PCI: Many overlook April 20's marijuana-related driving risk | Southwest engine failure prompts FAA to require inspections | Aon Benfield: Alternative reinsurance capital grew about 10% in 2017
April 19, 2018
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PCI: Many overlook April 20's marijuana-related driving risk
In a PCI survey, 68% respondents say they see no heightened driving risk on April 20, which is National Weed Day, while a study found the likelihood of traffic deaths to be 12% higher after 4:20 p.m. on that day than a week earlier or a week later. The US needs a "sustained public awareness campaign" about the risks of marijuana-impaired driving, and the states and federal government should pursue investment and research in testing drivers for such impairment, PCI's Robert Gordon writes.
Sioux City Journal (Iowa)/Tribune News Service (4/19),  Business Insurance (tiered subscription model) (4/18) 
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Industry News
Southwest engine failure prompts FAA to require inspections
Southwest engine failure prompts FAA to require inspections
(Dominick Reuter/AFP/Getty Images)
The Federal Aviation Administration will direct airlines to conduct ultrasonic inspections of about 220 jet engines within six months. The order comes after the explosion of a Southwest jet's engine, which led to one passenger's death and which stemmed from metal fatigue that caused a fan blade to break apart from its hub.
Reuters (4/19) 
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Aon Benfield: Alternative reinsurance capital grew about 10% in 2017
Alternative reinsurance capital expanded by nearly 10% in 2017 to $89 billion, outpacing the 2% growth in traditional reinsurance capital, according to Aon Benfield's April Reinsurance Market Outlook. Continued growth is likely in 2018, Aon said.
Artemis (4/16) 
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Catastrophic Risk
Western Okla. wildfires destroy homes, leave 2 dead
Wildfires continue to burn in western Oklahoma, destroying dozens of homes, with one fire torching an estimated 283,000 acres and being only about 3% contained Wednesday night. Rain is likely in the area Friday.
The Oklahoman (Oklahoma City) (4/19) 
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Blackout hits Puerto Rico after transmission line damaged
An excavator that knocked down a transmission line Wednesday cut power throughout Puerto Rico, causing major disruption to traffic and businesses, and it could take as long as 36 hours to restore power completely. Workers are looking into why a backup breaker didn't kick in when the outage began, a glitch that prompted the island's electrical grid to shut down as a protective measure.
The Associated Press (4/18) 
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Skyscrapers raise earthquake-safety concerns in San Francisco
Skyscrapers raise earthquake-safety concerns in San Francisco
(Justin Sullivan/Getty Images)
Experts warn that San Francisco needs stronger building codes to protect against earthquake damage, particularly with regard to skyscrapers that might not be equipped to withstand powerful seismic activity. A California State Assembly committee last week advanced a bill that would require new buildings to be equipped for "functional recovery" after an earthquake occurs.
The New York Times (tiered subscription model) (4/17) 
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Northern Mont. deals with flooding as snow melts
The melting of snowfall that neared or surpassed record amounts in northern Montana has caused rivers and streams to flood roads and fields and prompted evacuation orders in one town. Ohio, meanwhile, has received a presidential disaster declaration for flood damage that affected 18 counties in February.
The Associated Press (4/18),  The Plain Dealer (Cleveland) (4/18) 
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Cyberwatch
FCC takes step toward crackdown on gear seen as security threat
Federal regulators are moving to prevent vendors whose gear and services purportedly pose security threats from doing business with companies that receive broadband subsidies. The Federal Communications Commission on Tuesday sent out a rule for comment without specifying a country, but China is thought to be the target of the move.
The Hill (4/17),  The Wall Street Journal (tiered subscription model) (4/17) 
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House panel approves bills to secure energy infrastructure
A House Energy and Commerce subcommittee on Wednesday approved four bills designed to secure energy infrastructure from cyberattacks. The bills would create new programs to protect electric grids and pipelines and would enhance the Department of Energy's cybersecurity focus.
The Hill (4/18) 
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Association News
Register for the Hail Fraud Prevention Workshop, May 3 in Billings, Mont.
Join the Montana Commissioner of Securities and Insurance and PCI from 1 p.m. to 4 p.m. on May 3 in Billings to learn how to detect and prevent contractor fraud after damaging hail storms. Learn the early signs of trouble from homeowner and fraud investigators. The fee is $20 for three hours of continuing education for agents and consultants.
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Register for the Global Insurance Symposium, April 24 to 26 in Des Moines, Iowa
Focusing on technology, policy and innovation, the 2018 Global Insurance Symposium brings insurance and technology leaders from around the globe to Des Moines, Iowa. This year's event features a full agenda of renowned keynote speakers and panelists, interactive demonstrations, and speed networking. Participants will also be treated to two evening social events at Des Moines' most beautiful venues. Throughout the three days, attendees will observe demonstrations from eight startups participating in the Des Moines-based Global Insurance Accelerator's 2018 cohort. Attendees from three continents will be in attendance.
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The sea does not reward those who are too anxious, too greedy or too impatient. ... One should lie empty, open, choiceless as a beach -- waiting for a gift from the sea.
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