Rep. John Garamendi, D-Calif., introduced a bipartisan bill aimed at revitalizing US-flag shipping for international government cargo on Friday. Rep. Bob Gibbs, R-Ohio, co-sponsored the Rebuilding the United States-Flag International Fleet Act, which would reinstate a requirement that at least 75% of gross seaborne tonnage for international food aid programs be carried on US-flagged vessels.… Continue reading Bill Introduced to Boost U.S.-Flag Shipping
Author: Annie George
How AI Is Impacting the Insurance Industry
Artificial Intelligence (AI) is changing how nearly all companies do business and significantly influencing the property and casualty insurance industry. From improving customer service to reducing operational costs, AI is helping insurers make their businesses more innovative and efficient. And while AI offers many benefits, there are challenges associated with implementing it into day-to-day processes… Continue reading How AI Is Impacting the Insurance Industry
Will Ian ‘Financially Ruin’ Homeowners and Insurers?
When Hurricane Ian inundated the region with powerful ocean surges and damaging downpours, it is expected to financially ruin countless people in Florida whose homes were not covered by flood insurance. The personal financial losses are a result of Ian’s zeal and the fact that millions of Americans across the country have not purchased flood… Continue reading Will Ian ‘Financially Ruin’ Homeowners and Insurers?
Florida’s Investment in Strengthening Its Electrical Grid Stands Up to Ian
Multi-billion-dollar upgrades to the electric grid by Florida’s largest utilities in recent years appear to have withstood Hurricane Ian’s destructive winds and flooding. Initial assessments show that much of Florida’s grid, particularly the transmission system, fared relatively well during the storm, thanks in part to major investments made in recent years. However, storm surge and… Continue reading Florida’s Investment in Strengthening Its Electrical Grid Stands Up to Ian
New Estimate Shows Insured Losses to Onshore Properties from Ian May Reach $57B
Verisk expects insured losses to onshore property from Hurricane Ian to range between $42 billion and $57 billion. Verisk Extreme Event Solutions’ industry loss estimate includes estimated wind, storm surge, and inland flood losses from Ian’s landfalls in both Florida and South Carolina. Certain elements, such as losses to the National Flood Insurance Program and… Continue reading New Estimate Shows Insured Losses to Onshore Properties from Ian May Reach $57B
Peloton, Lululemon Settle Patent Infringement Lawsuit Over Women’s Apparel Line
Peloton Interactive Inc has settled a lawsuit in which Lululemon Athletica Inc accused the exercise bike manufacturer of infringing on its patents by developing a line of women’s apparel. Peloton has agreed to phase out “certain designs” that Lululemon had objected to in a lawsuit without admitting wrongdoing, the companies said in a joint statement… Continue reading Peloton, Lululemon Settle Patent Infringement Lawsuit Over Women’s Apparel Line
USQRisk Welcomes Lael Chappell to Advance MGA Accelerator
USQRisk, the international managing general agent focused on alternative risk transfer solutions, has named Lael Chappell the chief marketing and business development officer of Desq. Prior to joining USQRisk, Chappell served as director of insurance distribution for Attune Insurance, now Coalition Inc. With expertise spanning across the insurance distribution line, Chappell’s experience underwriting, leveraging strategic partnerships,… Continue reading USQRisk Welcomes Lael Chappell to Advance MGA Accelerator
Devastation in Florida from Ian: Death, Destruction, Darkness
At least 21 people died in Florida after Hurricane Ian made landfall Wednesday, according to Florida officials, who warned that the toll could rise. According to Kevin Guthrie, director of the Florida Division of Emergency Management, the state confirmed one death in Polk County caused by the storm surge or rising water levels on Friday.… Continue reading Devastation in Florida from Ian: Death, Destruction, Darkness
Insurance Price Tag from Hurricane Ian Estimated at Up to $47B: CoreLogic
CoreLogic®, a leading global provider of property information, analytics, and data-enabled solutions, released residential and commercial wind and storm surge loss estimates for Hurricane Ian today. Wind losses for residential and commercial properties in Florida are expected to range between $22 billion and $32 billion, according to this new data analysis. Storm surge insurance claims… Continue reading Insurance Price Tag from Hurricane Ian Estimated at Up to $47B: CoreLogic
iPhone14 Auto Crash Detection Put to the Test
Crash Detection is one of the most notable new features of the iPhone 14 lineup and the new Apple Watch models. This feature detects when you’ve been in a car accident and uses Emergency SOS to notify first responders and your emergency contacts. A new video released today puts the iPhone 14’s Crash Detection through… Continue reading iPhone14 Auto Crash Detection Put to the Test