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Renewable Energy Offers a Cost and Opportunity to Insurance Sector
Policyholders in the renewable energy insurance market are paying between 20%-40% more for cover today than a year ago as insurers seek to recover the cost of “devastating claims” in regions hit by natural catastrophes, industry sources say. Unpredictable weather …
POSTED NOVEMBER 07, 2024 12:27 PM |
2024 Will Be World’s Hottest Year on Record, EU Scientists Say
This year is “virtually certain” to eclipse 2023 as the world’s warmest since records began, the European Union’s Copernicus Climate Change Service (C3S) said on Thursday. The data was released ahead of next week’s U.N. COP29 climate summit in Azerbaijan, …
POSTED NOVEMBER 07, 2024 11:54 AM |
Zurich’s Exposure to Hurricanes Helene, Milton Below $360M as Catastrophe Losses Rise
Zurich Insurance Group said on Thursday that its exposure to Hurricanes Helene and Milton, which recently wreaked havoc in the United States, would be less than $360 million, as insurers face increasing losses from natural catastrophes. Analysts expect up to …
POSTED NOVEMBER 07, 2024 9:30 AM |
Swiss Re Cuts 2024 Profit Target After Raising US Reserves
Swiss Re AG said it was raising reserves in its US Property & Casualty business by $2.4 billion in the third quarter, a move analysts said was positive despite a resulting downgrade to full-year profit expectations. “We conducted a comprehensive …
POSTED NOVEMBER 07, 2024 9:05 AM |
About 17% of Gulf of Mexico Oil Production Shut Due to Hurricane Rafael
About 17% of crude oil production and 7% of natural gas output in the U.S. Gulf of Mexico was shut in response to Hurricane Rafael, the U.S. Bureau of Safety and Environmental Enforcement said on Wednesday. Energy producers had shut …
POSTED NOVEMBER 07, 2024 6:04 AM |
‘Board Certified’ Could Soon be an Advertising Thing for Florida Insurance Lawyers
By this time next year, plaintiffs lawyers, who have frequently been held up as thorns in the side of the Florida property insurance industry for their sometimes-aggressive pursuit of policyholder claims litigation, could have a stamp of credibility to brandish …
POSTED NOVEMBER 07, 2024 6:01 AM |
Massachusetts Voters Allow Uber, Lyft Drivers to Unionize
Massachusetts voters on Tuesday approved a ballot measure that would allow ride-share drivers to unionize, becoming the first U.S. state to allow drivers for app-based companies like Uber and Lyft to do so. With 94% of precincts reporting, 53.9% of …
POSTED NOVEMBER 07, 2024 6:00 AM |
Company Vows to Sue Over Damages After New Mexico Police Destroy Cannabis Crops
State police have destroyed tens of thousands of pounds of marijuana plants at greenhouses in northwestern New Mexico, marking what regulators say is the largest seizure and destruction of cannabis in New Mexico since new possession and cultivation laws took …
POSTED NOVEMBER 07, 2024 6:00 AM |
Time Dwindling For Flood-Affected Connecticuters to Apply for Assistance
Connecticut Governor Ned Lamont recently reminded homeowners, renters and businessowners in Fairfield, Litchfield and New Haven counties that less than two weeks remain to apply for federal disaster assistance to support recovery for uninsured or underinsured property damage experienced during …
POSTED NOVEMBER 07, 2024 6:00 AM |
Pennsylvania Prohibits Fires on State Lands As Dry Conditions Persist
Earlier this week, the Pennsylvania Department of Conservation and Natural Resources (DCNR) announced that it is prohibiting campfires on state park and forest lands until further notice. The department also encouraged Pennsylvanians to avoid burning on all lands amid extremely …
POSTED NOVEMBER 07, 2024 6:00 AM |
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