News & Analysis as of

Risk Management Severe Weather

J.S. Held

CAT Season: Hazards, Resources, and How to Prepare

J.S. Held on

Catastrophic events (CAT) include hurricanes, floods, landslides, tsunamis, volcanic eruptions, earthquakes, tornados, and wildfires (See Figures 1-4 below). “CAT season” is the phrase experts commonly use to describe the...more

J.S. Held

Beyond the Name: Understanding the Full Impact of Tropical Cyclones

J.S. Held on

During the deep summer and early fall, all eyes are on the tropics in areas prone to hurricane activity. Most storms begin as “invests,” or areas of rain shower and thunderstorm activity that is closely monitored by hurricane...more

J.S. Held

Severe Convective Storms and Associated Insurance Weather Risks

J.S. Held on

Severe convective storms (SCSs) occur during all seasons in the United States. According to Aon, severe convective storms have accounted for 70% of global insurance losses in recent years, and there continues to be a rise in...more

J.S. Held

Weather Hazards & Insurance Claims Considerations Across the US

J.S. Held on

Introduction: Exploring Hazardous Weather Patterns Across the US - Every day, somewhere in the United States, some sort of hazardous weather is occurring. The vastness of the nation—from the Arctic Ocean coastline to the...more

Stinson LLP

EPA Publishes Clean Water Act "Worst-Case" Spill Rule

Stinson LLP on

On March 28, the U.S. Environmental Protection Agency (EPA) published its Final Rule: Clean Water Act Hazardous Substance Facility Response Plans (Final Rule) requiring facilities that handle hazardous substances to create...more

ASKramer Law

Weather & Climate Risk Management Part IV: Taxation of Weather Risk Management Products

ASKramer Law on

Are there differences in the way in which weather derivatives and weather insurance are taxed? Yes. Weather insurance products, including parametric insurance, are taxed as insurance; and derivatives are taxed in accordance...more

ASKramer Law

Weather & Climate Risk Management Part III: Regulation of Weather Risk Management Products

ASKramer Law on

Are there differences in the way in which derivatives and insurance contracts are regulated? Yes. Weather derivatives and insurance contracts are subject to totally different regulatory regimes. Derivatives are subject to the...more

ASKramer Law

Weather & Climate Risk Management Part II: Weather Risk Management Products

ASKramer Law on

In Part I of this series on weather and climate risk management, I reviewed the context within which organizations seek to manage climate and weather-related risks. With extreme weather events becoming more common, there are...more

ASKramer Law

Weather & Climate Risk Management Part I: Management of Weather & Climate Risks

ASKramer Law on

2023 was the hottest year on record. Not only the hottest since U.S. meteorological recordkeeping began in 1850, but according to Scientific American, 2023 was also “the hottest temperature that our planet has experienced in...more

Pillsbury Winthrop Shaw Pittman LLP

SEC Adopts Long-Anticipated Final Rules on Climate-Related Disclosure Requirements

The rules impose standardized disclosure requirements on public companies beginning as early as 2026 (for fiscal year ending 2025, depending on filer status). Climate-related disclosures, including in financial statement...more

ArentFox Schiff

EPA Finalizes Changes to the Clean Air Act’s Risk Management Program

ArentFox Schiff on

On March 1, the US Environmental Protection Agency (EPA) announced finalized amendments to the Clean Air Act’s Risk Management Program (RMP) through the Safer Communities by Chemical Accident Prevention Rule (Final Rule). ...more

Dechert LLP

SEC Adopts Final, Comprehensive Climate Disclosure Rules

Dechert LLP on

On March 6, 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted on a 3-2 vote its long-awaited, comprehensive rules for enhancing and standardizing climate-related disclosures by public companies in periodic...more

Mintz

SEC Issues Long-Awaited Climate Disclosure Rule

Mintz on

Today, after nearly two years of anticipation, the SEC finally enacted a climate disclosure rule on a 3-2 party-line vote by the SEC Commissioners. As described by SEC Commissioner Lizarrage, “[b]y requiring registrants to...more

StoneTurn

Risk Awareness and Mitigation in Disaster Recovery: After a Catastrophe

StoneTurn on

Natural disasters, while undoubtedly disruptive and damaging, can serve as powerful catalysts for organizational transformation if approached with foresight and strategic intent. As we’ve explored, successful post-disaster...more

J.S. Held

Solar Farm Hail Damage: The Perfect Storm

J.S. Held on

Hail the size of golf balls, softballs, and even grapefruit has always made weather news. Each spring and early summer, local weather stations and people across the United States share photos and videos on social media of...more

King & Spalding

NOAA Interactive Tool Features Community-Level Natural Disaster Risk Mapping

King & Spalding on

The National Oceanic and Atmospheric Administration (“NOAA”) recently released an update to its Disaster and Risk Mapping Tool that now allows users to assess natural disaster risks at the community level. NOAA’s...more

Burr & Forman

Tornadoes and Other Catastrophic Events Can Cripple a Construction Project—And How to Respond

Burr & Forman on

Last month, a construction worker died as a storm swept through a construction site in Lebanon, Indiana. The preliminary investigation determined that the contractor was on an elevated platform while working on an industrial...more

J.S. Held

Energy Storage and Its Potential Impact on Business Risks

J.S. Held on

This paper follows up on a previous assessment and overview of energy system reliability challenges experienced during the February 2021 extreme cold weather event which affected the land area comprising the Electric...more

Bricker Graydon LLP

Snowmageddon! How to avoid workers’ compensation claims from weather-related slips and falls

Bricker Graydon LLP on

Snowmageddon, snowpocalypse, snowzilla...whatever you call it, it’s cold! And, with the cold comes snow, ice, and slips and falls. Every year there is a significant number of weather-related slip and fall injuries that occur...more

Lowndes

Weathering an Employer's Duties During the Storm

Lowndes on

Hurricane season is only half over, with Hurricane Ida leaving a trail of damage across Louisiana and beyond, and Hurricane Larry swirling in the Atlantic Ocean, although the storm is not expected to make landfall in the U.S....more

Thomas Fox - Compliance Evangelist

Compliance Lessons from a Short Cold Snap

The last time I did a weather-related blog post was in the aftermath of Hurricane Harvey, which decimated Houston and most of south Texas. Unfortunately, most of the damage to Houston came from a man-made event which was the...more

Zelle  LLP

Climate Change for Insurers: When Politics Fail, Flood the Courts

Zelle LLP on

This article follows on from a series of previous articles seeking to address climate change litigation in the context of insurance and reinsurance. Three different, but important, decisions in December 2019 have once again...more

Carlton Fields

The Hurricane is Coming in Five Days - Are We Ready for This?

Carlton Fields on

On August 24, 1992, Hurricane Andrew made landfall in Homestead, Florida as a Category 4 hurricane. At the time, it was the third most intense hurricane that ever struck the United States. Andrew had sustained winds of 149...more

Seyfarth Shaw LLP

Cool For the Summer

Seyfarth Shaw LLP on

Seyfarth Synopsis: As the mercury rises, California employers must comply with regulatory requirements to keep their employees cool.  Employers should be aware of Cal/OSHA’s existing requirements for outdoor workplaces and...more

Pillsbury Winthrop Shaw Pittman LLP

Hurricane Barry: Prepare Now to Maximize Insurance Recoveries

Affected businesses and other organizations should take immediate and proactive steps to maximize insurance recovery. Gather insurance policies, as well as binders, and save them electronically or take them to an...more

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