NFIP renewal included in spending measure signed by Trump | TRIA extension measure gains Senate panel's approval | Study outlines building-code options amid Fla. coastal flood risk
November 26, 2019
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Risk Management and Insurance
NFIP renewal included in spending measure signed by Trump
President Donald Trump has signed a continuing resolution to fund the federal government until Dec. 20 and renew the National Flood Insurance Program until the same date. The measure gained the president's signature on Thursday, shortly before the deadline for a shutdown and the NFIP's expiration.
The Hill (11/21),  Business Insurance (tiered subscription model) (11/21),  The Hill (11/21) 
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TRIA extension measure gains Senate panel's approval
A bill that would extend the Terrorism Risk Insurance Act for seven years has passed the Senate banking committee. "Broad bipartisan support" in the House and the Senate committee "sends a clear message of the critical role TRIA plays in stabilizing the economy and the overwhelming call to get it done this year," said Nat Wienecke of the American Property Casualty Insurance Association.
Insurance Journal (11/20),  Business Insurance (tiered subscription model) (11/20) 
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Study outlines building-code options amid Fla. coastal flood risk
Florida updated its building code three years ago to mandate that any new construction in coastal areas be elevated by one foot, but a Florida International University study recommends an additional foot of elevation amid the risk of sea-level rise. Other recommendations from the study include adopting a region-specific curve that governs coastal development, with revisions to the curve every five years.
Miami Herald (tiered subscription model) (11/12) 
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NOAA: $30M to go toward preparing coastal areas for more flooding
The National Oceanic and Atmospheric Administration said it will provide $30 million in grants for improving the resiliency of coastal areas against storms and flooding. The money will be used for such projects as rebuilding marsh and wetlands in the New Orleans area.
Thomson Reuters Foundation (11/19) 
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Calif. wildfire warnings, evacuations lack statewide uniformity
Authorities in California have become more proactive in warning residents about wildfires after the widespread destruction of deadly fires in the past few years, but no uniform statewide standard for evacuations is in place. "If you have a plan and are unable to communicate to the population at risk in real time, you don't really have a plan, you have an interesting piece of paper on the shelf," said Dave Winnacker, chief of Contra Costa County's Moraga-Orinda Fire District.
CALmatters (Sacramento, Calif.) (11/15) 
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S. Calif. utility to resolve litigation over wildfires, mudslides for $360M
Southern California Edison has reached a $360 million settlement with 23 public entities that have filed lawsuits against the utility because of wildfires and mudslides over the past two years. "This is the most comprehensive settlement for public entities in a wildfire case in California, probably ever," said John Fiske, an attorney representing public agencies in the case.
Los Angeles Times (tiered subscription model) (11/13) 
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News from Aon
The consumer debt crisis: A vicious circle of finances, stress and health
Around the world, personal borrowing is on the rise. Nearly half of workers in the US carry credit card debt they can't pay off each month. The link between amounts owed and their impact on a country's society and financial health is well known. Yet the shock waves of excessive borrowing are being felt in another crucial part of the broader economy: the workplace. Learn more in Aon's DC and Financial Wellbeing Global Employee Survey.
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