Fires - Garner Ted Armstrong Evangelistic Association https://www.garnertedarmstrong.org Let No Man Take Your Crown Tue, 23 Jul 2024 22:43:27 +0000 en-US hourly 1 https://www.garnertedarmstrong.org/wp-content/uploads/2024/05/cropped-Screen-Shot-2024-05-16-at-1.06.13-PM-32x32.png Fires - Garner Ted Armstrong Evangelistic Association https://www.garnertedarmstrong.org 32 32 Chrysler recalls more than 24,000 hybrid minivans, tells owners to stop charging them https://www.garnertedarmstrong.org/chrysler-recalls-more-than-24000-hybrid-minivans-tells-owners-to-stop-charging-them/?utm_source=rss&utm_medium=rss&utm_campaign=chrysler-recalls-more-than-24000-hybrid-minivans-tells-owners-to-stop-charging-them Tue, 23 Jul 2024 22:43:27 +0000 https://www.garnertedarmstrong.org/?p=46138 Chrysler parent Stellantis announced this week its recalling tens of thousands of hybrid vehicles due to the possibility of battery fires. More than 24,000 vehicles across the globe are subject to the recall announced Thursday by the company based in … Read More

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]]> Chrysler parent Stellantis announced this week its recalling tens of thousands of hybrid vehicles due to the possibility of battery fires.

More than 24,000 vehicles across the globe are subject to the recall announced Thursday by the company based in Amsterdam, Reuters is reporting.

“The events are linked to a rare abnormality in individual cells of the model’s high-voltage battery pack,” Stellantis, wrote in a statement obtained by Reuters. “Vehicle risk is reduced when the battery charge level is depleted and the company said owners should refrain from recharging pending the recall completion.”

Customers affected by the recall are being asked by the company to park affected minivans outside away from buildings and to stop charging them to prevent a fire from breaking out.

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Source: https://www.usatoday.com/story/money/cars/recalls/2024/07/19/chrysler-pacifica-hybrid-recall/74466629007/

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]]> Insured losses in 2017 most ever at $135 billion after hurricanes https://www.garnertedarmstrong.org/insured-losses-2017-ever-135-billion-hurricanes/?utm_source=rss&utm_medium=rss&utm_campaign=insured-losses-2017-ever-135-billion-hurricanes Thu, 04 Jan 2018 19:30:19 +0000 http://www.garnertedarmstrong.org/?p=3505 Insurers will have to pay claims of around $135 billion for 2017, a new report shows Insurers will have to pay claims of around $135 billion for 2017, the most ever, following a spate of hurricanes, earthquakes and fires in … Read More

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Insurers will have to pay claims of around $135 billion for 2017, a new report shows
Insurers will have to pay claims of around $135 billion for 2017, a new report shows

Insurers will have to pay claims of around $135 billion for 2017, the most ever, following a spate of hurricanes, earthquakes and fires in North America, according to a report published today.

German reinsurer Munich Re, in its annual natural catastrophe review, also said last year’s total losses, including those not insured, were $330 billion.

This makes 2017 the second-worst year in history after 2011 when an earthquake and tsunami wreaked havoc in Japan.

Although individual events could not be linked directly to climate change, global warming is playing a role, Munich Re said. It expected more frequent extreme events in future.

“We have a new normal,” said Ernst Rauch, head of Munich Re’s Corporate Climate Centre, which monitors climate change risks.

“2017 was not an outlier,” he said, noting insured losses have surpassed $100 billion multiple times since 2005. “We must have on our radar the trend of new magnitudes.”

Last year’s hurricanes Harvey, Irma and Maria in the US and Caribbean, wildfires in California and earthquakes in Mexico destroyed homes, infrastructure and numerous lives.

The disasters also rocked global insurers. Munich Re and Hannover Re have both issued profit warnings.

That dealt a blow to a sector already struggling with thin margins, stiff competition and falling prices.

Munich Re’s tally for the industry comes on the back of other estimates that underscored the severity of 2017.

In December, Swiss Re estimated global insured losses from catastrophes would hit $136 billion in 2017, the third-highest on record for the sector, with the US hardest hit.

That figure is not directly comparable to Munich Re’s estimates as it includes man-made disasters.

Reinsurers, which are in the business of insuring insurance, are experts in managing risk and rarely get caught off guard.

Analysts have said reinsurers may need to take a fresh look at their risk models as the planet warms and storms become more intense.

A big question for the industry has been whether the run of catastrophes would allow them to achieve higher prices for their coverage, which have been in decline for years.

Early indications suggest modest increases. Global property reinsurance prices rose less than expected in the key January 1 renewal season, with strong competition limiting increases to single digit percentages, brokers said this week.

A turnaround in prices would be the first major reversal since Hurricane Katrina in 2005.

Source: https://www.rte.ie/news/business/2018/0104/931029-munich-re-natural-catastrophe-review/

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