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Insurance Journal The California Earthquake Authority’s governing board has voted to sponsor and support the Resilient Homes Initiative, a bill aimed at helping Californians prepare for earthquakes by restructuring the CEA to strengthen its long-term financial sustainability and increase the number and types of seismic-retrofit grants the authority can offer. Senate Bill 254 was introduced [...] Insurance Journal – Bloomberg Over the past few years, cities across America have experienced sudden downpours of shared electric scooters, piling up almost overnight on curbs, sidewalks and front-yards from Atlanta to Los Angeles. [...] The National Highway Traffic Safety Administration said it is moving to allow advanced headlights known as “adaptive driving beams” to be used in vehicles on U.S. roads that could help prevent nighttime crashes. [...] A Los Angeles man has been fined $550 and ordered to pay restitution for riding an electric scooter while intoxicated and knocking over a 64-year-old pedestrian on a sidewalk. [...] Insurance Journal Insurers have received more than 2,000 insurance claims totaling more than $421 million in losses from the deadly Montecito, Calif. mudslide that destroyed or damaged more than 400 homes and businesses and killed 21 people, the California Department of Insurance reported. [...] Insurance Journal Insurance companies writing in California were sent a notice by the California Department of Insurance reminding them that under Proposition 103 their rates must not be excessive, inadequate, or unfairly discriminatory. The recent revision to the Federal Tax Schedule for 2018 reduced the corporate tax rate from 35 percent to 21 percent. [...] Insurance Journal Last week, Waymo showed a video of people riding in its self-driving minivans. They thumbed their phones, yawned and one snoozed. The message: Driverless cars are so safe, they’re boring. The clip was meant to drum up support for a fully driverless taxi service it plans in Phoenix later this year. [...] Insurance Journal The U.S. property/casualty industry recorded a net underwriting loss of $23.5 billion for year-end 2017, according to preliminary results from A.M. Best. That was $18 billion bigger than the underwriting loss in 2016. The 2017 underwriting loss was mainly due to an estimated $52.9 billion paid out for catastrophes, more than double what [...] Number of Americans Without Health Insurance Rose by 3 Million in 2017: Gallup https://www.insurancejournal.com/news/national/2018/01/17/477331.htm Insurance Journal Bloomberg
The deadliest mass shooting in modern U.S. history is adding to soaring costs for insurance companies, which are already taking a beating this year from an onslaught of hurricanes, earthquakes and wildfires. The industry may have to shell out more than $1 billion for the Las Vegas massacre, insurance executives say. [...] Insurance Journal Insured losses from the siege of California wildfires could possibly reach $8 billion, according to new estimates released on Friday by catastrophe modeler RMS. The firm now estimates the insured loss for the wildfires impacting Sonoma, Napa, Solano, Lake and Mendocino counties will reach between $6 billion and $8 billion. [...] Insurance Journal If you happen to buy a cup of coffee in California and it comes with a cancer warning, don’t panic – it’s just the law. No scientific study says consuming java in moderation is bad for your health – and some even show it’s good for you. But winning a reprieve from [...] |
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