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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 [...] WIAA California and Nevada motorists rated an average grade of 77 out of 100, which placed California 39th and Nevada 40th among all states and the District of Columbia, according to a report by the website Everquote that made evaluations based on the percentage of drivers who use phones while on the road, speed, accelerate [...] Insurance Journal Hyok Kwon, owner of Good Neighbor Services, a janitorial company that provided services to some of San Diego’s most exclusive hotels and resorts, has pleaded yesterday to seven felonies, including premium and employment tax fraud. [...] Bloomberg, Insurance Journal Hank sat impassively on a Virginia Tech athletic field, ready to take it on the chin for the future of drone commerce. About 30 yards away, an eight-rotor unmanned copter hovered, buzzing like a swarm of bees. The 21-pound drone tilted forward, accelerated sharply and slammed into Hank’s head, smacking the crash-test [...] Insurance Journal An earthquake fault running from San Diego Bay to Los Angeles is capable of producing a magnitude-7.4 earthquake that could affect some of the region’s most densely populated areas, according to a new study. [...] |
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