$62,000
Los Angeles-based Farmers Group Inc. announced it gave $62,000 to the La Jolla Band of Mission Indians to help rebuild after the Southern California fires of 2007. Farmers Executive Vice President of Field Operations Jerry Carnahan said over half the homes on the La Jolla Tribe’s lands — 62 homes — were burned. Farmers Group Inc. is a wholly owned subsidiary of Zurich Financial Services.
$600 Million
Catastrophe risk modeling firm Air Worldwide estimated insured losses from the Jan. 4-8 west coast winter storm could reach as high as $600 million, with the vast majority of those losses in California. The estimate reflects losses to property, contents, and direct business interruption and additional living expenses for residential, mobile home, commercial, and auto exposures. They do not include crop losses. The storm flooded towns, downed power lines, and dropped extraordinary amounts of snow from Washington State to Southern California. The Sierra Mountains near Lake Tahoe were hardest hit; 11 feet of snow fell on the popular resort area in just 72 hours. Nearby, at Ward Mountain, the highest winds were recorded on Jan. 4 — sustained at 110 mph, gusting up to 163 mph.
2,400
Development in parts of Hawaii’s Big Island at high risk of being covered in lava surged after the state began providing homeowners insurance to such areas. Now, the 15-year-old program, the Hawaii Property Insurance Association, provides more than 2,400 policies to homes that private insurers won’t cover in the highest risk lava zones of Puna and Kau. Puna, with its many lava zones, is the fastest-growing region on the Big Island. Lava recently flowed down Kilauea to within a quarter-mile of the mostly abandoned Royal Gardens subdivision, illustrating the danger of building homes on the slopes of an active volcano. AP
$42.5 Million
The amount American International Specialty Lines Insurance Co. Inc. (AISLIC) will pay to clean up contamination at four industrial facilities run by a bankrupt insured in a suit in which the Department of Justice intervened on behalf of the Environmental Protection Agency and other agencies. The EPA says the case is a reminder to insurance companies that they can be responsible for their bankrupt clients’ contaminated sites.The four sites, formerly owned by Fruit of the Loom, which filed for bankruptcy nine years ago, are located in Michigan, New Jersey, and Tennessee.
Topics California Pollution
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