A quarter-century after the Northridge earthquake struck California, many cities have taken measures to reinforce buildings, but many still have buildings that remain vulnerable and could collapse during the next big earthquake. "The length of time it's going to take us to recover from a large earthquake -- the economic damage, the social disruption, the loss of business -- will set California back decades," said Tom Tobin, former executive director of the California Seismic Safety Commission.
A federal judge has reached the tentative conclusion that most of Northern California's 2017 and 2018 wildfires occurred because of Pacific Gas and Electric's uninsulated power conductors. The tentative conclusion accompanies the judge's plan under which the utility would inspect its equipment and prune trees near its distribution lines.
A report shows private US property/casualty insurers reached a net underwriting gain of $4.7 billion for the first three quarters of 2018, compared with the $21 billion net underwriting loss the year before. "Insurers are well positioned to provide stability and expanded protection opportunities to consumers in the new year," said Robert Gordon of the American Property Casualty Insurance Association, which produced the report along with Verisk's ISO unit.
The development of self-driving vehicles is proceeding with greater caution in light of last year's deadly Uber autonomous-vehicle crash and multiple incidents involving Tesla vehicles. "What was underappreciated by the industry is how long and how difficult it would be to industrialize the technology," said Karl Iagnemma of Aptiv.
Researchers at Purdue University are assessing vehicle crashes with drones in hopes of clearing scenes faster and thereby preventing secondary crashes. "The technology is so much faster than traditional ground-based measurements and ... can provide high-quality maps, imagery, and models for post-crash investigation by engineers and public safety officials," said Purdue professor Ayman Habib.
Forecasters say a winter storm could bring as much as 30 to 40 inches of snow in parts of the Northeast this weekend, creating adverse travel conditions, while freezing rain is also likely in the central and eastern US.
LegacyShield Solutions founder Dan Pierson shares valuable lessons he has learned from working with top insurance advisors. Top advisors invest in their firm, delegate to their staff, spend time wisely and put their focus on clients, Pierson writes.
The latest federal data showed the number of people enrolled in Medicare Advantage plans reached 22.4 million as of January 2019, up by 6.8% from January 2018. Enrollment increased at a slower rate compared with 2016 and 2017, but many insurers saw significant enrollment growth.
Student loans are undercutting the US housing market by preventing many people ages 24 to 32 from buying, a Federal Reserve study finds. From 2005 to 2014, homeownership in that age range declined to 36% from 45%, according to the study.
The Certified Financial Planner Board of Standards reports the number of certified financial planners increased 3.8% last year to a record 83,106. The number of female CFPs also hit a record high, and the number of African-American and Latino CFPs increased 8%.
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