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Hurricane Florence Insured Losses Could Reach $4.6B

Hurricane Florence’s winds and storm surge caused $1.7 billion to $4.6 billion in insured losses along the U.S. Southeast coast, according to an estimate from Verisk Analytics Inc.’s catastrophe risk modeler AIR Worldwide. That doesn’t include the impact of record … Source: Claims Journal

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Business News: The Carlyle Group, Next Insurance, PCS

The Carlyle Group to Become Majority Investor in Sedgwick in $6.7B Transaction Sedgwick, a global provider of technology-enabled risk, benefits and integrated business solutions, announced today that affiliates of funds managed by The Carlyle Group (NASDAQ: CG) have agreed to … Source: Claims Journal

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Plan to Save Road Could Flood South Carolina Town’s Homes

Two years ago, from Hurricane Matthew and in 1999, from Hurricane Floyd, floodwaters came close to entering Joe Holmes’ house in South Carolina, but he dodged those bullets. Now, with Florence, he doesn’t feel so lucky. He worries the Waccamaw … Source: Claims Journal

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Hurricane Rating System Fails to Account for Deadly Rain

When meteorologists downgraded Hurricane Florence from a powerful Category 4 storm to a Category 2 and then a Category 1, Wayne Mills figured he could stick it out. He regrets it. The Neuse River, normally 150 feet away, lapped near … Source: Claims Journal

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Apps Like Waze May Not Steer Drivers Away From Disaster

Navigation apps like Waze are trying to help motorists avoid hurricane flooding. But can people really rely on their smartphones to steer themselves out of a disaster zone? Amid heavy rain from Florence, some smartphone or in-car map directions in … Source: Claims Journal

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Shortage Has Trucking Industry Considering Younger Drivers

A nationwide shortage of truckers has some industry officials and national lawmakers supporting a plan to allow 18-year-olds to become long-haul drivers, while others in the industry say it’s a bad idea that will decrease safety on the nation’s road. … Source: Claims Journal

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