catastrophic damage News

As Ida Leaves Gulf, Analysts Foresee Modest Economic Damage

WASHINGTON (AP) — With more than 1 million customers in Louisiana and Mississippi having lost power, Hurricane Ida is sure to take a toll on the energy, chemical and shipping industries that have major hubs along the Gulf Coast. But …

Viewpoint: Adopt a ‘Need-to-Know’ Approach to Avoid Nuclear Verdicts

The last claim settlement I wrote was considered a bargain at $5 million, half of the $10 million amount that would be deemed a “nuclear verdict.” According to VerdictSearch, nuclear verdicts have increased 300% since 2019. Adjusters can take action …

Germany Defends Preparation for Floods, Considers Lessons

BERLIN (AP) — German officials are defending their preparations for flooding in the face of the raging torrents that caught many people by surprise and left over 190 people dead in Western Europe, but they concede that they will need …

Report on Electric Storage Explosion Highlights Danger of a Growing Technology

An investigation into the cause of an explosion at an Arizona energy storage facility that injured four firefighters confirms what engineers had feared: Packing lithium-ion batteries tightly together can spark a chain reaction that can cause catastrophic damage and endanger …

Feds: Florida Officials Bilked FEMA Out of Hurricane Money

TALLAHASSEE, Fla. — Two former officials of a Florida city are charged with conspiring with two businesses to bilk the federal government out of $5 million in Hurricane Michael cleanup money, the U.S. attorney’s office announced Tuesday. U.S. Attorney Lawrence …

Florida Timber Farmers Face Tough Choices Year After Michael

BLOUNTSTOWN, Fla. — The sunsets are a sight to behold in Joe Leonard’s neck of the woods these days. A year ago, lush stands of towering pines obscured the horizon, he said as he drove his pickup along a dusty …