Insurance industry feeling pressure of more frequent natural disasters

Nordstrom
layoff employment Insurance Industry - Alberta, Canada

Severe natural disasters are causing problems for the insurance industry Severe natural disasters have been being reported in greater frequency around the world. Recent storms in the U.S. have put major strain on the insurance industry, but this is not a trend unique to the country. The Insurance Bureau of Canada has taken note of the increasing severity of weather-related disasters and has announced that it believes such disasters will become significantly more frequent in the coming years. Whether the insurance industry is capable of withstanding a high frequency of…

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New Florida law aims to address homeowners insurance concerns

Logan B.
Florida Homeowners Insurance

Florida’s homeowners insurance market continues to pose significant risks Citizens Property Insurance has been Florida’s last resort for homeowners insurance for several years. Property owners throughout the state rely heavily on the state-run insurance organization in order to receive the coverage they need. The homeowners insurance market in the state has been somewhat turbulent for years due to the disaster prone nature of Florida. Because Citizens Property Insurance accounts for the majority of homeowners insurance policies in the state, it is also liable for the majority of the financial burden…

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Workers compensation omission leads to massive fine for Jim Carrey

Julie Campbell
Jim Carrey - workers compensation insurance

The actor failed to obtain the insurance for the employees of his art studio and faces a $72,000 fine. Actor and comedian, Jim Carrey, has been fined $72,000 for his failure to obtain workers compensation insurance coverage for the employees who work at his art studio in New York. As the founder of the Church of FFC studio, Carrey is being sued by the New York state WCB. According to reports, the 51 year old celebrity founded the art studio in 2011 and is now the recipient of a lawsuit…

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Heavy Rains Cause Record Flooding and Landslides across Central Europe: AIR Worldwide

Guest Author
Europe insurance industry Flooding and Heavy Rains

According to catastrophe modeling firm AIR Worldwide, Central  Europe has been inundated during the past several weeks with heavy and relentless rain, which has resulted in some of the worst floods seen in the area in more than  70 years. The floods have reached record levels, particularly in Germany, Austria, and the Czech Republic. Switzerland, Hungary, Slovakia, and Poland are also  affected. The heavy rains are resulting in landslides in many mountainous areas, while in the floodplains, which were already saturated due to rains in previous weeks, river levels rose…

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M6.2 Earthquake Strikes Taiwan Late Sunday Night: AIR Worldwide

Guest Author
Taiwan Earthquake

According to catastrophe modeling firm AIR Worldwide, a magnitude 6.2 earthquake struck central Taiwan Sunday night June 2, 2013, at 9:43 p.m. local time (13:43 UTC), in a sparsely populated region of Nantou County just seven kilometers (4.3 miles) northeast of a similar rupture only two months ago (M6.0 on March 27). The epicenter of the Sunday night quake was located at 23.794oN, 121.082oE, by the United States Geological Survey and estimated to be at a depth of 20 km. AIR does not expect significant insured losses from this event…

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