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Hurricane Florence Demonstrates Perils of Being Underinsured/Uninsured, Says RMS
Hurricane Florence caused extensive freshwater flood damage in the Carolinas and parts of Virginia in September—and about 70 percent of those flood losses will be uninsured, according to RMS. “The insured loss for Florence will be between $2.8 billion and …

POSTED JANUARY 24, 2019 8:44 AM
Private Flood Insurers Not Yet Ready to Fill Massive U.S. Protection Gap
The flood insurance protection gap in the United States is massive, but the take-up rate of private flood insurance continues to be low. The relative inability of private insurers to penetrate the flood insurance market has been blamed on the …

POSTED JANUARY 24, 2019 8:43 AM
Barrier Collapse at North Carolina Construction Site Kills 1
Authorities in North Carolina say one person is dead and two people are hurt after a barrier collapsed at a construction site. News outlets report the N.C. Department of Labor said the accident occurred Tuesday at a site where affordable …

POSTED JANUARY 24, 2019 6:07 AM
Lawsuit Filed Against School District Over Fatal Shooting at Kentucky High School
The estate of a girl killed and three other students wounded in a shooting at a Kentucky high school have filed suit against the school district and school officials, the teenage suspect and his mother and stepfather. The lawsuit filed …

POSTED JANUARY 24, 2019 6:05 AM
Businesses View Cyber, Business Interruption as Bigger Risks Than Catastrophes
Cyber incidents join business interruption as the top risks facing global businesses, according to a survey conducted by Allianz Global Corporate & Specialty (AGCS). The impact of business interruption (which includes supply chain disruption) is the major risk for companies …

POSTED JANUARY 24, 2019 6:00 AM
Insurance Industry Use of Drone, Aerial Imagery Soared After 2018 Southeast Disasters
The importance of drones and aerial imagery rose to a new level in the wake of 2018 natural catastrophes as insurers made them an integral part of their disaster recovery procedures, particularly following the hurricanes in the Southeast. From the …

POSTED JANUARY 24, 2019 5:58 AM
Houston Company to Pay $250K in Workers’ Comp Fraud Case
A Houston company has pleaded guilty to workers’ compensation premium fraud in a case that spanned four years, the Texas Department of Insurance, Division of Workers’ Compensation announced. According to the announcement, Alpha Mar entered the plea in a Travis …

POSTED JANUARY 24, 2019 12:54 AM
Winter Storm in Utah Leads to Avalanche, Crashes, Outages
A powerful winter storm has left a trail of traffic accidents, power outages and even an avalanche across Utah. Little Cottonwood Canyon reopened Tuesday morning, a day after an avalanche closed the canyon and State Route 210. Meanwhile, state troopers …

POSTED JANUARY 23, 2019 9:24 PM
PG&E in California Secures $5.5B in Credit and Loans to Operate During Bankruptcy
The nation’s largest utility has lined up $5.5 billion in credit and loans so it can continue operating as it prepares for bankruptcy. Pacific Gas & Electric said in a regulatory filing Tuesday it secured commitments from JPMorgan Chase, Bank …

POSTED JANUARY 23, 2019 9:22 PM
Travelers Partners with ASQ Underwriting on Transactional Risk Insurance
The Travelers Companies, Inc. has partnered with ASQ Underwriting, a managing general underwriter, to offer transactional risk insurance in the United States, as strategic and private equity investors increasingly turn to insurance to mitigate deal risk and compete for acquisition …

POSTED JANUARY 23, 2019 5:59 PM

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