Articles by Jim Sams

FEMA Urged to Adopt Parametric Insurance and Blockchain to Address Coverage Gap

Blockchain technology and parametric insurance should be included in the Federal Emergency Management Agency’s toolbox as it strives to close the nation’s flood insurance coverage gap, according to a draft report by an advisory committee that makes recommendations to the …

PG&E Cutting Power to 150,000 Customers in New Mass Blackout

PG&E Corp. is moving forward on cutting power to about 150,000 customers starting early Wednesday in the latest mass blackout designed to keep its power lines from igniting wildfires. The bankrupt utility is shutting off service to homes and businesses …

Native American Shield Returned to New Mexico From France

ALBUQUERQUE, N.M. — A ceremonial Native American shield has been welcomed back to New Mexico by tribal leaders, in the culmination of a yearslong international campaign to reclaim the sacred object that held a place in a cycle of ceremonies …

Powerful Typhoons Scar Japanese Non-Life Insurers’ Earnings

A string of powerful typhoons that struck Japan has left scars on the country’s non-life insurers, with industry giants likely forced to pay a combined $8 billion in insurance payments in the current fiscal year that ends in March. Japan’s …

NOAA Announces $30 Million to Bolster Coasts From Flooding, Rising Seas

NEW YORK — The U.S. government’s oceans and waterways agency will provide $30 million to improve coastal resilience, officials said, aiming to reduce the impacts of worsening storms, flooding and rising seas in nearly half of U.S. states. Grants through …

Business People: ClaimsXChange, Aon Global Risk, Core Group

New Nonprofit Organization Formed for Claims Pros Sydney Posner, formerly the chief relationship officer for Claims and Litigation Management, is forming her own nonprofit education and networking group for insurance claims professionals. Posner was appointed on Nov. 5 as executive …

Boeing Says It’s Fixing 737 NG Part NTSB Wants Redesigned

The U.S. National Transportation Safety Board recommended Tuesday that the Boeing Co. 737 NG be redesigned to prevent a repeat of a fatal accident last year in which an engine part broke off in flight, killing a passenger. More than …

Safety Board Meeting on Southwest Engine Failure that Caused Fatal Accident

WASHINGTON — The U.S. National Transportation Safety Board (NTSB) is meeting on Tuesday to determine the probable cause of the April 2018 engine failure of Southwest Airlines Co flight 1380 that killed a passenger who was partially sucked out the …

PG&E Is Dubious of Fire Victim’s Claim for a 500-Pound Emerald

PG&E Corp. says it has found suspicious monetary claims by victims of California’s wildfires, including one from a man who says a 500-pound (227-kilogram) emerald worth $280 million was destroyed at his home a year ago in the most destructive …

PG&E Warns 750,000 Californians More Blackouts May be Near

California utility giant PG&E Corp. said it may cut the lights to more than 750,000 people across Northern California as the National Weather Service posted “red flag” warnings for high winds across the region. The bankrupt power company said Tuesday …