D.C. judge: Shutdown didn't cause "direct physical loss" | White House, Democrats still deadlocked on aid bill | Ga. governor signs coronavirus liability protections bill
August 7, 2020
PCI SmartBrief
Top Story
A group of restaurants in the District of Columbia did not experience a "direct physical loss" for the purposes of business interruption insurance coverage when Mayor Muriel Bowser ordered shutdowns amid the coronavirus pandemic, D.C. Superior Court Judge Kelly Higashi has held. The decision comes after a Michigan judge in July threw out a restaurant owner's lawsuit seeking business interruption coverage for coronavirus-related revenue losses.
Full Story: Law360 (free content) (8/6) 
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Industry News
Democratic Congressional leaders and Trump administration officials failed to reach agreement Thursday on any major issues regarding the next coronavirus aid bill. Treasury Secretary Steven Mnuchin said the president may issue executive orders to end the wrangling, but indicated possible concessions on some points including funding for local and state governments and first responders.
Full Story: Reuters (8/6) 
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A Georgia bill that provides coronavirus-related liability safeguards for businesses, health care providers, individuals and nonprofits has gained Gov. Brian Kemp's signature. Georgia became the eighth and most populous state to enact such broad protections amid the pandemic, and its law will remain in effect until mid-2021.
Full Story: Bloomberg Law (free content) (8/6) 
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Catastrophic Risk
A survey of flood-control professionals found 85% of them had dealt with urban flooding in areas beyond the Special Flood Hazard Area designated by the Federal Emergency Management Agency, which doesn't "account for these growing areas of risk and impact" resulting from the built environment, said Sam Brody of Texas A&M University. Brody said FEMA has helped his team of researchers create a method to better map flood risk through the use of machine learning and statistics.
Full Story: Insurance Journal (8/6) 
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Legislation filed in the Senate would give the US Forest Service the authority to conduct harvesting and burning activity in Western states with eased requirements for environmental review and public comment. The measure also would allow homeowners access to funding for fire-resistant roofs and siding.
Full Story: The Missoula Current (Mont.) (8/5) 
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Lake Michigan's rising water levels are putting waterfront homes at risk, causing decks and staircases to collapse into the water in some cases. Some homeowners on the lake are spending hundreds of thousands of dollars on protective measures such as building steel barriers and placing boulders as a shield against waves.
Full Story: The Wall Street Journal (tiered subscription model) (8/6) 
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The Office of the Comptroller of the Currency fined Capital One Financial $80 million for failure to prevent a 2019 cyberattack that compromised the personal data of about 106 million card applicants and customers. The regulator said the bank failed to adequately evaluate risks before relocating the data to the public cloud.
Full Story: The Wall Street Journal (tiered subscription model) (8/6) 
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President Donald Trump issued executive orders that would prohibit TikTok and WeChat from carrying out transactions with US customers unless they are sold by their Chinese parent companies within 45 days. Shares in leading Chinese technology companies plummeted following the orders.
Full Story: The Associated Press (8/7),  Financial Times (subscription required) (8/7) 
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Researchers describe hacking of Mercedes-Benz vehicle
(Bill Pugliano/Getty Images)
Researchers participating in an online security conference described how they were able to remotely open the doors and start the engine of a Mercedes-Benz E-Class car by gaining access to a root shell of the telematics control unit. The 19 vulnerabilities cited by the Sky-Go Team researchers have been fixed.
Full Story: TechCrunch (tiered subscription model) (8/6) 
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There is no such thing as failure, there's just giving up too soon.
Jonas Salk,
virologist, medical researcher
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