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...Home insurance is becoming increasingly unaffordable in areas such as California and Australia, as global warming has made storms, floods and wildfires more frequent and severe....
...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...Last month, California’s insurance commissioner announced a series of executive actions intended to stabilise the local market....
...One of Greensill’s major clients was GFG Alliance, the metals group of Sanjeev Gupta, which had borrowed $5bn from Greensill Capital....
...Shah’s previous business Health IQ, a life insurance broker that used AI, filed for bankruptcy last year after rising interests hit its ability to meet debt payments....
...A string of big home insurers have halted new business in California, for example, in response to a surge in extreme weather losses....
...Is Napa Valley quantitatively important to California wine? Absolutely not. The volume of wine it produces is just four per cent of the total. But in terms of image and prestige, it is vital....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...The Net-Zero Insurance Alliance is a UN-convened body that commits insurers and reinsurers to reducing greenhouse gas emissions tied to their underwriting, as part of a finance sector initiative led by former...
...And it has plans to pursue more: . . . since 2022, the Allstate brand implemented rate increases of 33.3%, which included 16.4% in 2023 and 6.9% in the fourth quarter driven by the recent approvals in California...
...GFG Alliance said it was “not involved in any insurance arrangements which Greensill had in place and any attempt to link us to the Greensill insurance is misplaced.”...
...New Jersey’s problem is too much water to start with — unlike places such as California, which suffer shortages....
...She has preliminary data from more than 30 sites across California “showing average increases in soil carbon of 20 per cent, over a three-year period of implementing regenerative management”....
...The reinsurance industry says it cannot currently price the type of localised risk that is pushing up home insurance costs and leading to reduced coverage in states like California....
...While big insurers’ attempts to collaborate on climate action have met political opposition — sparking a flurry of exits from the Net-Zero Insurance Alliance — any tilt towards impact investing in their...
...Several big US insurers, including State Farm and The Hartford, have paused their underwriting of new home policies in the state of California....
...The group, the Alliance of Motion Picture and Television Producers, said the deal included new royalties for streaming programmes and “consent and compensation protections” covering the use of AI....
...Ranchers from New York state to California have been some of the projects’ first beneficiaries....
...This includes looking at how nature-based adaptations such as better forest management or the restoration of salt marshes can reduce wildfire or flood risk, argues Dave Jones, a former California insurance...
...The Big Read Earlier this week, Knight Insurance Group, one of a handful of companies owned by Los Angeles-based subprime auto loan billionaire Don Hankey, put up the $175mn bond for Donald Trump....
...For Garland, a Texas-California alliance would be perfectly plausible if a president had become a fascist autocrat....
...But it described the accident as “an exceedingly rare event” that had not been included in any of the scenarios outlined by regulators or insurance industry bodies, nor come up in its “millions of miles...
...The PE insurance company subsidiaries sell annuities, that is, contracts by which individuals exchange a lump sum for a certain level of income over a certain period of time, sometimes the rest of the individual...
...part of the military alliance....
...(One alliance implausibly unites Texas and California.) Amid the careful fiction, the film can’t quite resist a crafty wink....
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