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Texas County to Spend $20M on Harvey-Flooded Home Buy Out

County officials in the Houston area have decided to spend $20 million to purchase more than 200 homes flooded during Hurricane Harvey. The Harris County Commissioners Court voted Tuesday to use the funds to speed up the buyout process, the … Source: Claims Journal

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Federal Regulators Remove AIG From Tougher Oversight

A panel of federal regulators has voted to remove insurance giant American International Group from the tougher government oversight that had been imposed on the company in the wake of its near collapse in 2008. The Financial Stability Oversight Council … Source: Claims Journal

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Switzerland Tests Drone Delivery in Urban Areas

Drones will help deliver toothbrushes, deodorant and smartphones to Swiss homes this fall as part of a pilot project, the first of its kind over a densely populated area. The drones will take items from a distribution center in the … Source: Claims Journal

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Hurricanes Reveal Need for More Catastrophe Adjusters

Back to back hurricanes coupled with retiring, experienced personnel has created a tight adjuster job market. From emails to online jobsites, there’s no shortage of firms advertising jobs for cat adjusters in the aftermath of Harvey and Irma. A recent … Source: Claims Journal

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HSB Survey: Half of U.S. Businesses Have Been Hacked

More than half of U.S. businesses (53 percent) have experienced a cyber attack in the past year, according to a survey of business executives released today by The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re. … Source: Claims Journal

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Climate Change May Cost U.S. $1B a Day as Planet Heats Up

Stronger hurricanes, hotter heat waves, more frequent wildfires and more severe public-health issues are all adding to the costs of climate change, which will reach almost $1 billion a day in the U.S. within a decade, according to a report … Source: Claims Journal

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Citizens Estimates $1.23B In Insured Losses from Hurricane Irma

Hurricane Irma will generate up to 70,000 claims and approximately $1.23 billion of insured losses to Citizens Property Insurance Corporation over the next 18 to 24 months, according to initial estimates presented to Citizens Board of Governors on Wednesday. Chris … Source: Claims Journal

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