losses News

Report: $2.1B Loss if Noneconomic Damage Caps Removed in Colorado

A report from the Colorado Chamber of Commerce and the American Property Casualty Insurance Association estimates a proposal to remove the noneconomic damage caps in Colorado would result in a $2.1 billion annual loss in state GDP and 15,500 jobs. …

Property Restoration Industry: A Culture in Need of Repair?

Jatiek Smith, a Bloods gang member convicted on extortion and racketeering charges in New York, blamed ruthless competition and a culture of violence in the fire restoration industry for the accusations made against him by federal prosecutors. Smith was a …

Severe Weather Spawns Tornado, Damage and One Death in South, Midwest

Thousands of homes and businesses were without power this week as severe weather roared through several states, causing at least one death and spawning possible tornadoes. Parts of Ohio, Pennsylvania, Kentucky, Mississippi, Alabama, Tennessee, West Virginia, Virginia and Georgia were …

Baltimore Shipping Set to Resume by End of April With Full Capacity by End of May

The U.S. Army Corps of Engineers said Thursday it expects to open a new channel to the Port of Baltimore by the end of April, freeing up commercial shipping blocked by a collapsed bridge, and then restore port access to …

Another Report Forecasts 2024 Atlantic Basin Hurricane Season to Be ‘Extremely Active’

A 2024 Atlantic hurricane season forecast calls for 23 named storms, 11 hurricanes and five major hurricanes, This is the 41st year Colorado State University’s tropical meteorology project has made forecasts of the upcoming season’s Atlantic basin hurricane activity. Accuweather …

Baltimore Ship Accident Has East Coast Ports Scrambling to Absorb Cargo

Ports along the US East Coast are modifying their operations to absorb cargo diverted from Baltimore harbor, where salvage specialists are starting the daunting task of clearing debris from the destroyed Francis Scott Key Bridge. The Port of Virginia, with …

US Home Insurance Premiums May Hit a Record This Year, Report Warns

US home insurance rates are expected to reach a record high this year, with the biggest increases occurring in states prone to severe weather events, according to a new analysis. The average premium for homeowners insurance in the US is …

More Than Half of Homeowners Fear Climate Change, Most Worry About Rising Home Insurance Costs

Homeowners are increasingly worried about hazards and rising insurance costs as temperatures rise in the U.S. A survey of nearly 2,000 U.S consumers shows 51% of homeowners are worried climate change-related hazards will affect their homes, while others polled worry …

Six Presumed Dead After Bridge Collapse, as Port Disruptions Hit Cars to Coal

The 1.6 mile-long bridge collapsed in a matter of seconds. The catastrophic consequences are set to stretch out for weeks. As much as 2.5 million tons of coal, hundreds of cars made by Ford Motor Co., and General Motors Co., …

Clorox Audit Revealed Cybersecurity Flaws at Its Plants in 2020

A few years before a 2023 cyberattack disrupted manufacturing at one of the largest US producers of disinfectants ahead of flu season, an audit warned of systemic cybersecurity flaws within the company’s production systems. Among the shortcomings highlighted by the …