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ECB Amends Bank Capital Reviews to Reflect Extreme Weather Risks

by lpiccitto | Jun 17, 2025 | Uncategorized

The European Central Bank is embedding climate risk into regular reviews of how well banks can absorb losses, marking a new chapter in its supervisory approach. The intention is to “incorporate, more decisively and in a more business-as-usual way, climate …

New Ratings Firm to Track Climate Hit on Infrastructure Assets

by lpiccitto | Jun 17, 2025 | Uncategorized

A climate ratings firm created at French business university EDHEC has become the first to estimate projected financial losses for thousands of infrastructure assets under various climate change scenarios, its founder and chief executive said. Better understanding the...

Two Tankers Catch Fire After Collision Near Strait of Hormuz

by lpiccitto | Jun 17, 2025 | Uncategorized

Two tankers collided in waters off the United Arab Emirates and caught fire in the early hours of Tuesday, rattling global oil and shipping markets that have been closely monitoring navigation in the region since Israel began strikes on Iran …

APCIA Warns Michigan Auto Insurance Bill Could Destabilize Market, Increase Costs

by lpiccitto | Jun 17, 2025 | Uncategorized

A Michigan lawmaker has proposed legislation that would mandate auto insurance premium reductions of at least 10% on any new or renewed policy, a bill that the American Property Casualty Insurance Association (APCIA) says would destabilize the state’s market. SB...

St. Louis Waives 25% Holdback Rule for Property Claims From May 16 Tornado

by lpiccitto | Jun 17, 2025 | Uncategorized

St. Louis Mayor Cara Spencer signed an executive order to waive a 25% holdback of insurance payouts for property damage claims related to the May 16 tornado that damaged at least 10,000 properties in the city. The order instructs the …

Des Moines, Iowa Officials Issue Warning Over High Levels of Nitrates in Drinking Water

by lpiccitto | Jun 17, 2025 | Uncategorized

Local officials warned more than half a million Iowans in the state’s capital city and suburbs on Thursday that near-record level of pollutants in its rivers could make drinking water dangerous if immediate steps are not taken to reduce demand. …
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