Key Takeaways The U.S. Mint struck the final circulating penny on Wednesday, officially ending 232 years of production due to unsustainable production costs. Each penny now costs 3.69 cents to produce, and people using less physical cash has reduced the need for them. Rounding could be the new normal as businesses begin to shift cash […]
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Jamaica has invested tens of millions of dollars in bolstering coastal defenses by planting mangroves, building seawalls and strengthening urban infrastructure. It wasn’t close to enough to withstand Hurricane Melissa’s 185-mile-an-hour winds and 13-foot storm surge that destroyed thousands of homes, washed away roads and bridges, flooded farm fields and took down the electrical grid.
Hurricane Melissa Shows How Quickly Climate Change Is Outstripping Defenses Read More »
Hurricane Melissa became the most powerful storm on record to strike Jamaica in part because of water made hotter and air made wetter by global warming, a new analysis has found. The storm was also one of the strongest to ever form in the Atlantic, with winds reaching 185 mph shortly before making landfall in
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Key Takeaways Physical Social Security checks will no longer be issued starting Sept. 30. Beneficiaries will only receive electronic payments after the end of the month Advocates warn that changes could confuse beneficiaries or bring inaccessibility. Physical Social Security checks will no longer be issued starting Sept. 30, and it could cause issues for some
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Two years ago, extreme rainfall inundated Hong Kong, turning roads into raging rapids, submerging cars and flooding malls, making it one of the city’s most costly weather events ever. When another round of record-breaking rains drenched the city last month, the damage and disruption were comparatively minimal. “I was looking outside the window, seeing the
Hong Kong Boosts Flood Management as Climate Change Fuels Heavy Rains Read More »
Key Takeaways The Federal Reserve’s interest rate moves directly impact the APYs savers earn. Rate cuts can erode consumer purchasing power. Pay close attention to Fed-related headlines for any clues regarding the direction of interest rates. Online banks may respond more aggressively to Fed policy changes. Consider ladders of long-term CDs or T-bills that may
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Medicare open enrollment is almost here, and your Annual Notice of Change (ANOC) letter should be arriving soon. If you have a Medicare Part D or Medicare Advantage Plan, this document is crucial. The information inside will help you decide whether to keep your current coverage or find a new plan for the coming year.
Don’t Toss It! Why Your Medicare Annual Notice of Change Matters Read More »
Key Takeaways Federal Reserve interest rate changes can directly influence borrowing costs for small businesses. Falling rates create expansion opportunities for small-biz managers who are prepared. Rising rates squeeze cash flow and can increase business debt. Higher interest rates can translate into lower consumer demand. Financial resilience comes from planning ahead to be flexible. The
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When Dave Jones first started talking about climate change and what insurers should be doing about it some 15 years ago, the response could be thought of as something akin to a collective shrug. There wasn’t much to say. Insurance policies were renewed annually, and the effects of global warming that would become bad enough
Former California Insurance Commissioner Carries on Climate Change Crusade Read More »
Proposals from the Prudential Regulation Authority represent a significant regulatory shift in the way UK insurers approach climate-related financial risk Related Stories ID Podcast: Record reinsurance capacity drives market dynamics: Howden’s David Flandro US casualty reserve issues may be easing, brokers say US casualty reserves issues may be easing, brokers say
Regulators look to change management of climate risks Read More »