Insurance
Top stories summarized by our editors
8/17/2018

The International Association of Insurance Supervisors and the Sustainable Insurance Forum have released a report that says supervisors should conduct "ongoing and intensifying scrutiny" of climate-change risks such as extreme weather events that insurers face. The report notes a rising trend in physical, transition and liability risks as well as insured and economic losses.

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PropertyCasualty360
8/17/2018

The Los Angeles subway system will adopt body scanners to detect suspicious materials such as weapons or explosives from 30 feet away, and customers who opt not to undergo screening won't be allowed to ride on the subway. This is the first instance of a US mass transit system installing body scanners, and the Transportation Security Administration has tested scanners at stations in New York City, New Jersey and Washington, D.C.

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The Associated Press
8/17/2018

An investigation found that Redding, Calif., fire inspector Jeremy Stoke was killed by a "fire tornado" that was about 1,000 feet wide and had wind speeds as high as 165 mph. Smoke from wildfires in California has caused Seattle's air quality to fall to its worst level on record and has even reached Maryland and other parts of the Mid-Atlantic.

8/17/2018

The San Francisco area has a more than 70% chance of experiencing an earthquake of magnitude 6.7 or greater in the next 30 years, according to the US Geological Survey. The USGS and experts are raising concerns about the seismic resilience of San Francisco's skyscrapers, and Glenn Pomeroy of the California Earthquake Authority said appropriate insurance for homes is crucial.

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CNBC
8/16/2018

An analysis by the Center for Economic and Policy Research found that about half of people age 65 and older rely on Social Security for half of their income and about one-quarter get 90% of their income from it. The analysis also found that women and people of color rely on Social Security more than other groups.

8/16/2018

Insured losses resulting from first-half catastrophes were $20 billion worldwide, down from $30 billion in the same period last year and below the $35 billion average, according to Swiss Re. First-half global economic losses were $36 billion, compared with $64 billion in the first half of 2017 and the long-term average of $125 billion, Swiss Re said.

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Artemis, Reuters
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Swiss Re
8/16/2018

A report from the Governors Highway Safety Association raises several questions for governments to address before self-driving vehicles are in full force on public roads. One major issue is insurer and police access to the vehicles' crash data, and other key issues include seat-belt use, tailgating and jaywalking, the report says.

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CNN
8/16/2018

Subaru is replacing 293 of its 2019 Ascent sport utility vehicles in a recall stemming from welding problems affecting door hinges. The problem occurred because welding robots' software was programmed incorrectly, and only nine of the affected vehicles have been sold, Subaru said.

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Subaru
8/16/2018

Consumers have misconceptions about many details of their insurance policies, according to an insuranceQuotes study that found 62% of respondents didn't know that standard homeowners and renters policies cover items stolen from a vehicle. In addition, 46% of respondents didn't know that homeowners policies typically don't cover damage caused by pests, the study found.

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PropertyCasualty360
8/16/2018

Crews are seeking to prevent the further spreading of the Mendocino Complex fire in California by starting fires to burn vegetation that could serve as fuel. The Mendocino Complex, which consists of two wildfires, expanded to 363,845 acres on Wednesday and was 64% contained, down from 68% the day before.

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Mendocino Complex