MUNICH (Reuters) - Forest fires caused by climate change are costing insurers more than ever, with the deadly fire that ravaged northern California the single most expensive natural disaster in 2018, Munich Re <MUVGn.DE> said in its catastrophe report on Tuesday. The California wildfire that devastated the small town of Paradise in November caused losses of $16.5 billion (£12.9 billion), of which $12.5 billion were insured. Worldwide natural disasters caused $160 billion in economic damage in 2018. That was down from $350 billion the previous year, but a number of devastating hurricanes had contributed to the high losses in 2017. Insurers and reinsurers paid out $80 billion for natural disaster claims last year, down from $140 billion a year earlier but almost double the 30-year average of $41 billion, the reinsurer said. Munich Re board member Torsten Jeworrek said that 2018 was marked by several severe natural disasters with high insured losses. "These include the unusual … [Read more...] about Forest fire insurance costs soar
United states fire insurance company claims
SANTA ROSA, Calif. - Construction crews have already put up the frame on Cheri Sharp's new house, but she still questions whether rebuilding was the right choice after California's most destructive wildfire took her old home in wine country nearly a year ago. She has had to dip into retirement savings to cover a $300,000 shortfall in her homeowner's insurance coverage. "We just kind of thought we were taken care of," Sharp, 54, said about her insurance policy. "If I had to do it over again, I'd probably change my mind and move." The wind-whipped wildfire that tore through Northern California in October 2017, killing 22 people and destroying more than 5,500 structures, left many people in Sharp's position: underinsured and having to scramble for money to build a new home on their property. Santa Rosa was the hardest-hit city, with entire neighborhoods burned to ashes. But as of late August, only nine of nearly 2,700 single-family homes lost here had been rebuilt, according to figures … [Read more...] about After California’s wildfires, insurance hardly covers rebuilding
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Nestor Ramos Globe Staff June 26, 2018 When Bernadette Coughlin stumbled and fell in the kitchen at Holy Family Hospital in Methuen last month, she thought the only real damage was to her pride.“I was embarrassed,” said Coughlin, 55. “Have you ever been walking and your foot just gets stuck and you stumble? I didn’t recover, and I went down.”But that clumsy stumble toward the end of her shift cost her a lot more: two broken bones and, eventually, her job. Sodexo, the company that provides food service at Holy Family, fired Coughlin after she reported the injury several days later and the company gave her a drug test. It came back positive for marijuana — the result, she said, of occasional recreational use that had nothing at all to do with her injury. Advertisement “I’ve never, ever been impaired at work,” … [Read more...] about Marijuana use is legal. So why can employers fire people for using off-hours?
WASHINGTON (AP) — President Donald Trump is distorting the truth when it comes to the impact of his administration’s policy regarding separating children from their parents at the U.S. border. He falsely suggests that a newly signed executive order will permanently solve the problem of separations by keeping families together when they are detained for illegally crossing the border and exaggerates the number of immigration judges available to process their claims while they’re held in custody. A growing backlog of claims could mean that people will be held longer in detention until their cases are heard. Among other questionable statements this past week, Trump declares that total denuclearization in North Korea has already begun, repeats misleading claims about the Russia probe and doesn’t tell the full story about the creation of new U.S. jobs and rising wages. A look at some of his statements and the reality behind them: TRUMP: “And ultimately, we have … [Read more...] about AP FACT CHECK: Trump’s skewed claims on immigration, economy
President Trump on Sunday posted a tweet in response to Senate Minority Leader Chuck Schumer’s criticism of the recent North Korea summit.“Chuck Schumer said ‘the Summit was what the Texans call all cattle and no hat.’ Thank you Chuck, but are you sure you got that right? No more nuclear testing or rockets flying all over the place, blew up launch sites. Hostages already back, hero remains coming home & much more!” Trump tweeted.Chuck Schumer said “the Summit was what the Texans call all cattle and no hat.” Thank you Chuck, but are you sure you got that right? No more nuclear testing or rockets flying all over the place, blew up launch sites. Hostages already back, hero remains coming home & much more!— Donald J. Trump (@realDonaldTrump) June 17, 2018Days ago, Trump went after the media over its coverage of his June 12 summit with North Korean leader Kim Jong-un.“So funny to watch the Fake News, … [Read more...] about Trump fires back at Chuck Schumer over North Korea summit criticism