Markets
National Flood Insurance Program Extended to Mid-December
Late last week President Joe Biden signed legislation passed by Congress to extend the National Flood Insurance Program's authorization to Dec. 16, 2022. "NFIP reauthorization is an opportunity for ...
Ian Insured Loss Estimates Rise: New High Over $60B
Between the time Tropical Storm Ian moved from Florida on Thursday evening and the time it centered as a post-tropical cyclone near Myrtle Beach, S.C., early on Friday night, damage estimates from ...
Vermont High Court: COVID Virus, Like Cat Urine, Can Cause Physical Loss
Citing decisions that found insurance coverage was owed for contamination caused by cat urine and gasoline vapors, the Vermont Supreme Court broke from courts across the nation and found that ...
Insurers Warn California’s Inaction Threatens Auto Policies
Top U.S. insurance companies and associations say California is risking a crisis in the nation's largest automobile insurance market by refusing to approve any rate increases for more than two years, ...
Unrated Insurers at Risk From Ian; Reinsurers Impacted: Fitch
Offering an initial estimate of $25-$40 billion in insured losses from Hurricane Ian, Fitch Ratings said that P/C insurance and reinsurance company credit ratings are unlikely to be downgraded as a ...
How to Avoid Being a ‘Sitting Duck’ During a Disaster-Related Ransomware Attack
Atlantic Hurricane Season, which runs from June 1 through Nov. 30, had a slow start this year but has begun ramping up as Hurricane Fiona made its way across the Atlantic last week and brought with ...
Hurricane Ian Threatens Heavy Losses for Catastrophe Bondholders
Investors who backstop Florida's insurance industry by buying catastrophe bonds are girding for substantial losses from Hurricane Ian, threatening to crimp a key source of capital for the sector and ...
Gun Violence Costs the U.S. $557 Billion a Year
Gun violence that causes tens of thousands of U.S. deaths each year — far more than any other developed nation — is having a significant, negative impact on the country's economy, Harvard Medical ...