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June 4, 2020 Edition

Headlines


 
Rioting that erupted in cities across the United States after the Memorial Day death of George Floyd in Minneapolis may rival the 1992 Los Angeles riots to become the costliest civil disorder in United States history.
 
 
The COVID-19 pandemic will change wildland firefighting and possibly increase property risk in Washington state. New tools can help insurers and customers.
 

Business


 
Comparisons with previous civil disorders in the country suggest recent protest-related damage could be a meaningful man-made loss for the reinsurance industry.
 
 
AXA will meet business interruption claims from some restaurants in France after losing a court case seen as a potential precedent for similar disputes across the world.
 
 
Significant investments have helped property-and-casualty insurance companies improve the digital experience, but many still struggle to provide the right amount of information. 
 
 
Participating insurers would offer pandemic-related business interruption and event cancellation coverage and be reimbursed by a federal backstop for some losses.
 
 
Reinsurance rates increased significantly during June 1 renewals as underwriters reacted to cumulative catastrophe losses, financial market disruption and expected coronavirus-related losses.
 
 
The global reinsurance sector will fail to earn its cost of capital in 2020 amid the coronavirus crisis, which will help maintain reinsurance price increases during the year ahead, said Fitch Ratings.
 

Education


Authorities are looking for individuals who stole firefighting gear and other items from one of the stations in the west end of Pierce County Fire District 23 in Ashford.
In all likelihood, the cases will keep climbing as more than half a million seasonal employees crowd onto buses to move among farms across the country and get housed together in cramped bunkhouse-style dormitories.
Not only are we far from the old normal in road transport, it seems we’re still quite far from establishing what the new normal will be.

Environment


 
Across the country, as summer brings extreme weather to much of the United States, emergency planners are preparing for hurricanes, wildfires and other disasters amid the ongoing pandemic. The novel coronavirus has upended nearly every plan in the disaster response playbook.
 
 
Coronavirus concerns will have firefighters living differently and likely doing less, and potentially leaving some fires to burn rather than fighting them.
 
 
According to a new analysis, there are only four active flood insurance policies for every 10 houses located in what FEMA designates as 100-year floodplains.
 

About InsuranceEDGE

 
Curated weekly by WSRB experts, InsuranceEDGE helps you work smarter. You don't want to miss an issue. Get InsuranceEDGE delivered to your inbox every Thursday. 
 
 
 
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