A Tuesday hearing of the House Financial Services Committee will focus on legislation that would reauthorize the National Flood Insurance Program through 2024. The proposal is emerging after 12 short-term NFIP renewals in the past two years, with the most recent extending the program through September as part of a $19 billion disaster aid measure.
The risk of a major wildfire is present across an estimated 1 billion acres throughout the country, said US Forest Service Chief Vicki Christiansen. The agency is focused on mitigation efforts including brush clearing and prescribed burning as its "national priority is to improve the condition of our nation's forests and grasslands," she said.
National Flood Insurance Program claims payouts in Missouri have exceeded $9 million since deluges started in the spring. The payments so far have gone to a couple hundred property owners, while several hundred additional claims are still being handled and more flooding appears likely.
A section of Rancho Santa Fe, Calif., survived the 2007 Witch Fire because the neighborhood's homes met local building codes and other rules focused on protections against wildfire, current and former officials said. California has since adopted similar codes for new-home construction in state-designated fire hazard areas.
Areas of the Southeast could see as much as two or three times their typical June rainfall totals just from storms that hit the region and caused flooding over the weekend. The system has damaged infrastructure, prompted several water rescues and led to states of emergency in some places.
The California Department of Forestry and Fire Protection said the 410,000-acre Ranch Fire -- which became part of the Mendocino Complex Fire, the largest wildfire on record in California -- was started by accident. No criminal charges are expected against the rancher who sparked the fire by hammering a concrete stake into the entrance of a wasp nest in the ground, a Cal Fire spokesman said.
May 2019 notable global catastrophic events include: Prolonged US severe weather and flooding prompts multi-billion-dollar insurance industry payout; Cyclone Fani makes India landfall and causes estimated $2 billion in direct economic cost; and significant flooding affects parts of the US, Poland, Germany, China and the Middle East. Read more.
Global mergers-and-acquisitions activity reached $3.35 trillion in 2018, its highest level since 2015's record-setting levels. And 2019's first-quarter numbers indicate that this pace will continue. It's little surprise that fintech, digital health (mHealth), e-commerce, robotics and software are among the key areas expected to experience considerable M&A activity in the year ahead. The challenges to M&A success are numerous -- as the landscape evolves, successful deals will rely on greater diligence around intellectual property and cyberrisk. How is technology redefining M&A? Learn more.
Patrick Brady, physicist, after the collision of two neutron stars and potential merger of three black holes
About Aon: Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions.
Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce
volatility and improve performance.
About Aon National Property
Aon’s National Property Practice is a collaborative team of 100 professional property brokers who combine their considerable
experience and expertise to place difficult and demanding risks. In addition to experience with every class of business and
every kind of loss record, Aon’s property brokerage team has significant expertise working with the risk and challenges of
natural catastrophic exposures, business interruption, terrorism and crisis management, risk control and claims advocacy.