Insurance
Top stories summarized by our editors
8/21/2018

A Texas jury has reached a verdict of more than $242 million in a lawsuit against Toyota, saying the company had failed to notify consumers of the risk that some types of collisions can cause front seats to collapse backward. The lawsuit arose from a crash in which two children suffered brain injuries when their parents' seatbacks collapsed, and some lawmakers have called for revising the standard for seatback strength, although the National Highway Traffic Safety Administration has said more evidence is necessary to take such action.

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CBS News
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Toyota
8/21/2018

Some workers' compensation insurance experts say an advocacy model, which aims for a more worker-friendly approach, could be key in attracting more millennials to the sector, which could see half of its most seasoned executives depart within a decade. "One of the things that millennials value above anything else is ... to be in a job that is striving to make a difference in the world," said Thomas Warsop of York Risk Services Group.

8/21/2018

Ford says in a report to the Transportation Department that it sees self-driving vehicles emerging first in areas such as commercial fleets, ride-hailing and delivery, rather than personal use. The automaker expects to produce a purpose-built autonomous vehicle in the next three years.

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Ford, Transportation Department
8/21/2018

A Standard & Poor's report shows the retrocessional reinsurance market is "increasingly dependent on third-party capital," and Artemis notes that alternative capital was important as reinsurers made recoveries from retrocession after last year's catastrophes. "Despite the 2017 losses, in aggregate, the top-20 reinsurers successfully expanded the use of sidecars or formed new vehicles, enabling them to expand their business while managing their net exposures," S&P says.

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Artemis
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S&P
8/21/2018

Wildfires throughout the Western US are producing smoke that is creating health risks as air quality deteriorates in several states, while smoke-related visibility problems could delay flights into Seattle. Five firefighters suffered minor injuries on Sunday as crews continue to battle the Mendocino Complex fire, which has destroyed 157 homes and burned across steep terrain in California.

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Mendocino Complex
8/21/2018

Record calendar-day totals for rainfall hit Omaha, Neb., on Sunday and Monday, as eastern Nebraska and western Iowa experienced flooding and powerful wind that caused property damage. Trees fell onto homes and power lines, basements were flooded and vehicles were stalled in floodwater on the streets in some areas.

8/21/2018

Hurricane Lane, a Category 3 storm with top wind speeds of 125 mph, could affect Hawaii if it takes a more northerly path. A tropical storm watch is in effect for the Big Island's southern and western coasts, and the state could experience heavy rainfall, powerful wind and coastal erosion even if it does not experience a direct hit.

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CNN
8/21/2018

A study from the Boston College Center for Retirement Research says only wealthy single people need long-term-care insurance, but certified financial planner David Rae argues such insurance provides peace of mind and financial security for singles in any income bracket. Rae recommends a hybrid life insurance policy with a long-term-care rider, rather than a stand-alone long-term-care insurance policy.

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Forbes
8/20/2018

Hackers can copy voiceprints to steal identities and access speech-control systems through attacks known as "voice hacking." CyberSponse Chief Strategy Officer Larry Johnson explores ways that hackers are using voice hacking, while also offering basic ways that companies should protect themselves to avoid these attacks.

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Entrepreneur online
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Larry Johnson
8/20/2018

A Morningstar report found that funds with the lowest sustainability rating had a growth rate 3.7% lower than expected, while those with the highest rating grew about 1.4% more than expected. "This indicates investors strongly avoid funds that are rated poorly from a sustainability perspective and do so more strongly than they are [drawn] to funds that are rated more highly," Morningstar analysts noted.

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Morningstar