By now, you’ve heard the phrase “flatten the curve” numerous times to describe slowing the growth of the COVID-19 outbreak. Flattening the curve is critical to avoid overwhelming our healthcare infrastructure (you’ve almost certainly seen stories about shortages of masks, …
While legislators in Washington D.C. and states try to fashion financial relief for businesses interrupted by the public health actions related to coronavirus, outside pressure is mounting on private property/casualty commercial insurers to do more than explain why insurance coverage …
At least 3.8 million U.S. homes lie in flood plains. Together, they may be overvalued by $34 billion. New research published today in a National Bureau of Economic Research working paper shows that markets fail to incorporate risks from flooding …
SACRAMENTO, Calif. — In a state burdened by billions of dollars in wildfire damage, California lawmakers are hoping for an advance loan before the next climate-fueled catastrophe hits. Lawmakers in the Democratic-dominated state Legislature return to work Monday for the …
California had long been a good bet for homeowners’ insurers, with most carriers having no problem recouping paid losses through premiums. But in 2017 and 2018, the state experienced six of the 10 most destructive wildfires in its history and …
Munich Re had teamed up with a unit of the National Insurance Crime Bureau to offer insurance carriers an analytics tool that can quickly assess property damage after natural catastrophes and speed up claims payments. Roman Buegler, head of Munich …
The House cleared a $19 billion disaster-aid plan for areas hit by hurricanes, Midwest floods and California wildfires on Monday after months of negotiations and a final delay of more than a week caused by Republican objections. The bill, passed …
The Senate passed a $19.1 billion disaster-aid plan Thursday for areas hit by hurricanes, Midwest floods and California wildfires after lawmakers resolved months of disagreement over funds for Puerto Rico. President Donald Trump said he supports the bill. The 85-8 …
Pacific Gas & Electric Corp. received approval Wednesday to establish a $105 million fund to help survivors of recent California wildfires started by the utility’s equipment. A federal judge overseeing PG&E’s bankruptcy case approved the utility’s wildfire assistance program to …
Lobbyists for the property and casualty insurance industry are trying to prevent a $125 million increase in Washington state premium taxes that would fund wildfire prevention and suppression. The tax would affect home, auto and business insurance in an action …