Natural and man-made disasters caused great economic damage across the world in 2018. Although, in comparison to 2017, the cost of destruction was less this year. According to sigma estimates from Swiss Re, the losses were down to $155 billion from $350 billion in 2017. Natural disasters accounted for $146 billion dollars of the destruction […]
A snowstorm hit North Carolina and Virginia this weekend bringing over 20 inches of snow in some areas. The snow, sleet, and frozen rain caused power outages for over 250,000 people. Some areas saw more snow than they see in an entire winter. Asheville, NC, received 11.1 inches of snow, making it their third-biggest recorded […]
Catastrophe modeler RMS has estimated costs from both the Camp and Woolsey wildfires in California. The Camp wildfire shows $7.5 billion to $10 billion in damages while the Woolsey Fire is estimated between $1.5 billion to $3 billion. This brings the total of both wildfires estimated to be between $9 billion and $13 billion in […]
Twenty thousand Google workers protested the company’s sexual harassment policies by walking off the job last week. The walk-off was propelled by a New York Times piece which brought to light a $90 million exit package given to an executive by Google after a sexual harassment accusation. The organizers of the walkout made five demands […]
Lawmakers are trying to find a formula to make the roads safer from distractions. Many states have passed distracted driving legislation, rolled out large campaigns, and enforced penalties for cell phone use while driving. Georgia has been facing one of the largest increases in traffic fatalities over the recent years. Those campaigning for stricter laws […]
Facebook announced a new security breach last Friday, announcing that data had been stolen from 29 million accounts. The cyber attackers took information such as birthdays, employers, religious preference, as well as location check-ins and page follows from 14 million users. The other 15 million users only had their name and contact data taken. Facebook […]
American Excelsior Company, which manufactures biodegradable erosion control blankets in Norwalk, Ohio, has been cited for safety violations resulting in over $213k in penalties. The U.S. Department of Labor’s Occupational Safety and Health Administration found that an employee was injured after a machine continued running while the employee removed product build-up. OSHA fined the company […]
Before Hurricane Florence even reached land, businesses and insurers were prepared for the destruction. Companies closed their doors so employees could evacuate before the hurricane struck. Those with business-interruption insurance policies were able to start the clock on Hurricane Florence claims prior to any damage. Meanwhile, insurers put their teams together and readied them for […]
A pair of ruby slippers worn in The Wizard of Oz have been recovered after being stolen in 2005. The slippers were taken from a display case at the Judy Garland Museum in Grand Rapids, Minnesota. The insured ruby slippers were loaned to the museum by a Hollywood memorabilia collector named Michael Shaw and are […]
Bayer is now facing approximately 8,000 lawsuits against the newly acquired Monsanto. This is compared to the 5,200 lawsuits previously disclosed by Bayer. The lawsuits are against Monsanto’s glyphosate-based weed killers, such as Roundup and Ranger Pro, and their alleged cancer risks. On August 10, Monsanto was ordered to pay damages of $289 million after […]