Monthly Archives: <span>June 2020</span>

Minneapolis Reform Recommendations Include Police Liability Insurance Mandate

Several advocacy groups presented their own recommendations to reform law enforcement practices in Minneapolis, a day after the majority of the City Council voiced support for abolishing the police department entirely in the wake of George Floyd’s death. Minnesota’s Council …

Dam Failures Cause $200M in Damage; Michigan Seeks Disaster Declaration

Michigan Gov. Gretchen Whitmer is requesting a federal disaster declaration for the Midland area, where a failure of two dams destroyed 150 houses and caused more than $200 million in damage. Under a disaster declaration, Whitmer said she hopes to …

Oil & Gas Companies Seek More Insurance for Claims Linked to Bankruptcies

The U.S. oil and gas industry is paying a hefty price to protect its top brass against potential bankruptcy and investor lawsuits. Oil companies are shelling out as much as 75% more to renew insurance liability coverage for directors and …

Insured Losses from Storm Cristobal Estimated at $150 Million

Catastrophe modeling firm Karen Clark & Company (KCC) said on Wednesday it expects insured losses of close to $150 million from tropical storm Cristobal. Cristobal is the third named storm to form and impact the United States coast during this …

Chief Risk Officers Believe U.S. Coronavirus Losses Could Top S&P’s $15-$30B Estimate

Analysts for Standard & Poor’s Global Ratings shared a view that U.S. underwriting losses from COVID-19 would fall in the $15-$30 billion range. However, risk officers speaking at a rating agency conference last week said the estimate is light. S&P …

Sick Workers Frustrated by Amazon’s Automated In-House HR

Tony Banks told Amazon.com Inc. right away when he tested positive for Covid-19. More than a month later, he’s on the mend, but struggling with fatigue and shortness of breath that makes most physical activity feel like he’s just sprinted …

After 2019 Floods, Boaters Welcome ‘Peace’ of Missouri River

The sunsets are still there. So are the eagles. And the deer. Now, with access to the Missouri River mostly open in the Omaha metro area, the boaters, birders, anglers and nature lovers are back, too. The reopening of Omaha’s …

U.S. Safety Board Says Current Air Cargo Safety Rules for Lithium Batteries Pose Danger

The U.S. National Transportation Safety Board (NTSB) on Monday urged strengthening air cargo shipping requirements for prototype and low-production lithium-ion batteries after a 2016 FedEx delivery truck fire in Canada. NTSB official Robert J. Hall said existing rules pose a …

Claims Startup Betterview Attracts $7.5M in Financing Round From Guidewire, Others

Startup Betterview raised $7.5 million in new funding to fuel expansion of its artificial intelligence technology that helps property/casualty insurance carriers spot and manage property risk. ManchesterStory led the round, which brings the insurtech’s total venture capital tally to $17 …

Court Blocks U.S. Sale of Dicamba-Based Herbicide by Bayer, Rivals

A U.S. appeals court has blocked Bayer AG from selling an agricultural weed killer in the United States, the latest setback for a business already fighting an expensive legal battle over another product. A three-judge panel of the 9th U.S. …