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...due to fire-safety issues....
...Insurance prices are surging as companies look to repair their margins after years of significant losses from severe weather to insured properties, exacerbated by inflation in rebuild costs....
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...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...That can cause safety concerns as even small dings to battery packs can destabilise cells, potentially causing fires and even explosions....
...Better building standards could curb rising losses. More investment in climate change mitigation could do the same....
...the company in as many years....
...Laura Hughes, its manager for general insurance policy, said the government should “guarantee that flood prevention and resilience measures are considered in all planning decisions and building standards...
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...supply chain finance company had should pay out....
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...Any new standards would then need to be approved by the organisation’s safety committee....
...The restrictions set out by the Federal Deposit Insurance Corporation on Thursday would apply to any takeover that created a bank with more than $50bn in assets, and increase for any deal above $100bn....
...By contrast, the amount paid in claims during the quarter was up 11 per cent, as insurers paid out to cover fire, theft, weather, water leaks, and other events....
...Insurance companies have pushed up the costs of protecting homes, cars and valued possessions from loss and damage....
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...When a bank fails, the least cost standard requires the FDIC to sell the bank to the highest bidder irrespective of the impact on competition....
...Rescue operations were being carried out “on the surface of the water, subsurface” and “on the deck of the ship itself”, said Baltimore fire department chief James Wallace....
...The Federal Deposit Insurance Corporation on Thursday said the number of weak US banks had risen by eight to 52 in the final three months of 2023, the biggest jump since the demise of SVB....
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