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Category: Insurance Journal

More Logging Proposed to Help Curb Wildfires in Pacific Northwest
Insurance Journal | November 20, 2024
More Logging Proposed to Help Curb Wildfires in Pacific Northwest
U.S. officials would allow increased logging on federal lands across the Pacific Northwest in the name of fighting wildfires and boosting rural economies under proposed changes to a sweeping forest management plan that’s been in place for three decades. The …
New York City Issues First Drought Warning in 22 Years
Insurance Journal | November 19, 2024
New York City Issues First Drought Warning in 22 Years
New York City has issued its first drought warning in 22 years after months of little rain — and will restart the flow of drinking water from an out-of-service aqueduct as supplies run low. Dry conditions across the Northeast have …
Massachusetts Police Charge Man With Intentionally Setting Brush Fires
Insurance Journal | November 19, 2024
Massachusetts Police Charge Man With Intentionally Setting Brush Fires
A man was arrested on suspicion of intentionally setting brush fires in Massachusetts during a time of dry conditions that have led to blazes throughout the Northeast, police said Monday. Police said they arrested the 72-year-old Attleboro man during a …
TWIA Board Reviews 2025 Budget After $455 Million Loss from Hurricane Beryl
Insurance Journal | November 19, 2024
TWIA Board Reviews 2025 Budget After $455 Million Loss from Hurricane Beryl
The Texas Windstorm Insurance Association Board of Directors met last week to review information related to the agency’s 2025 budget. The meeting presented new information on TWIA losses from 2024 storms as projected policy growth in the coming year. The …
People Moves: Great American Insurance Group Promotes Gambrell to Divisional President, Excess Liability
Insurance Journal | November 19, 2024
People Moves: Great American Insurance Group Promotes Gambrell to Divisional President, Excess Liability
Great American Insurance Group, headquartered in Cincinnati, promoted Todd D. Gambrell to divisional president, excess liability, effective Jan.1, 2025. Gambrell will succeed John V. Bracca, who will retire in January after more than 30 years of service. Gambrell joined Great …
Louisiana Community Protest Approval Process for Ammonia Plant
Insurance Journal | November 8, 2024
Louisiana Community Protest Approval Process for Ammonia Plant
ELKINSVILLE, La. (AP) — A dispute over a planned ammonia plant near a historic Black town in southeastern Louisiana ratcheted up a notch with a challenge to the state’s approval process. The battle over the plant is occurring despite the …
AI Thermostats Pitched for Texas Homes to Relieve Stressed Grid
Insurance Journal | November 8, 2024
AI Thermostats Pitched for Texas Homes to Relieve Stressed Grid
Three of the biggest names in US home energy automation are coming together to offer some relief to the beleaguered Texas electrical grid. Power supplier NRG Energy Inc. is partnering with Renew Home LLC to distribute about 650,000 artificial intelligence-enabled …
Multiple Climate Disasters Trigger First-Ever Red Cross Disaster Insurance Pay-Out
Insurance Journal | November 8, 2024
Multiple Climate Disasters Trigger First-Ever Red Cross Disaster Insurance Pay-Out
The world was hit by so many floods and landslides in 2024 that it triggered the aid sector’s first multi-disaster insurance pay-out, the Red Cross told Reuters, signaling both the scale of the problem and the need for new financing …
Spain’s Devastating Floods Will Cost Insurers Over $3.8 Billion
Insurance Journal | November 8, 2024
Spain’s Devastating Floods Will Cost Insurers Over $3.8 Billion
The floods that devastated the Spanish region of Valencia at the end of last month are expected to trigger total insurance losses in excess of €3.5 billion ($3.8 billion), Moody’s estimates. The projection is based on the first 72,000 insurance …
Delta-8 Hemp and Texas Medical Marijuana Industries to Face Off in Upcoming Legislative Session
Insurance Journal | November 1, 2024
Delta-8 Hemp and Texas Medical Marijuana Industries to Face Off in Upcoming Legislative Session
Jack Stinnett got life-changing news in 2020 when he learned the lump that appeared on the side of his neck was tongue and mouth cancer. He and his wife Karen quickly enrolled him at MD Anderson Cancer Center in Houston, …