Insurance
Top stories summarized by our editors
10/17/2018

Sixteen cases of Legionnaires' disease in the Washington Heights neighborhood of Manhattan were reported by New York City's Department of Health and Mental Hygiene, and officials have confirmed one fatality in the group. The illness often results from improperly cleaned cooling towers transmitting infected water, and the city has ordered 11 towers to be immediately sanitized.

10/17/2018

A bill proposed by five City Council members in Washington, D.C., would have the city's power grid using entirely renewable energy sources by 2032. Current policy aims to have half of the city's energy coming from renewable sources by the same year.

More Summaries:
City Council
10/17/2018

The Environmental Protection Agency enacted regulations for underground storage tanks on Oct. 13. Among other requirements, sump and underdispenser containment systems tests, along with spill-bucket testing, must be conducted every three years.

10/17/2018

The acts of a third-party hacker, not the data security practices of a hotel subsidiary company, led to a data breach and therefore didn't trigger personal injury coverage under the parent company's liability policy, a Florida federal judge ruled recently.

10/17/2018

Aon's Cyber Solutions is pleased to present our review of the 2018 Cyber Predictions Updated report. The insights draw upon our experience working with security and risk professionals, as well as boards and the C-suite, to plan for, mitigate and manage the impact of cyber risk across the enterprise. Aon leaders in cybersecurity and cyber risk will discuss the 2018 predictions and if those predictions came to bear during the course of the year, as well as their first-hand experience and insights on proactive, reactive and risk transfer strategies. Register.

Full Story:
aon.com
10/16/2018

At least 19 people have died as a result of Hurricane Matthew and volunteer organization CrowdSource Rescue estimates 1,300 people in the Florida Panhandle remain unaccounted for in the storm's aftermath. Michael's path through Florida included a direct hit to Tyndall Air Force Base, where many buildings were destroyed and hangars housing F-22 Raptor fighter jets were damaged.

10/16/2018

Insured losses of $6 billion to $10 billion could result from Hurricane Michael, according to an AIR Worldwide estimate that does not include losses covered by the National Flood Insurance Program. Experts say the reinsurance sector, meanwhile, appears likely to absorb losses from Michael without facing major disruption.

Full Story:
Reinsurance News
More Summaries:
Michael, AIR Worldwide
10/16/2018

Competition from insurtech startups is likely to rise as digital platforms create more links among consumers, companies and industries, the Geneva Association says in a report. In the area of auto insurance, for example, the report says automakers and data collectors might opt to enter the insurance business instead of sharing their data with carriers.

Full Story:
Reinsurance News
More Summaries:
Geneva Association
10/16/2018

Wildfire risk emerging from powerful wind in California led Pacific Gas & Electric and San Diego Gas & Electric to cut power to about 87,000 customers on Sunday. The wind has resulted in downed power lines and one woman died when a tree landed on her vehicle.

10/16/2018

Cyberinsurance claims related to ransomware and monetary theft are on the rise, surpassing privacy as the top cyberrisks in the US, writes James Burns of CFC Underwriting. That development "means companies must be more diligent than ever when searching for a cyber insurance provider, and insurers must quickly adapt to ensure they are meeting modern businesses' needs," he notes.

Full Story:
PropertyCasualty360