National Flood Insurance Program claims payments totaled $1.2 billion last year, marking the sixth straight year that payouts have exceeded $1 billion, an E&E News analysis found. Data shows that properties outside the 100-year flood zone have accounted for 36% of NFIP claims over the past decade.

Global reinsurance capital rose by 4% to $650 billion last year, a record high, amid a strong showing for traditional capital, according to Aon. A recovery in capital markets, new equity issuance and depreciation of the dollar were the main factors behind the increase, Aon says.

The East Side Coastal Resiliency Project, a $1.45 billion effort to safeguard lower Manhattan against flooding, is underway, New York City Mayor Bill de Blasio said. The project will elevate 2.4 miles of park land and incorporate vegetation and berms as protective features.

Investors are not shying away from bonds backed by offices even though it is still unclear when some employees will return to their workplaces. This year, there have been close to $4 billion of commercial mortgage backed securities tied to office towers in large city centers, according to a Bloomberg analysis.

President Joe Biden said ahead of a second bipartisan discussion with lawmakers on his infrastructure plan he was "prepared to compromise, prepared to see what we can do, what we get together on," as Republican lawmakers have said they want a more modest package than Biden's $2 trillion-plus proposal. Rep. Charlie Crist, D-Fla., said the meeting included discussion of raising the corporate tax rate to a level below the currently proposed 28% to fund the plan.

State and local governments are rushing to put programs in place to distribute billions in federal funds set aside for rent relief. The process of reviewing applications can take weeks, leaving tenants and landlords in a tough spot as they await funds.

Companies in 2021 can no longer think about directors-and-officers insurance the way they have in the past. While the hard market won't last forever, it will exist for the time being. This article provides a guide for risk managers on factors influencing the D&O landscape, best practices and alternative strategies for pricing.

Management liability insurance programs for companies, public or private, are impacted significantly by spinoffs. This Client Alert discusses the considerations for a spinoff as it relates to management liability exposures and insurance.