklahoma
Texas
Oregon Regulator to Probe PacifiCorp’s Liability Limit Request After Wildfires
Oregon’s utility regulator initiates an investigation into PacifiCorp’s request to limit future wildfire-related lawsuit liabilities, delaying the decision by up to nine months.
December 28, 2023
Catastrophe
Legislation & Regulation
Liability
Risk Management
California
Idaho
Oregon
Utah
Washington
Shifting Priorities for Affluent North Americans Post-Pandemic
Affluent Americans and Canadians are increasingly investing in entertainment, travel, and education, facing new risks as their spending habits evolve, reveals Chubb’s report.
December 27, 2023
Catastrophe
Liability
Property
Risk Management
Understanding the Hidden Risks in Climate Change Modeling for Insurers
Insurance industry’s current climate change models may underestimate physical risks, highlighting the need for comprehensive scenario analysis and adjustment for tail risks.
December 26, 2023
Catastrophe
Legislation & Regulation
Risk Management
Technology
Florida’s Home Insurance Market Sees Potential Stability with Increased Focus on Property Hardening
Exploring the evolving landscape of Florida’s home insurance market, highlighting the critical role of property hardening in mitigating hurricane damage.
December 22, 2023
Catastrophe
Legislation & Regulation
Property
Risk Management
Florida
El Nino’s Heavy Rains Pose Major Challenges for Septic Tank Owners
Exploring the impact of El Nino’s intense rainfall on septic systems and the importance of regular maintenance and insurance understanding.
December 20, 2023
Catastrophe
Education & Training
Property
Risk Management
Hawaii
Oregon
State Farm Faces Unprecedented Homeowners Loss Ratio Amid Severe Weather Challenges
State Farm’s homeowners loss ratio hits a 20-year high, driven by severe weather events, prompting significant rate hikes and premium growth.
December 20, 2023
Catastrophe
Property
Risk Management
Underwriting
2023: A Year of Record-Breaking Rapid Hurricane Intensification in Multiple Basins
In 2023, hurricanes Lee, Jova, and Otis set records for rapid intensification, reflecting an active global tropical season with significant impacts on insurance and risk management.
December 19, 2023
Catastrophe
Insurance Industry
Property
Risk Management
Hurricane Idalia Shifts Insurance Dynamics in the Southeast US
Hurricane Idalia’s devastation in Florida and beyond underscores the escalating challenges for insurers in a climate-affected world, demanding innovative adaptation.
December 18, 2023
Catastrophe
Property
Risk Management
Technology
Florida
Georgia
North Carolina
South Carolina
New Studies Highlight Hurricane Impact on Renters: Rising Rents, Evictions, and Housing Crisis
Recent research reveals the severe consequences of hurricanes on renters along the East and Gulf coasts, including increased rents, eviction risks, and the deepening affordable housing crisis.
December 15, 2023
Catastrophe
Legislation & Regulation
Property
Risk Management
Kentucky Residents File Lawsuit Against CSX Over Thanksgiving Train Derailment and Chemical Spill
A class action lawsuit targets CSX for alleged negligence in a train derailment that caused a hazardous sulfur spill in eastern Kentucky, raising health and environmental concerns.
December 15, 2023
Catastrophe
Legislation & Regulation
Liability
Property
Kentucky
U.S. Wildfire Frequency and Severity at 20-Year Low Despite Global Rise, Says Triple I Report
The Insurance Information Institute reports a surprising decline in U.S. wildfire frequency and severity, contrasting with global trends, as mitigation efforts show positive results.
December 14, 2023
Catastrophe
Insurance Industry
Legislation & Regulation
Risk Management
California
Texas
Embracing Adaptation and Resilience for a Sustainable Future
A new report highlights the insurance industry’s critical role in combating climate change, with a focus on adaptation, resilience, and a $71 billion revenue opportunity.
December 11, 2023
Catastrophe
Legislation & Regulation
Risk Management
Technology
Inaugural Innovation Summit Steers Climate Resilience from Ideation to Action
To foster better collaboration and transparency, the Catastrophe Resiliency Council proposes an Open Industry Exposure Database for climate risk research.
December 4, 2023
Catastrophe
Education & Training
Risk Management
Technology
Alabama
Pennsylvania
