INSURANCE NEWS
Shipping Containers Are Regularly Lost at Sea. What Happens When They Burst Open?
Russ Lewis has picked up some strange things along the coast of Long Beach Peninsula in Washington state over the years: Hot Wheels bicycle helmets with feather tufts, life-size plastic turkey decoys made for hunters, colorful squirt guns. And Crocs …
Antarctica Had Less Winter Sea Ice in 2024 Than Any Year Except 2023
Antarctic sea ice at its annual peak this year covered the second-lowest area on record. It was just shy of last year’s record low, continuing what scientists fear is a trend caused by climate change. The ice covered 17.16 million …
Taiwan Reopens, Clearing Up Damage After Typhoon Krathon
Southern Taiwan worked on Friday to clear up damage from flooding and high winds after Typhoon Krathon slammed into a major port city, while most of the rest of the island resumed work and financial markets re-opened. Krathon, now downgraded …
US Dockworkers Suspend Three-Day Strike After Contract Extension
US dockworkers agreed to end a three-day strike that had paralyzed trade on the US East and Gulf coasts and threatened to become a factor in the presidential election. The International Longshoremen’s Association and the US Maritime Association extended their …
Softbank Says Credit Suisse to Blame For Fund’s $440 Million Greensill Los
Softbank Group Corp., facing a $440 million lawsuit from Credit Suisse, said the bank was to blame for some of the investor losses tied to the collapse of Greensill Capital. In the latest stage of the long-running dispute, Softbank said …
FEMA Doesn’t Have Enough Funding to Last Through Hurricane Season, Mayorkas Warns
The Federal Emergency Management Agency can meet immediate needs but does not have enough funding to make it through the hurricane season, Homeland Security Secretary Alejandro Mayorkas told reporters Wednesday. The agency is being stretched as it works with states …
The Chief Artificial Intelligence Officer: Leading AI Innovation and Risk Management
Generative artificial intelligence (AI) has emerged as a new technology with the potential to completely reshape business practices and create new avenues for innovation. It will significantly impact virtually every industry sector. Organizations have rushed to embrace it, as evidenced …
AccuWeather Increases Estimate of Helene’s Economic Loss to $225B-$250B
AccuWeather has increased its estimate of the total damage and economic loss from Hurricane Helene in the U.S. to between $225 billion and $250 billion. The range makes Hurricane Helene one of the most damaging and impactful storms in U.S. …
Nowhere in America Is Safe From Climate-Fueled Storms and Fires
Forecasters had warned for days that Hurricane Helene was likely to cause widespread devastation. But when the powerful storm struck Florida and barreled through the eastern US last week, killing more than 180 people and taking whole communities offline, it …
WCIRB Summarizes 2024 California Workers’ Comp Legislation
The Workers’ Compensation Insurance Rating Bureau is giving its take on bills passed and passed on by California Legislature this year. The Legislature recessed for the year and Gov. Gavin Newsom had until Sept. 30 to sign or veto any …
Maryland Approves $2.75 Million Settlement in State Police Discrimination Case
Maryland officials approved a $2.75 million settlement on Wednesday to resolve a federal investigation into discriminatory hiring practices affecting Black and female applicants to the Maryland State Police. The settlement, approved by the Maryland Board of Public Works, will include …
Environmental Group Turns to Oyster Shells to Rebuild Sinking Louisiana Coastline
Jonathan Phillips says he thinks about Louisiana’s disappearing coastline every day. As a commercial fisherman and member of the Atakapa-Ishak/Chawasha tribe, he sees water levels rising in Plaquemines Parish firsthand. He grew up in Marrero but spent a lot of …