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Jan 26
Amazon expands into drug sector

​Amazon will push further into healthcare with a $5 monthly unlimited delivery pass on common generic prescription drugs, reports CNN (1/24/23, Meyersohn). The service will have limited impact on the overall costs of drugs, most of which is driven by high-cost formulations, observers said.​

Jan 26
Extreme weather reshapes industry

​Changes in weather patterns—and more extreme weather events—is forcing the global industry to rethink risk-management strategies, reports Bloomberg (1/25/23, Rathi).​

Jan 26
California insurers squeezed as driving worsens

Major auto insurers are pulling back from the California market as a spike in accidents makes it too expensive to do business there, reports CBS News (1/20/23). A report finds that auto insurance customers are shopping around and switching carriers more often, reports the Insurance Journal (1/24/23, Hemenway).

Jan 26
Twisters spin across state

​Multiple tornadoes that spun across parts of Louisiana this week included a EF-1 with 90 mph winds that tore up homes in Ventress, reports the New Orleans Times-Picayune (1/25/23, Schleifstein).​

Jan 26
New entergy fee to fund storm repairs

​The Public Service Commission on a 3-2 vote approved an additional fee on Entergy customers of $5.50 per month to pay for storm repairs, reports The Advocate (1/20/23). Baton Rouge has eight months to fix its storm water system or federal officials will step in, reports The Advocate (1/24/23, Cobler).​

Jan 26
Law firm accused of illegal client recruiting

​An attorney for a Louisiana insurance company has accused a law firm of illegally partnering with storm-repair contractors to gain clients, reports Claims Journal (1/25/23, Sams). A Mississippi River diversion project to help Maurepas Swamp also will help the state fund a levee project, reports the New Orleans Times-Picayune (1/24/23, Schleifstein).​

Jan 26
Session focus is market crisis

​A 7-day special session will address the state's homeowners insurance crisis, reports The Advocate (1/23/23, Sentell). Recruiting more insurers to move policyholders out of the state's quasi-public insurer of last resort will be a key aim, reports WWNO (1/25/23, Braun). Insurance Commissioner Jim Donelon asserts that an innovative recruiting strategy worked after a post-Katrina crisis in a letter to The Advocate (1/23/23). Some lawmakers appear skeptical about funding a proposed $45 million incentive fund, reports Louisiana Illuminator (1/19/23, O'Donoghue). More insurance-focused legislation is likely during the regular spring session, reports Louisiana Illuminator (1/23/23, LaRose).​

Jan 19
Crashes cost each American $1,035

​U.S. vehicle crashes in 2019 cost a combined $340 billion in damage, the equivalent of $1,035 for each of the nation's 328 million people, according to a new federal analysis, reports The Street (1/15/23, Olinga).​

Jan 19
Cyber is top worry for risk managers

​The danger of cyberattacks was the No. 1 worry cited by risk managers for 2023, reports Business Insurance (1/17/23, Lerner). Business interruption was the next highest corporate worry for the new year.​

Jan 19
Califonia storm tally begins

​Damaged roads and thousands of uninhabitable homes are among the challenges facing much of California after a streak of deadly storms, reports the Associated Press (1/18/23, Antczak). Historic flooding across most of the state underscores the need for a robust private flood-insurance market, reports IBA magazine (1/18/23, Smith).​

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No, this isn't actually my picture. I just haven't gotten around to updating this section. It's good to know that someone is reading every last word though. Thanks!