Texas-backed insurer's unpaid Ike claims spur concerns post-Harvey | Disaster plan offers wildfire, quake protection for Calif. museum | Commentary: Exceed legal standards in guarding customers' data
December 11, 2017
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Texas-backed insurer's unpaid Ike claims spur concerns post-Harvey
The Texas Windstorm Insurance Association still has about $60 million in claims payments to be made to cities, school districts and a community college for damage from Hurricane Ike, which hit the state in 2008. More than 73,000 claims have been filed since Hurricane Harvey, in August, but laws enacted since Ike limit how policyholders can challenge TWIA claims payouts.
Houston Chronicle (tiered subscription model) (12/10) 
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Recapturing $6.4B in commercial auto premium
Verisk estimates rating misclassification may cost commercial auto insurers $6.4 billion in premium leakage over the next four years. A new report analyzes the causes of the problem and offers remedies to thrive in the commercial auto market. Download the report.
Industry News
Disaster plan offers wildfire, quake protection for Calif. museum
The Getty Center art museum in California is shielded against wildfire and other natural disasters through its design and a risk-mitigation plan it regularly reviews with its insurer. The museum also has taken specific steps to protect its collections from earthquake damage.
Reuters (12/9) 
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Commentary: Exceed legal standards in guarding customers' data
Companies often must adhere to varying state laws on notifying clients of data breaches, but they need to go beyond just the basic requirements to protect their business and its reputation, Ellie Feldman of Wingman Insurance writes. Organizations need the proper level of cyberinsurance, with features such as forensics to identify any problems that have led to a breach, she says.
Risk Management Magazine (12/2017) 
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Catastrophic Risk
Thousands more flee as Calif. wildfires continue to grow
Officials say the Thomas fire in Santa Barbara and Ventura counties in Calif., had burned more than 230,000 acres, destroyed at least 790 structures and damaged 191 as of Sunday night, putting it among the state's five biggest wildfires in modern history. Thousands more people were evacuating or preparing to flee their homes over the weekend.
Los Angeles Times (tiered subscription model) (12/10),  The Associated Press (12/11) 
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Deaths from Maria may surpass 1K in Puerto Rico, analysis finds
Puerto Rico's official death toll from Hurricane Maria is at 64, but data from the island show 1,052 more people than usual died there during the 42 days after the storm's landfall, according to a New York Times analysis. The increase in deaths is in comparison with the average from the same period in 2015 and 2016.
The New York Times (free-article access for SmartBrief readers) (12/9) 
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Storm breaks daily snowfall records in some areas of eastern US
Parts of northern Georgia experienced nearly 1 foot of snow over the weekend, and western North Carolina saw about 10 inches. The storm system also broke records for daily snow totals elsewhere as it made its way through the Northeast.
ABC News (12/10) 
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Anonymous lists government targets for cyberattacks
Hacker group Anonymous last week posted a threat of cyberattacks to the governments of the US and Israel in response to American foreign policy. Among the websites listed as part of the attacks are those of the White House, Social Security Administration and IRS.
International Business Times (12/8) 
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States step up to help with local government security
Michigan's state government has created a pilot program to help local governments identify and address cybervulnerabilities, while Virginia's National Guard has experts who will test local governments' systems. Georgia and Washington state are also working to help local governments stay secure.
Stateline (12/8) 
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Honor is self-esteem made visible in action.
Ayn Rand,
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