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Latest Texas Storms Bring Damaging Winds, Baseball-Sized Hail
Insurance Journal | May 30, 2024
Latest Texas Storms Bring Damaging Winds, Baseball-Sized Hail
HOUSTON (AP) — Strong storms with damaging winds and baseball-sized hail pummeled Texas on Tuesday, leaving one person dead and about 1 million businesses and homes without power as much of the U.S. recovered from severe weather, including tornadoes, that …
Texas Panhandle Braces for Damaging Hail and Wind: Weather Watch
Insurance Journal | May 30, 2024
Texas Panhandle Braces for Damaging Hail and Wind: Weather Watch
Severe thunderstorms are set to sweep across Texas Panhandle, including Lubbock and Amarillo on Thursday. The risk will drop on Friday and Saturday but destructive systems will still be possible, the US Storm Prediction Center said. “A tumultuous weather pattern …
Property-Catastrophe Reinsurance Rates Drop by 5% at June Renewals: Howden Re
Insurance Journal | May 30, 2024
Property-Catastrophe Reinsurance Rates Drop by 5% at June Renewals: Howden Re
Property-catastrophe rates saw some moderating trends during the June 1 reinsurance renewals, with average risk-adjusted rates-on-line decreasing by 5% within a typical range of -7.5% to -2.5%, according to Howden Re, the reinsurance business of Howden. These decreases follow a …
32.7M Homes at Risk of Hurricane Damage, CoreLogic Report Shows
Insurance Journal | May 30, 2024
32.7M Homes at Risk of Hurricane Damage, CoreLogic Report Shows
More than 32.7 million residential properties from Texas to Maine are at risk of moderate or severe damage sustained from hurricane-force winds, a new report shows. The large number of at-risk homes in CoreLogic’s 2024 Hurricane Risk Report, which comes …
Ex-Employee Accuses Private Equity Firm of Retaliatory Firing Over Complaint
Insurance Journal | May 30, 2024
Ex-Employee Accuses Private Equity Firm of Retaliatory Firing Over Complaint
A former executive assistant at One Equity Partners sued the private equity firm on Wednesday, claiming she was subjected to sexist and racist conduct and was fired for complaining about it. Dianna Toomey, an Arab American of Lebanese descent, said …
People Moves: Ryan Specialty Promotes Pouliot to Chief Reserving Officer
Insurance Journal | May 30, 2024
People Moves: Ryan Specialty Promotes Pouliot to Chief Reserving Officer
Ryan Specialty, headquartered in Chicago, promoted Derek Pouliot to chief reserving officer of Ryan Specialty Underwriting Managers (RSUM). In his expanded role, Pouliot is responsible for valuation of underwriting results for all business written by RSUM, including portfolio analysis, risk …
Robot to Remove Melted Nuclear Fuel From Japan’s Damaged Fukushima Reactor
Insurance Journal | May 30, 2024
Robot to Remove Melted Nuclear Fuel From Japan’s Damaged Fukushima Reactor
The operator of Japan’s destroyed Fukushima Daiichi nuclear power plant demonstrated Tuesday how a remote-controlled robot would retrieve tiny bits of melted fuel debris from one of three damaged reactors later this year for the first time since the 2011 …
Climate Lawsuits Build as Latin American Court Hears Largest Case Ever
Insurance Journal | May 30, 2024
Climate Lawsuits Build as Latin American Court Hears Largest Case Ever
Latin America’s human rights court holds a final hearing in Brazil on Wednesday in a case that’s part of a global wave of climate litigation, as several international courts prepare first-time opinions on what countries must do to combat climate …
China Weighs Record Fine for PwC Over Evergrande Audit Work
Insurance Journal | May 30, 2024
China Weighs Record Fine for PwC Over Evergrande Audit Work
China is poised to impose a record fine on PricewaterhouseCoopers LLP and suspend some of the global auditor’s local operations over its role in one of the nation’s biggest alleged financial fraud cases, according to people familiar with the matter. …
EU Weighs Proposal to Sanction Russian Oil Tanker Insurer Ingosstrakh
Insurance Journal | May 30, 2024
EU Weighs Proposal to Sanction Russian Oil Tanker Insurer Ingosstrakh
The European Union’s executive arm is examining the feasibility of a proposal by one of its member states to sanction Russia’s Ingosstrakh Insurance Co., as part of efforts to choke revenue generating streams that Moscow needs to finance its war …