Key Coleman discusses the impact climate change could have on the value of insurance companies’ investment portfolios. Climate change from the burning of fossil fuels has many implications for the US economy. One consideration that deserves greater attention is the impact climate change could have on the value of insurance companies’ investment portfolios. Given that … [Read more...] about Stranded Assets from Climate Change – Should Insurance Companies be Alarmed?
The reinsurance market has the potential to serve as a bellwether for climate change. Yet despite the frequency and severity of catastrophe losses linked to climate change, capacity remains plentiful. Read the full article here - http://www.rmmagazine.com/2019/04/01/will-climate-change-impact-reinsurance-rates/ … [Read more...] about Will Climate Change Impact Reinsurance Rates?
Adam Smith of the National Oceanic and Atmospheric Administration (NOAA) crunches the data, which reveals a worrisome unprecedented trend of billion-dollar weather and climate disasters. Read full article here - https://www.climate.gov/news-features/blogs/beyond-data/2010-2019-landmark-decade-us-billion-dollar-weather-and-climate … [Read more...] about 2010-2019: A Landmark Decade of U.S. Billion-Dollar Weather and Climate Disasters
Kennedys provides a read out of what transpired at the December UN Climate Change Conference. Read full article here - https://www.kennedyslaw.com/thought-leadership/article/cop25-the-un-climate-change-conference-madrid-spain/ … [Read more...] about COP25: The UN Climate Change Conference, Madrid, Spain
Genes or the environment? Advances in genomics science provide a new legal framework for a genetic defense to toxic tort claims. Legacy (re)insurers holding or acquiring toxic tort liabilities may be relying too heavily on outdated legal strategies to defend their policyholders. In our view, millions (perhaps billions) of dollars might be saved if reinsurers … [Read more...] about The Revolution in Analysis of Cancer Causation and Genomics Liability
It was a record breaking attendance at the AIRROC Spring Membership Meeting on March 5 & 6. Hosted at the offices of Norton Rose Fulbright in New York City, members held meetings and also heard from great education panels. Read on for highlights for this particular session. Doing the right thing is easy . . . isn’t it? Not always. When it comes to environmental … [Read more...] about Do the Right Thing
It was a record breaking attendance at the AIRROC Spring Membership Meeting on March 5 & 6. Hosted at the offices of Norton Rose Fulbright in New York City, members held meetings and also heard from great education panels. Read on for highlights of this particular session. Texas petrochemical engineer Phil Watters of Rimkus and Swiss Re's Claims Vice President Mike … [Read more...] about Oil & Gas Transport Environmental Risks for Pipelines, Motor, Railways, Port Operations, & Marine
AIRROC’s Boston Regional this year was co-hosted by Locke Lord and Pro. Held in the Prudential Center, the attendees learned from a diverse faculty and were treated to a keynote from Elizabeth Dwyer, Deputy Director and Superintendent of Banking and Insurance for Rhode Island. We also had an insightful presentation on Hurricane Maria and its effects on Puerto Rico, a report out … [Read more...] about Bringing it in Bean Town: Boston Regional Education Day
In almost 40 years of dealing with CERCLA liability claims, we have learned a thing or two. In November of last year, A.M. Best opined that environmental exposures were “97% funded” at $41 billion in reserves. This is good news compared to 2003, when A.M. Best viewed environmental losses as underfunded by 45% based on a projected ultimate loss of $56 billion. But then, as now, … [Read more...] about Cue the Mediator: Hiring a Mediator to Save Costs in Superfund Cases
In 2014, hydraulic fracturing (“fracking”) remained a hot national topic. Often making headlines, fracking also made its mark in litigation where key battles wound their way through the courts. Reviewing just some legal developments confirms the industry faces unique, sometimes prejudicial, challenges despite continued growth. For example, the Eighth Circuit’s decision in … [Read more...] about Hydraulic Fracturing: A Retrospective of Key Legal Disputes in 2014 and Predictions for the Future