A coalition that includes global insurers like Zurich Insurance Group and one of the world's largest public pension funds has agreed to spend trillions to slow global warming, reports Bloomberg (9/20/22, Marsh).
J.D. Powers says rising automobile premiums are making it tougher to offer auto and homeowners coverage “bundles," reports the Insurance Journal (9/21/22, Hemenway). The National Transportation Safety Board wants technology in new cars to prevent motorists from driving drunk, reports the Associated Press (9/20/22, Krisher). The suggestion comes as U.S. traffic deaths hit a 16-year high in the first half of 2022, according to Reuters (9/19/22, Shephardson).
Hurricane Fiona stranded people across Puerto Rico after smashing roads and bridges, with authorities still struggling to reach people four days after it hit the U.S. territory, reports CBS News (9/22/22). Fiona has grown into the biggest Atlantic hurricane of the year and will threaten Bermuda and Canada in coming days, reports Bloomberg (9/21/22, Sullivan).
A “monumental" sediment-diversion project to rebuild lost Louisiana coastline appears close to final state and U.S. approval, reports the New Orleans Times-Picayune (9/21/22, Schleifstein). The Mid-Barataria project will mimic the natural land-building process interrupted by construction of Mississippi River levees, reports the Times-Picayune (9/19/21, Schleifstein).
Baton Rouge officials agreed to combine the parish and city stormwater networks into a single utility as they move toward developing a fee to support drainage infrastructure, reports The Advocate (9/14/21, Cobler). In Tangipahoa Parish, families and businesses are closer to about $100 million in reimbursement for flood damage caused by 1-12 construction nearly 40 years ago, reports the Insurance Journal (9/19/22, South Central News).
State lawmakers approved an incentive program to bring more insurers to Louisiana, and Insurance Commissioner Jim Donelon proposed initial funding with $20 million in excess funds from his agency, reports IBA magazine (9/19/21, Adriano). New Orleans residents express frustration over the cost and availability of homeowners coverage, reports WWLTV (9/19/22, Tabone). Hurricane watchers say a tropical disturbance forming in the Caribbean is worth watching, reports The Advocate (9/21/22, Wells).
Lake Charles' continuing struggle to rebuild since Hurricane Laura highlights shortcomings in the approach to long-term disaster aid, reports The Advocate (9/18/22, Smith). Jefferson Parish has collected $45 million in federal help since Ida hit a year ago and waits for millions more, reports the New Orleans Times-Picayune (9/20/22, Cobler). Meanwhile,
The National Highway Traffic Safety Administration has published guidance on strategies to prevent vehicle hacking as high-tech cars become more vulnerable to attacks, reports NextGov (9/8/22, Kelley).
insurers face a new, higher bar when it comes to proving that a claimant has overstated
storm damage, reports the Insurance Journal (9/14/22, Rabb).
Florida is looking for a new rating agency after Ohio-based Demotech threatened
to downgrade 17 of its companies this summer, reports Florida Politics (9/10/22, Rhorer).
Global reinsurance firms will push for hefty rate jumps for year-end renewals as they cite inflation and growing claims in key markets, reports Business Insurance (9/12/22, Souter). The pricing power of reinsurers remains high despite market pressures, reports Carrier Management (9/13/22, Mazzuoli).
|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!