The Effects Of Natural Disasters On Insurers Are Coming Home To Roost
Record floods that submerged parts of the Midwest as a result of a deadly combination of melting snow and heavy rains have caused $3 billion in damages so far, and more flooding is in the forecast, according to news reports. This recent natural catastrophe is once again sending warning signals about the intensifying weather-related events that are likely to continue impacting the US in the years to come, including regions that typically havent seen wild weather in the past.
April 10, 2019
Catastrophe
Risk Management
Will Climate Change Impact Reinsurance Rates?
In 2018, natural catastrophes wreaked havoc around the world. Windstorms caused massive losses in the United States, Japan and the Philippines. Droughts hit the United States and Europe, and unusually large wildfires caused devastation in California.
April 3, 2019
Catastrophe
Risk Management
Earthquake, Magnitude 3.5, Wakes Up Orange County With Light Shaking
An earthquake of magnitude 3.5 produced light shaking from its epicenter in Orange County on Wednesday morning.
April 3, 2019
Catastrophe
California
Californians Sue DOI For Allowing Unlicensed, Out-Of-State Adjusters After Wildfires
Californians have filed a lawsuit against the state Department of Insurance for allegedly allowing unlicensed out-of-state insurance adjusters to offer their services after major wildfire events.
April 2, 2019
Catastrophe
Legislation & Regulation
Litigation
Property
Risk Management
California
Impact Of Climate Change To Make Insurance Prohibitively Expensive, Says Munich Re
The largest reinsurance company in the world has cautioned that most people wont afford coverage soon. For several years, insurance companies have been warning that the impact of climate change will be an expensive one.
March 29, 2019
Catastrophe
Property
Risk Management
U.S. Agency Error Exposes 2.3M Disaster Survivors To Fraud: Watchdog
The U.S. Federal Emergency Management Agency (FEMA) exposed 2.3 million disaster survivors to possible identity theft and fraud by improperly sharing sensitive personal information with an outside company, according to an internal government watchdog.
March 25, 2019
Catastrophe
Fraud
Litigation
Climate Changes Fingerprints Are On U.S. Midwest Floods: Scientists
Climate change played a hand in the deadly floods in the U.S. upper Midwest that have damaged crops and drowned livestock, scientists said on Thursday, while a Trump administration official said more homework was needed before making that link.
March 22, 2019
Catastrophe
Legislation & Regulation
Nearly Half Of Americans Dont Have Home Inventory List In Case Of Disaster Study
Nearly half of US residents have never made a home inventory list in case of a natural disaster, according to new data from Farmers Insurance.
March 21, 2019
Catastrophe
Property
Risk Management
Alabama
Alaska
Arizona
Arkansas
California
The Private Sector Is Returning To The Flood Insurance Game
The private sector is returning to the risky world of insuring homes against flood damage, offering hope that the paltry percentage of homeowners with flood insurance will rise out of the single digits.
March 18, 2019
Catastrophe
Legislation & Regulation
Property
QBE Pours Cash Into Technology In Battle With Climate Change
QBE is taking a stand. It is loudly and proudly talking about the dangers of climate change and what needs to be done to stop itincluding putting its own money on the line.
March 5, 2019
Catastrophe
Risk Management
Technology
PG&E Admits Its Equipment Likely Caused Californias Worst Fire
Pacific Gas & Electric Co. said Thursday that it was “probable” that its equipment caused the Camp fire that destroyed thousands of homes in Paradise, Calif., and killed 85 people in 2018.
February 28, 2019
Catastrophe
Liability
California
Managing A New Era Of Repairs: Restoration Trends To Watch In 2019
Historically, the insurance claims process for property damage starts with a claims professional assessing damage on-site and ends by giving a homeowner a check for fixing the damage. This old model places the responsibility on the property owner to research and vet qualified contractors to start the restoration process, a particularly heavy burden to bear in moments of crisis.
February 8, 2019
Catastrophe
Education & Training
Property
Risk Management
Technology
Natural Disasters In 2018 Cost The Nation $91 Billion In Damages
Natural disasters, fueled at least in part by climate change, cost the United States $91 billion in 2018, according to the National Oceanic and Atmospheric Administration.
February 7, 2019
Catastrophe
California
Florida
North Carolina
South Carolina
Judge Sees A Clear-Cut Pattern Of California Utility Starting Wildfires
A federal judge who has emerged as a vocal critic of PG&E Corp.s safety record, said the California utility giant has a “clear-cut pattern” of starting wildfires and needs “strong medicine” put in place before this years season begins.
January 31, 2019
Catastrophe
Excess & Surplus Lines
Liability
Litigation
California
Zurich: The World Is “Sleep-Walking Into Environmental Catastrophe”
Climate change is one of the most complex risks facing society today because of its impact on the wider economic and corporate landscape.
January 18, 2019
Catastrophe
Risk Management



