Insurance
Top stories summarized by our editors
4/20/2018

Senate Minority Leader Chuck Schumer, D-N.Y., intends to file a bill today that would decriminalize marijuana, removing it from the federally scheduled substances list that includes heroin. The legislation also would provide funding for research into the drug's health effects as well as for marijuana businesses owned by women and minorities.

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National Public Radio
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Chuck Schumer, marijuana, heroin
4/20/2018

Bipartisan legislation filed in the House and Senate on Wednesday would make $5.5 million in grants available for cities to enhance flood-mapping technology to more accurately account for flood risk. The Flood Mapping Modernization and Homeowner Empowerment Pilot Program Act of 2018 also aims to let cities improve the data they share with Congress and the Federal Emergency Management Agency.

4/20/2018

New factors that can be signs of potential workers' compensation fraud are emerging as courts are increasingly favoring claimants' medical evidence rather than insurance company experts, attorneys said at a recent conference. Traditional red flags include the timing of an injury and whether an employee is disgruntled, but emerging indicators of fraud include subjective complaints and a high number of claims involving a particular doctor or lawyer.

4/20/2018

A storm that hit Kauai, Hawaii, last weekend caused flooding from rainfall that measured 28 inches in one location, and more rainfall is in the forecast. Crews had evacuated more than 425 people via airlift as of Wednesday night.

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National Public Radio
4/20/2018

Calmer wind and the potential for rain in Oklahoma could benefit crews battling wildfires throughout the state, where two people have died and about two dozen people have been injured as a result of the fires. Arizona and New Mexico are facing a particularly high wildfire risk, while a fire in Colorado and another in Texas are largely contained.

4/20/2018

Detroit residents Thursday night felt a 3.6 magnitude earthquake with its epicenter 20 miles away in Ontario, Canada. No immediate reports of damage emerged.

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Detroit Free Press
4/20/2018

Storms that hit the Central and Eastern US in mid-April are likely to generate hundreds of millions of dollars' worth of insured losses, according to Aon Benfield's Impact Forecasting unit. Twenty states experienced damage from the storms, which involved 79 reported tornadoes, large hail, powerful wind and frozen precipitation.

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Artemis
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Aon Benfield
4/20/2018

North Carolina homeowners will see insurance premiums rise 4.8% on average now that the state Department of Insurance and the North Carolina Rate Bureau have agreed on a figure. The increase will differ by property and is limited to 5.5% statewide.

4/20/2018

An Accenture report shows 90% of financial-services executives expect compliance costs to rise, with roughly half anticipating a 10% to 20% increase. The biggest compliance risks firms are dealing with are "fraud and financial crime risk, business risk and cyberrisk," says Jim D'Arezzo of Condusiv Technologies.

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Accenture
4/20/2018

Advisors, analysts and compliance experts have begun to weigh in on the Securities and Exchange Commission's roughly 1,000-page rules package regarding investment-advice standards. A number of critics say the rules lack clarity.