NYC, Boston ban road travel as huge storm hits

Source: USA Today

Roy
A historic snowstorm blasted its way through the Northeast on Monday, bringing with it havoc, flight cancellations, school closings and worry that up to 3 feet of snow and hurricane-force winds might be on the horizon. Both New York City and Boston took the rare step of banning all forms of travel due to the storm. "It's dangerous out there now. It's only going to become more dangerous,'' New York Gov. Andrew Cuomo said Monday evening as he announced a total ban on travel on any road...

Billion-Dollar Weather and Climate Disasters: Overview

Source: NOAA

Anonym
"In 2014, there were 8 weather and climate disaster events with losses exceeding $1 billion each across the United States. These events included a drought event, a flooding event, 5 severe storm events, and a winter storm event. Overall, these events resulted in the deaths of 53 people and had significant economic effects on the areas impacted. Further cost data and figures on individual events in 2014 will be announced in mid-2015."  The above from the NOAA article .... read more

Insurance industry wins temporary FLSA exemption for insurance adjusters in CRomnibus

Source: Lexology

Roy
Congress's omnibus spending bill effectively created a new exemption to the FLSA's overtime rules for insurance adjusters during the two-year period after a major disaster. Section 111 of the appropriations bill for the DOL directs the agency that the FLSA "shall be applied as if" there is an overtime exclusion for certain workers who are employed to adjust or evaluate claims resulting from or relating to a major disaster. The law defines a "major disaster" as "any disaster or catastrophe...

Review of natural catastrophes in 2014

Relatively low losses from weather extremes and earthquakes, globally and in U.S.

Roy
PRINCETON, N.J.--(BUSINESS WIRE)--The absence of very severe catastrophes and a quiet hurricane season in the North Atlantic meant that losses from natural catastrophes in 2014 were much lower. In North America, overall losses of US$ 30bn and insured losses of US$ 18bn were well below the average values for the last ten years (US$ 77bn and US$ 38bn). At US$ 7bn, the most expensive event globally in terms of overall loss was Cyclone Hudhud in India.

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