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July 16, 2020 Edition

Headlines


 
Some 52% of economic output in Arizona, California, Idaho, Nevada, Oregon, Utah and Washington originates in counties with elevated wildfire hazard, putting the economies of the region in jeopardy as wildfires become more frequent and more destructive, Federal Reserve researchers found.
 
 
After weeks of demonstrations, discourse and civil unrest, the nation remains on edge. Preparing now for further turmoil can help mitigate potential risk.
 

Business


 
Global insurers have proven resilient during the first wave of the COVID-19 pandemic, but S&P Global Ratings predicts insurers’ capital buffers will erode through the second half of the year.
 
 
As part of this strategy to focus on its core markets, Lloyd’s will relinquish its admitted licenses in the U.S. Virgin Islands, Kentucky and Illinois, which together represent 1% of Lloyd’s annual U.S. premium income.
 
 
Carrier executives and their teams are also curbing impromptu calls and meetings, according to a new survey. Nearly half of respondents said they are doing more scheduled calls and meetings rather than spontaneous ones.
 
 
A U.S. lawmaker introduced a bill that would allow insurers to voluntarily pay certain COVID-related business interruption claims and get reimbursed by the federal government, but insurance groups rejected the idea.
 

Education


New findings point to the need for home improvements that resist embers, the cause of up to 90% of wildfire ignitions, say researchers who looked at data from several California wildfires. 
Downtown businesses in Portland, Ore. have sustained about $23 million in damages and lost customers because of violent nightly protests that have brought the city to its knees, authorities said.
A deep dive into the spending and practices of leading organizations reveals a detailed cybersecurity blueprint to help companies target their efforts.

Environment


 
Southern Oregon agency officials haven't fully fleshed out a plan to respond to a positive COVID-19 test from a wildland firefighter, but fire camps will be more rigorously cleaned.
 
 
This year's hurricane season is currently on pace to match the number of named storms during the historic 2005 hurricane season — a season which also saw a La Niña develop in the autumn.
 

Innovation


 
Insurers are creating products for a world where virus outbreaks could become the new normal after many businesses were left out in the cold during the COVID-19 crisis.
 
 
Automakers have new systems that allow for hands-free driving, but no safety or performance standards to follow as they roll out the most significant changes to vehicle technology in a generation.
 
 
Existing approaches to programming the artificial intelligence used by autonomous vehicles don't account for the complexity of moral decisions or for potentially malicious acts by people controlling the car.
 

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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