Insurance
Top stories summarized by our editors
12/9/2019

Google Password Checkup and Firefox Monitor offer free tools to let users check whether an email address or username and password has been compromised in a data breach. In addition, routine monitoring of Equifax, Experian and TransUnion credit reports also can turn up evidence that credentials have been compromised in a hack.

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CNET
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TransUnion
12/9/2019

PG&E has agreed to pay $13.5 billion in damages to wildfire victims in California. The settlement is an "important milestone" for the utility as it seeks to emerge from Chapter 11 bankruptcy, said CEO Bill Johnson.

12/9/2019

With hurricanes increasing in power and frequency, it's important for residents and business owners in high-risk areas in Texas to pay their fair share to the Texas Wind Insurance Association to keep it financially stable, writes Chris Tomlinson. "[T]he TWIA board should begin the incremental process of raising more money and building to establish an actuarially sound reserve fund," Tomlinson writes.

12/9/2019

General Motors' $2.3 billion joint venture with LG Chem for electric-vehicle battery production is an example of a growing cost-sharing trend in an automotive industry headed toward electrification and autonomy. Autonomous-vehicle tie-ups increased 122% from 2017 to 2018, according to AlixPartners.

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CNBC
12/9/2019

Homes in Northern California were damaged over the weekend due to a heavy rain storm that also caused a rockslide and forced the closure of Northbound Highway 101. In Big Sur, a rockslide forced part of Highway 1 to close, according to the California Department of Transportation.

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The Weather Channel
12/9/2019

The number of uninsured drivers on Florida roads would rise if state lawmakers pass Senate Bill 378, a measure that aims to repeal provisions of the personal injury protection statute and transition to a more tort-based system, according to APCIA. "In its current form, SB 378 does not have any bad-faith fixes and has a mandatory medical pay offer, which would result in significant costs to Florida consumers and no real fraud-fighting protections," Logan McFaddin, assistant vice president of state government relations for APCIA.

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Florida Record
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Senate
12/9/2019

California's requirement to have the state FAIR Plan offer HO-3 policies in addition to fire-only coverage by June 1 could drive costs up, insurance industry experts say. "There's no reason to believe that the FAIR Plan can put together an HO-3 policy that will be cheaper than the current situation, which is a basic fire policy and a Difference In Conditions policy, and it certainly will not be any cheaper than agency policies that are available," said Mark Sektnan, vice president of APCIA.

12/6/2019

According to an analysis of 40 years of data from the National Flood Insurance Program, flooding in western states led to nearly $51 billion in damages, more than 84% of which were caused by atmospheric rivers. In certain parts of Oregon and Northern California, these rivers accounted for almost all flood damages, the study said.

12/6/2019

The Water, Peace and Security partnership has introduced the WPS Global Early Warning Tool app to predict water conflicts that may result in casualties up to 12 months before they occur. The partnership says governments and disaster relief groups can use the app to head off potential problems.

12/6/2019

Annualized premiums from new individual life insurance policy sales were up about 2% in the third quarter compared with a year ago, according to LIMRA. Total coverage sold in Q3 was up about 4% year over year, while the number of new policies fell 3%, LIMRA reported.