September 20, 2021
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The Lead
The Biden administration has announced a plan to address heat-related illness, with White House climate adviser Gina McCarthy noting that "heat stress is a significant, real threat that has deadly consequences." OSHA is preparing to release a rule that will focus on days when the heat index surpasses 80 degrees Fahrenheit, and the administration will also broaden the scope of the Low Income Home Energy Assistance Program.
Full Story: The Associated Press (9/20),  BNN Bloomberg (Canada) (9/20) 
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What banking CFOs need to know in 2021
A year of challenge and change. Unprecedented opportunities to grow the balance sheet without incurring significant operating costs.
How banking executives are forging the future.
Industry Update
Recent medical price inflation has been spurred by Medicare rule changes, although these changes could be reversed in the future, says Francesco Renna, co-author of a report by the National Council on Compensation Insurance. Medicare rules are significant for workers' compensation, with Renna noting that "workers' compensation fee schedules for physician and hospital services in many states are directly tied to Medicare reimbursement rates."
Full Story: PropertyCasualty360 (free registration) (9/20) 
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Data on 17 major property casualty insurers in Florida shows 4,313 new litigated claims in August, down 35% from July for the sharpest monthly percentage decrease in nearly four years, according to CaseGlide. Still unclear is how new litigated claims might be affected by Florida Senate Bill 76, which added restrictions for roofing contractors and revised the state's one-way attorneys' fee statute, says CaseGlide CEO Wesley Todd.
Full Story: Insurance Journal (9/17) 
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Consumers in emerging markets appear more interested in purchasing new forms of insurance than those in developed markets, according to an EY study. The study notes that those in emerging markets were more likely to experience lost income or to be forced to dip into their savings as a result of the pandemic.
Full Story: Insurance Business America (9/15),  Reinsurance News (9/16) 
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About 40% of 65-year-olds will need little or no long-term care during their lifetimes, according to a study from the Center for Retirement Research at Boston College. One-quarter of them will need more than three years of significant care, while the rest will need moderate help for anywhere from one to three years, the study found.
Full Story: CNBC (9/17) 
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Policy Watch
NHTSA inquiry focuses on air bag inflators in 30M vehicles
(Joe Raedle/Getty Images)
An engineering analysis by the National Highway Traffic Safety Administration is looking into possibly defective Takata air bag inflators in 30 million vehicles from model years 2001 to 2019, a government document shows. NHTSA says further evaluation is necessary to determine the safety of the air bag inflators, which contain a desiccant, or drying agent.
Full Story: Reuters (9/19) 
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National Transportation Safety Board Chair Jennifer Homendy said Tesla needs to address "basic safety issues" before letting customers access upgraded Full Self-Driving Capability tools -- which do not actually enable full automation -- for navigating cities. Meanwhile, the NTSB said it will investigate the recent deadly crash of a Tesla Model 3 in Florida, and local police say whether Tesla's Autopilot driver-assistance system was in use at the time of the crash is unclear.
Full Story: The Wall Street Journal (9/19),  Reuters (9/17) 
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Operational Risk
Chris Inglis, the US cyberdirector, says the country could fire "cyberbullets" at hackers, possibly without making public announcements. Inglis also points out that specific attacks would not solve the problem and that "a larger set of initiatives" would be necessary.
Full Story: Bloomberg (9/14) 
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Regional Spotlight
The damage caused by Hurricane Ida could draw attention -- and ultimately bring disaster relief -- to southwest Louisiana residents still dealing with the fallout of last year's Hurricane Laura and Hurricane Delta, writes Melinda Deslatte. The White House's request for $2.3 billion in disaster recovery block grant aid could be applied to last year's storms, although it still needs congressional approval.
Full Story: The Associated Press (9/19) 
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IASA's Career Center provides recruiters and job seekers with candidates and opportunities to help them meet their professional goals. Are you a recruiter or an HR professional seeking top industry talent? Are you an insurance industry professional seeking your next role? Our Career Center is a great resource for you. Explore your next move or hire here.
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Designed to accelerate insurance professionals' development, this educational hub provides on-demand, asynchronous content across all media, including videos, presentations and more. Need to earn CPEs? Want to stay up to date with best practices? Design your custom learning experience today. Learn more.
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A man who dares to waste one hour of time has not discovered the value of life.
Charles Darwin,
naturalist, geologist, biologist
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About IASA
For almost 100 years, IASA has served as the trusted source for knowledge and innovation that guides the community of insurance professionals. Our community roots, consisting of thousands of members and insurance constituents, in addition to 24 national chapters, runs deep. Our core values and beliefs have always focused on education and connection, and we will continue to drive:
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