Only half of Florida's 828,000 mobile homes have insurance coverage, and recent hurricanes have highlighted the structures' wind- and other weather-related risks, Christine Barlow of FC&S says. Homeowners policies may cover some contents but must include ISO Endorsement MH 04 01 for the mobile home itself and a separate endorsement for a mobile home in transit, she says.
Regulatory agency Transport for London won't renew Uber's expiring operating license for the city due to "a lack of corporate responsibility" on matters that have "potential public safety and security implications." The license expires Sept. 30, but Uber can continue to operate during a 21-day window for an appeal.
Hurricane Maria remains a Category 3 with the potential to cause 12-foot storm surges as it heads toward Turks and Caicos. The most intense hurricane to strike Puerto Rico in nearly 90 years, the storm is blamed for at least 32 deaths in the Caribbean.
By purchasing a single-premium immediate annuity, people requiring nursing-home care can avoid Medicaid's requirement they exhaust their retirement savings before getting assistance, according to lawyer and Medicaid expert K. Gabriel Heiser. It is important for individuals to put a Medicaid asset-protection plan in place before they need nursing-home care, he said.
Among millennials who are saving for retirement, 46% said they rely on a human advisor for help, while 24% use a robo-advisor, according to a survey by the loan refinancing firm LendEDU. A robo-advisor is more likely to lose their money than a human advisor, said 62% of respondents.
Puerto Rico's recovery from Hurricane Maria is "going to be a very challenging situation that's probably going to last for months and not just weeks," as only about half the island's homes have wind-damage coverage and even fewer have flood coverage, said PCI President and CEO David Sampson. Primary US insurers are well-positioned to cover losses, as they have about $708 billion in policyholder surplus, he said.
Insurers in Florida have received more than 397,000 residential property claims and more than 17,000 commercial property claims related to Hurricane Irma, and estimated insured losses in the state now exceed $3 billion, the Florida Office of Insurance Regulation said Thursday. A catastrophe-modeling company estimates tens of billions of dollars in US losses from Irma.
The redesigned FloodHelpNY.org helps New York City homeowners assess their properties' flood risk and research flood insurance options. The Ideo design firm helped housing nonprofit Center for NYC Neighborhoods revamp the site and expand its information.
Cooler weather and snowfall are helping in the battle against wildfires in states such as Oregon and Montana, lowering the risk levels in many national forests from extreme to moderate. "It's allowing fire crews to [go on the offensive with] some rehab on hand and dozer lines," Bitterroot National Forest's Tod McKay said.
North American executives' said in a World Economic Forum survey major cyberattacks are among their chief concerns. Executives also are increasingly worried about terrorist attacks and climate risks, "most likely due to recent high-profile events," said Martin South of Marsh & McLennan Cos., which published the study with Zurich Insurance Group.
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