Wildfire…tornadoes…hurricanes….earthquake…flash floods…and more. All of these catastrophes were the hots topics of conversation and especially instructive for a group of 8th– through 11th-graders from across the country who may one day become our next generation of emergency managers. For the past decade, I have had the privilege to serve alongside Florida’s …
LMA NEWSLETTER August 7, 2023
New Rules, New Citizens Depopulation Push
Missing: affordable reinsurance
More proposed rules are in the pipeline with a workshop tomorrow to implement some of Florida’s most recent property insurance market reforms, five insurance companies get the okay to takeout up to 186,000 policies from Citizens Insurance as the state-backed carrier readies a new and improved policy clearinghouse platform, the push for …
Is the P&C Industry Reactive? Why?
By Tim Molony, AIC, MGA
The Reinsurance Podcast Episode #62 is thought provoking. Jerad Leigh and Ben Rose dig into the current hard market. To me, some of the discussion begs the question, “Why does it seem that the insurance/reinsurance industry always appears to be reactive, rather than proactive?”
In some ways I believe the …
Hurricane Michael Public Adjuster, Contractor Busted
Plus, the growing Louisiana law firm scandal
A public adjuster and an unlicensed contractor have been sentenced for ripping-off an elderly man whose home was damaged by Hurricane Michael, Tampa Bay authorities are cracking down on those trying to steal homes from the elderly and dead, plus the latest on the suspension of the McClenny, …
Ian Flooding Often Exceeded Expected Flood Levels
New FEMA report offers insight, advice
FEMA is out with the first of likely several reports on Hurricane Ian damage, this one with an eye on building higher, and the American Society of Civil Engineers has released a report its says marks a milestone in advancing flood-resilient building design. It’s all in this week’s Flood …
More Storms Forecast this Hurricane Season
Insurability crisis looming
AccuWeather ups its Atlantic hurricane season forecast, Gallagher Re warns of a looming insurability crisis due to a big increase in storm losses, plus a new report says hurricanes are getting wetter – and costlier for insurance companies. It’s all in this week’s Disaster Management Digest.
Hurricane Predication Update: AccuWeather is …
Oyster Reefs: A Natural Insurance for Coastal Resilience and Profitable Partnerships
By Liza McFadden
In the face of escalating storm risks and the need for sustainable solutions, insurance and reinsurance markets are seeking innovative strategies to protect coastal communities. One promising avenue lies in supporting investments in the development of oyster reefs. NOAA reports that a dense oyster reef with a shell density of approximately 1,000 …
Learning
One of our regular readers sent this meme to us as she was touched by the story in our last edition on The Power of Resilience. And the thought this meme shares is the truth. When we find ourselves in situations that upset us or make us angry, our first thought is always, “why …