[ad_1] (Bloomberg) — Wall Street brokers have started selling insurers’ claims tied to Los Angeles’ deadly wildfires, which may trigger a payout from the utilities blamed for the destruction, according to people familiar with the matter. Investors are buying so-called subrogation claims, obtaining an insurer’s right to compensation from a utility if it’s found liable…
[ad_1] The recent California wildfires have reignited global concerns about climate change and its role in intensifying natural disasters. Beyond the immediate devastation, they have also highlighted a growing crisis in the insurance industry. It is the rise of insurance deserts—regions where access to insurance becomes scarce or nonexistent due to extreme risk and unsustainable…
[ad_1] (Bloomberg) — Severe drought conditions have helped fuel the Los Angeles wildfires. But a new study, released Thursday in the journal Science comes with a warning: Climate change is making catastrophic, multiyear “megadroughts” much worse around the world. Droughts are relative — a drought in normally rainy Seattle, for example, might register as an unusually wet period…
[ad_1] (Bloomberg Opinion) — There has always been something a little gaudy, ostentatious and— if we’re being totally candid — tacky about awards season in Hollywood. The Oscars began in May 1929 as a 15-minute industry dinner (free of any suspense, as the winners had been announced three months earlier) and ballooned in the following…
[ad_1] Los Angeles Wildfires: Climate change is increasingly delaying the onset of autumn and winter rains in parts of California, and in Los Angeles the period since July 2024 has had the second-lowest rainfall in 150 years, reports said. Planet-heating gases from burning oil, coal and gas are making wildfires in California more frequent and…
[ad_1] Massive wildfires roaring through the Los Angeles area left neighborhoods in ruins Wednesday (January 8, 2024), killing at least two people and threatening landmarks made famous by Hollywood as desperate residents escaped through flames, hurricane-force winds and towering columns of smoke. Three major blazes that erupted just a day earlier blanketed the city with…
