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☆ Global natural catastrophe 2022 insured losses seen at $112 bln-broker
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +1 min

LONDON, Dec 30 (Reuters) - Global insurance losses for natural catastrophes are projected to reach $112 billion in 2022, reinsurance broker Guy Carpenter said on Friday, driven by the impact of Hurricane Ian which hit Florida earlier this year. Flood and hail in Europe, Australian floods and severe storms in the United States also contributed to the total, Guy Carpenter said in a statement. Hurricane Ian and other natural catastrophes caused an estimated $115 billion of insured losses so far this year, well above the 10-year average of $81 billion, reinsurer Swiss Re (SRENH.S) estimated earlier this month. ..the sector has experienced", Guy Carpenter said, adding that the process had been "extremely late". The projected losses do not include the impact of the most recent December natural catastrophes, Guy Carpenter added.

☆ Global natural catastrophe insurance losses seen at $112 bln for 2022
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: 1 min

LONDON, Dec 30 (Reuters) - Global insurance losses for natural catastrophes are projected to reach $112 billion in 2022, reinsurance broker Guy Carpenter said on Friday, driven by the impact of Hurricane Ian which hit Florida earlier this year. The projected losses do not include the impact of the most recent December natural catastrophes, Guy Carpenter said in a statement. Reporting by Carolyn Cohn; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ The U.S. passed a historic climate deal this year — here's a recap of what's in the bill
▼ + stars: | 2022-12-30 | by ( Emma Newburger | ) www.cnbc.com time to read: +11 min

The IRA's provisions have major implications for clean energy and manufacturing businesses, climate startups and consumers in the coming years. As 2022 comes to a close, here's a look back at the key elements in the legislation that climate and clean energy advocates will be monitoring in 2023. Taking aim at methane gas emissionsSome pumpjacks operate while others stand idle in the Belridge oil field near McKittrick, California. Mario Tama | Getty ImagesThe package imposes a tax on energy producers that exceed a certain level of methane gas emissions. And the bill has a hydrogen production tax credit, which provides hydrogen producers with a credit based on the climate attributes of their production methods.

☆ Ship insurers to cancel war cover for Russia, Ukraine from Jan 1
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, Dec 28 (Reuters) - Ship insurers said they are cancelling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. P&I (protection and indemnity) clubs American, North, UK and West are no longer able to offer war risk cover for liabilities in the region from Jan. 1, they said in recent notices on their websites. The clubs are among the biggest P&I insurers who cover around 90% of the world’s ocean going ships. "The Club's reinsurers are no longer able to secure reinsurance for war risk exposure to Russian, Ukrainian or Belarus territorial risks," it said. Ships typically have P&I insurance, which covers third party liability claims including environmental damage and injury.

☆ DeSantis is often described as 'Trump without the baggage,' but there are plenty of differences between the two Republicans. How they play up their contrasts will decide who wins in 2024, GOP insiders
▼ + stars: | 2022-12-24 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +20 min

DeSantis could end up running for president in 2024, and he's widely viewed as similar to Trump. He's "Trump without the baggage," "Trump with a brain," Trump "without the drama," and "Trump's Mini Me." The pile on is a problem for both men should DeSantis join Trump in the ring for the 2024 nomination contest. "We know what we get with President Trump," he said. In Florida, DeSantis pushed the legislature to limit ballot collection by non-family members.

☆ The Year in Pictures 2022
▼ + stars: | 2022-12-19 | by ( The New York Times | ) www.nytimes.com time to read: +57 min

Every year, starting in early fall, photo editors at The New York Times begin sifting through the year’s work in an effort to pick out the most startling, most moving, most memorable pictures. But 2022 undoubtedly belongs to the war in Ukraine, a conflict now settling into a worryingly predictable rhythm. Erin Schaff/The New York Times “When you’re standing on the ground, you can’t visualize the scope of the destruction. Jim Huylebroek for The New York Times Kyiv, Ukraine, Feb. 25. We see the same images over and over, and it’s really hard to make anything different.” Kyiv, Ukraine, Feb 26.

☆ Rising climate costs to challenge countries, companies in 2023
▼ + stars: | 2022-12-14 | by ( Katy Daigle | ) www.reuters.com time to read: +5 min

Nowhere was this more apparent than at the U.N. climate conference in Egypt, where countries reached a landmark agreement to set up a fund to help poor countries cope with climate-fueled disaster costs. Even Hayhoe and others warning about the dangers of climate change didn't escape censure, with some activists laying into them for flying to conferences or eating meat. As of today, there are 2,176 climate-related lawsuits in play across the world, including 654 filed in U.S. courtrooms, according to the Sabin Center for Climate Change Law at Columbia University. And scientists and economists are making further advances in calculating exactly how much a country's activity may have contributed to climate change – and to specific disasters. With the new year, expect more public anxiety as climate change continues to escalate – and more worry among companies and governments over liability and risk.

☆ Emergency-response technology with a 5G upgrade is having an impact in places like hurricane-battered Florida
▼ + stars: | 2022-12-14 | by ( Clara Mcmichael | ) www.businessinsider.com time to read: +6 min

It's likely to become commonplace that tools used by first responders and police will run on 5G networks. This article is part of "How 5G Is Changing Everything," a series about transformational 5G tech across industries. In June, from a remote farmer's field in Missouri, where cows wandered through the grass, AT&T tested its first 5G drone. Helped along by 5G, new technology designed to speed up disaster response is under development. In the meantime, though, networks and companies say they're continuing to innovate and expect 5G to have a profound impact on disaster response.

☆ Wooden ship from 1800s uncovered on Florida beach after erosion caused by recent hurricanes
▼ + stars: | 2022-12-07 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

Beachgoers and lifeguards discovered the wooden structure, between 80 feet to 100 feet, poking out of the sand over Thanksgiving weekend in front of homes that collapsed into rubble on Daytona Beach Shores last month from Hurricane Nicole. “Whenever you find a shipwreck on the beach it’s really an amazing occurrence. Archaeologists study a wooden structure in the sand in Daytona Beach, Fla., on Dec. 6, 2022. The digging team members went from using shovels to trowels and then their hands as more of the frame was exposed, so as not to damage any of the wood. After the initial discovery two weeks ago, sand from waves reburied the ship’s timbers that had become visible on Daytona Shores Beach.

☆ How to stay safe in an extreme solar flare, where the sun bombards Earth with radiation and magnetic havoc
▼ + stars: | 2022-12-07 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +7 min

Stay safe during a solar storm by preparing to lose power, printing out maps, and staying off planes. What is a solar flare and how do they affect Earth? CMEs primarily affect the magnetosphere, jostling Earth's magnetic field lines in an event called a geomagnetic storm, also known as a solar storm. NASAGetting ready for the possibility of a major solar flare isn't that different from getting ready for any other disaster. If you follow the basics of disaster preparedness, you'll probably be ready for a solar flare.

☆ Wall Street's biggest landlords thought they had a great hedge against inflation. But now these giant homebuyers are getting slammed by rising costs — just like the rest of us.
▼ + stars: | 2022-12-05 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +5 min

Two Wall Street analysts are seeing warning signs for big landlords like Invitation Homes. Raymond James downgraded its rating of Invitation Homes for the first time ever. Single-family rental companies face new challengesHigh interest rates mean that it costs substantially more for single-family rental companies to buy up thousands of homes. In key markets like Texas, Florida, and Georgia, property taxes may increase by 20 to 30% year-over-year, according to Raymond James. According to Carl and Rosivach, Invitation Homes' rent collection rolls are 2% lower than they were pre-pandemic, while on-time payments are 5% lower than they were pre-pandemic.

☆ Hurricane Season Caps a Year of Fewer but Still-Destructive Storms
▼ + stars: | 2022-12-01 | by ( Alyssa Lukpat | ) www.wsj.com time to read: 1 min

One of the two major hurricanes this season, Hurricane Ian barreled from Cuba to Florida and the Carolinas. The 2022 Atlantic hurricane season came to an end on Wednesday, after a historically quiet period gave way to a destructive finale with some of the most catastrophic storms in recent years. The National Oceanic and Atmospheric Administration said there were 14 named storms during the season, which ran from June to November. That is an average amount for a typical season, forecasters say.

☆ Ford CEO surprised by F-150 Lightning backup power popularity. It's a game changer
▼ + stars: | 2022-12-01 | by ( Paulina Likos | ) www.cnbc.com time to read: +2 min

Ford CEO Jim Farley told Jim Cramer that the F-150 Lightning's abilities as a source of backup power for homes and job sites have been a real "eye-opener" for the automaker. After Hurricane Ian, Ford saw a 200% increase in people powering their homes with their F-150 Lightning vehicles. "I believe you have a winner in Ford," Jim said during Thursday's "Morning Meeting" for Investing Club members. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Hurricane Ian was the costliest disaster and the second-largest insured loss on record after Hurricane Katrina
▼ + stars: | 2022-12-01 | by ( Emma Newburger | ) www.cnbc.com time to read: +1 min

Remains of destroyed restaurants, shops and other businesses are seen almost one month after Hurricane Ian landfall in Fort Myers Beach, Florida, U.S., October 26, 2022. REUTERS/Marco BelloHurricane Ian, a category 4 Atlantic hurricane that struck Florida and South Carolina earlier this year, was the costliest catastrophe and the second-largest insured loss on record after Hurricane Katrina in 2005, according to a new report from reinsurer Swiss Re. Ian caused between $50 billion and 65 billion in insured damages after it made landfall in western Florida in late September with extreme winds and torrential rain. Insurance losses from catastrophes were also high, with estimated damages of $115 billion, higher than the 10-year average of $81 billion, the report said. Insured losses from extreme weather events have been rising as climate change triggers more frequent and destructive hurricanes, floods and wildfires, the reinsurance firm said.

☆ After a slow start, the 2022 hurricane season roared in with memorable and destructive storms
▼ + stars: | 2022-11-30 | by ( Jennifer Gray | ) edition.cnn.com time to read: +8 min

CNN —As the hurricane season closes, a handful of blockbuster storms made history after an eerily quiet first half of the season gave false hope. In fact, we didn’t have any named storms from July 3 to August 31, the first time that’s occurred since 1941. One of those storms was Hurricane Ian, which hit land in late September and will go down as the most memorable storm of the 2022 season. “Tropical storms have formed in every month outside of hurricane season, and there have been a few hurricanes, too,” NOAA said. Historically, we’ve seen at least 15 named storms form in the month of December, even all the way up to December 30.

☆ NBCUniversal layoffs are coming in January, with cuts expected mainly in broadcast and cable TV groups
▼ + stars: | 2022-11-28 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +3 min

Layoffs will come in ad sales and marketing in the linear TV business but aren't expected to affect theme parks. NBCUniversal is the latest major media corporation to plan layoffs, according to two company insiders and a third person closely familiar with plans. The axe will fall mainly in ad sales, marketing, and back-end functions at the traditional broadcast and cable business units, but will come division by division, two people said. The company is looking for $1 billion in cuts across the TV networks, according to a Bloomberg report. Paramount Global also conducted layoffs last week, mainly in ad sales in New York and Los Angeles.

☆ Cuba wins China debt relief, new funds
▼ + stars: | 2022-11-27 | by ( Marc Frank | ) www.reuters.com time to read: +2 min

HAVANA, Nov 27 (Reuters) - China has agreed to restructure Cuban debt and provide new trade and investment credits to the beleaguered Caribbean Island nation after a meeting in Peking between the two Communist countries’ leaders. Gil was speaking in an interview with official media traveling with President Miguel Diaz-Canel as he returned home over the weekend from a tour of Algeria, Russia, Turkey and China. Analysts estimate the debt in the billions of dollars, although no official figures are available. Gil said China had agreed to quickly complete a floating dock, wind power and solar energy project, among others. President Diaz-Canel told the official media after talks in Peking that debt was at the top of his agenda with President Xi Jinping who sympathized with the difficulties Cuba was going through.

☆ Florida is running out of homes people can actually afford
▼ + stars: | 2022-11-27 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

She worries she won't be able to find an affordable home in Florida if hers can't be repaired. But with housing inventory levels falling in Florida and demand rising, she is having a difficult time finding a permanent home she can afford. Conditions continue to worsen as natural disasters destroy its limited supply of existing inventory and builders slow down their production of affordable housing. That will make it harder for residents like Ulrich, who plans to remain in Florida, to find safe and affordable housing. Ray says the pullback in affordable inventory has exacerbated the crisis, especially as transplants move into the market.

In September, she and her boyfriend, Jay, moved into their teal 30-foot school bus and started living and working from the road. Now, she works from her converted school bus and makes up to $15,000 per month. CNBC Make It"The goal was to make a couple of hundred dollars every month for gas money," Everdeen, 31, tells CNBC Make It. But that freedom has a lofty price tag: Everdeen and Jay bought their school bus from a government auction for $7,324 in January 2020. They decided to buy the school bus, and started deconstructing its seats and windows to convert it into their 30-foot home.

Lee County suffered none of the state’s 123 Irma deaths. That experience influenced many people’s decisions not to flee Hurricane Ian. “Hurricane Ian is going to be the strongest outreach messaging for southwest Florida ever,” said Gleason, the Charlotte County spokesman. “When you live through it, then that message sinks in deep and forever.”A view of the Matanzas Pass side of Estero Island, home to Fort Myers Beach, Fla. Fort Myers Beach is expected to take years to rebuild. Thomas Simonetti for NBC NewsMichael Yost's two closest friends in Fort Myers Beach drowned in Hurricane Ian.

☆ NBCUniversal layoffs are coming in January
▼ + stars: | 2022-11-22 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +3 min

Layoffs will come in ad sales and marketing in the linear television business but won't affect theme parks. NBCUniversal is the latest major media corporation to plan layoffs, according to two company insiders and a third person closely familiar with plans. The axe will fall mainly in ad sales, marketing, and back-end functions at the traditional broadcast and cable business units, but will come division by division, two people said. Paramount Global also conducted layoffs last week, mainly in ad sales in New York and Los Angeles. NBCUniversal was the first major media firm to conduct a corporate restructure of its business back in 2020.

☆ Florida faces a slew of insurance problems post-Hurricane Ian
▼ + stars: | 2022-11-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFlorida faces a slew of insurance problems post-Hurricane IanDanielle Lombardo, the head of global real estate at Lockton, joins 'Power Lunch' to discuss how Hurricane Ian has exasperated insurance pricing in Florida, the exodus of reinsurers in Florida and ongoing fraud issues in Florida.

☆ Insurance is poised to perform well even amid economic weakness. Here are expert's top stock picks
▼ + stars: | 2022-11-18 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +6 min

Why insurance stocks have outperformed There are a few things that have led to the sector's outperformance this year and that are expected to give it a lift in 2023. Within the group, he's focused on property and casualty insurance and life insurance. Other analysts also see value in so-called multi-line companies, which bundle different kinds of insurance together, and reinsurance, which is insurance for insurance companies. Which stocks insurance analysts like Dwelle's top pick is AIG , which has property and casualty and life insurance. He also recommends the insurance group for investors who want to orient themselves more conservatively and stay away from buying beaten up growth stocks, such as tech names.

The leaks were different from those that forced NASA to call off the first two Artemis launch attempts. As part of the Artemis program, NASA envisions regular missions to the moon to establish a base camp on the lunar surface before the agency eventually ventures to Mars. Martin added that each Artemis launch is expected to cost around $4.1 billion. If successful, Artemis I will be followed by a planned Artemis II test flight, tentatively scheduled for sometime in 2024. After that, NASA said the Artemis III flight will include the first woman and first person of color to land on the moon.

The Orion spacecraft shared its first view of Earth more than nine hours after launch Wednesday morning. NASAThe towering, 322-foot-tall (98-meter-tall) Space Launch System, or SLS, rocket lit its engines at 1:47 a.m. Jim Watson/AFP/Getty Images Before the launch was scrubbed on September 3, spectators wait for the NASA Artemis I rocket to launch at the Kennedy Space Center. Brynn Anderson/AP The NASA launch countdown clock was stopped after the launch was delayed on August 29. Throughout the mission, NASA engineers will be keeping a close eye on the spacecraft’s performance.

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