Declarations
“As far as we can see, the momentum for the liability lines continues to be as strong as ever. … To the extent you’re seeing any slowing in the momentum of E&S, it’s likely to be property related.”
– W.R. Berkley CEO W. Robert Berkley Jr. told analysts on a conference call to discuss first quarter earnings. Addressing suggestions that the E&S market is, in general, losing momentum, Berkley noted the difference between liability and property lines. There remains opportunity within the property line, but momentum is not what it was last year, he added.
“Our generation will inherit a state overwhelmed by carbon emissions and climate change – with damage to the environment, to marine life, and to our own health – if we can’t start making these changes now.”
– Said Cole Cochrane, policy director of Maine Youth Action, after the group filed a lawsuit, along with the Conservation Law Foundation and the Sierra Club, against the state of Maine to try to force it to reduce carbon emissions in the era of climate change. The lawsuit says the Maine Department of Environmental Protection is under an “existing and ongoing statutory obligation” to reduce emissions and has failed to do so, according to an Associated Press report.
“Crop insurance is an essential piece of the farm safety net, providing farmers with their most important risk management tool as they work to continue providing Americans with the highest quality, lowest cost food supply in the world.”
– Sen. John Hoeven (R-N.D) said in a statement introducing the Federal Agriculture Risk Management Enhancement and Resilience (FARMER) Act, an amendment to the farm bill that would increase premium support for higher levels of crop insurance coverage. Hoeven said the bill would enhance affordability and reduce the need for ad-hoc disaster assistance. In addition to Hoeven, the act is co-sponsored by Sen. Chuck Grassley (R-Iowa) and Joni Ernst (R-Iowa).
“Sargassum is becoming a devastating mainstay in parts of Florida’s coastal communities, particularly in the Florida Keys, where massive blooms continue to recur. … Economically, a ‘severe’ Sargassum event could have more than a $20 million impact in just the Keys alone.”
– Brian Lapointe, principal investigator and a research professor at Florida Atlantic University Harbor Branch, said in a statement. Researchers at FAU are using a $1.3 million grant to see if huge blobs of seaweed can be harvested to help mitigate the economic impact on Florida beaches. The blooms can produce hydrogen sulfide and ammonia, making them harmful to humans and sea life – and discouraging to tourists.
“This fire uncovered a clear truth, which is we have too many short-term rentals owned by too many individuals on the mainland and it is b–––t. … And our people deserve housing, here.”
– Hawaii Gov. Josh Green blurted out during a recent news conference about the Aug. 8 wildfire on Maui, which killed 101 people and destroyed housing for 6,200 families, amplifying Maui’s already acute housing shortage and laying bare the enormous presence of vacation rentals in Lahaina. Short-term rentals are an issue across Hawaii, and the fire has prompted lawmakers to consider bills that would give counties the authority to phase them out.
“This attack was conducted by malicious threat actors, and we continue to work with the law enforcement and multiple leading cybersecurity firms during our investigation.”
– UnitedHealth Group Chief Executive Andrew Witty told CNBC on April 22. UnitedHealth said hackers stole health and personal data of potentially a “substantial proportion” of Americans from its systems in February. The intrusion at its Change Healthcare unit, which processes about 50% of U.S. medical claims, was one of the worst hacks to hit American healthcare and caused widespread disruption in payment to doctors and health facilities.