The collapse of Baltimore's Francis Scott Key Bridge following a collision with a container ship could lead to significant insurance claims, possibly totaling billions of dollars. Besides marine policies, it may trigger various coverages like auto, business interruption, and … [Read more...] about Bridge collapse losses could run into billions – 3/26/2024
Archives for March 2024
Crypto Comes to Life – 3/1/2024
In November 2022, FTX's bankruptcy filing caused a crypto industry crash, leading to skepticism among Americans. However, as of January 2024, Bitcoin and Ethereum prices surged, marking the end of the "crypto winter." Notably, the SEC's approval of spot Bitcoin ETFs in January … [Read more...] about Crypto Comes to Life – 3/1/2024
Gov. Youngkin can protect Virginians from higher auto insurance costs by vetoing Senate Bill 256 – 03/25/2024
This Op-Ed from Dr. Robert Hartwig highlights the new litigation favoring bill in Virginia. The passage of SB 256 by the Virginia General Assembly during a period of inflationary pressure raises concerns about its potential impact on auto insurance premiums. The bill introduces a … [Read more...] about Gov. Youngkin can protect Virginians from higher auto insurance costs by vetoing Senate Bill 256 – 03/25/2024
Why the CAT bond market is booming right now – 3/13/2024
In 2023, investors saw remarkable returns of nearly 20% from catastrophe bonds. These bonds, issued by insurers, aim to bolster capital reserves for potential catastrophic events. Robert Hartwig, a risk management professor at The University of South Carolina, emphasized the … [Read more...] about Why the CAT bond market is booming right now – 3/13/2024
A Hidden Crisis In US Housing – 3/5/2024
This article from Bloomberg analyzes the dire repercussions of climate change on California's insurance sector. With escalating wildfires and private insurers withdrawing from high-risk zones, the state faces an imminent financial crisis. South Carolina's own, Robert Hartwig … [Read more...] about A Hidden Crisis In US Housing – 3/5/2024