Crisis

Wildfire Insurance Crisis for California Homeowners

Firefighters monitoring California wildfire (Credit: Anda Chu/MediaNews Group/East Bay Times via Getty Images)
Firefighters monitoring California wildfire (Credit: Anda Chu/MediaNews Group/East Bay Times via Getty Images)

Homeowners in fire-prone areas of California may soon find there’s no one to insure their properties.

Last year, the state barred insurance companies from canceling policies on about 800,000 homes in or near areas with a high risk of wildfires. That ban is set to expire soon and there’s no way to renew it, according to the New York Times.

Insurance companies, which have been financially battered by huge payouts in high-risk areas, are expected to continue pulling out of them unless California officials allow them to raise rates.

“The marketplace has largely collapsed” in those high-risk areas, Graham Knaus, executive director of the California State Association of Counties, which has lobbied state lawmakers on the matter, told the Times. “It’s a very large geographic area of the state that is facing this.”

California wildfires have killed

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Business Intelligence (BI) and Analytics Platforms Market 2020-2024: Forecasting Strategy to Undergo A Paradigm Shift from Crisis to New Normal during COVID-19 Pandemic | Technavio

LONDON–(BUSINESS WIRE)–The business intelligence (BI) and analytics platforms market will witness an incremental growth of USD 12.62 billion during 2020-2024, according to the latest pandemic recovery-based research report by Technavio. Factors such as imposition of worldwide lockdowns have partially halted operations and affected supply chains and logistics. This has further impacted economies around the globe, resulting in an overall slowdown during 2020. However, businesses are gradually carving out unique pathways to recover from the COVID-19 crisis. With the exemption of lockdowns, growing incorporation of active social distancing and remote working, and surging entries of players in digital marketplaces, various industry and market conditions are likely to improve by early 2021.

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COVID-19 Highlights

  • Information Technology industry will have Mixed impact due to the pandemic
  • Business intelligence (BI) and analytics platforms market is expected to witness Positive growth during
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How Business Intelligence is helping businesses navigate a crisis

  • A report of 500 companies shows Business Intelligence tool usage has risen amid COVID-19 crisis
  • It demonstrates how data insights can provide business clarity in a period of market uncertainty
  • Findings may also points towards better utility of tools and solutions, as organizations take stock of their toolboxes

Businesses are under pressure to prove themselves ‘data-driven’ today, and really, there is little excuse not to be. Where leaders of the past had to rely on gut instinct, the advice of peers, news reports, and customer surveys and the like, today’s enterprises generate data by the minute, all which holds holds valuable, strategy-shaping insight.

Of course, combing through this vast mass of data – generated, collected and stored across various departments and databases throughout the business – is the key challenge, and one that Business Intelligence tools have sought to solve. 

Business Intelligence (BI) strategies and technologies have now been in

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5 Steps to Help Your Business Emerge Stronger From the Health Crisis


5 min read

Opinions expressed by Entrepreneur contributors are their own.


The global health crisis has caused immense disruption to the global economy, and many companies around the world have been severely affected. Even so, some businesses have shown inspiring innovation in these challenging times.

Over the past few weeks, American automaker Ford innovated and produced 2.4 million protective face shields for medical personnel, assembling the raw materials, manufacturing capabilities and people over one weekend. British tech company Dyson pivoted to create a ventilator product in 10 days, while French fashion and luxury retailer Louis Vuitton announced recently that it will convert its perfume production lines to start making hand sanitizer.

How can business owners learn from the quick thinking of these companies and emerge stronger? Here are five suggestions.

1. Talk to your customers and listen to them.

Whether you are a restaurant owner or an

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About the decisions taken by European bank regulators and supervisors in the face of the coronavirus crisis

Bank regulators and supervisors have taken a number of important measures over the past two weeks in reaction to the coronavirus crisis. In our view, those measures make a lot of sense in the current fire-fighting context. We consider that the two priorities of bank regulators and supervisors should be 1) to ensure that credit is extended to enterprises during these extremely challenging times, and 2) to preserve financial stability.  This is precisely what they are doing: the measures taken have to be analysed together and, seen through that lens, they show a high level of coherence.

Among those measures, the most noteworthy are:

  • Excluding from non-performing loans credit extended by banks to support enterprises facing liquidity difficulties and benefiting from state guarantees.
    • Comment: this is the best way to resolve the impossibility that banks would have otherwise to support the economy without endangering
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5 Ways to Protect Your Business and Personal Credit Scores During a Crisis


5 min read

Opinions expressed by Entrepreneur contributors are their own.


Between uncertain cash flow and concern over how to meet financial obligations such as payroll and bills, it’s a stressful time to be a small-business owner. Many entrepreneurs are experiencing the same anxieties over unemployment, debt and financial sustainability. Your personal and business credit scores could take a hit if you have to miss payments due to a cash shortfall. 

Related: The Zero-Sum Mindset: How to Avoid Toxic Thinking in Moments of Crisis

Implement these strategies to help protect your credit score while we wait for the pandemic to pass:

1. Regularly review bank accounts for any suspicious activity.

Unfortunately, crises and the financial relief that often follows seem to bring out fraudsters and criminals. That’s certainly true in the current crisis with the CARES Act, which has already prompted its share of scams targeting your

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Germany’s finance official’s death linked to virus crisis

The state finance minister of Germany’s Hesse region, which includes Frankfurt, has been found dead. Authorities said he appears to have killed himself and the state’s governor suggested Sunday that he was in despair over the fallout from the coronavirus crisis.

The body of Thomas Schaefer, a 54-year-old member of Chancellor Angela Merkel’s Christian Democratic Union, was found Saturday on railway tracks at Hochheim, near Frankfurt. 

Police and prosecutors said that factors including questioning of witnesses and their own observations at the scene led them to conclude that Schaefer killed himself.

Germany Politics Thomas Schäfer

April 24, 2019 Thomas Schäfer (CDU), Minister of Finance of Hesse in Frankfurt, Germany. (AP)

AP/DPA

RELATED: Coronavirus live updates: Authorities urge hard-hit New York City region to stay home

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State governor Volker Bouffier linked Schaefer’s death to the virus crisis on Sunday.

Bouffier said Schaefer was worried

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Death of German finance official linked to virus crisis

BERLIN (AP) — The state finance minister of Germany’s Hesse region, which includes Frankfurt, has been found dead. Authorities said he appears to have killed himself and the state’s governor suggested Sunday that he was in despair over the fallout from the coronavirus crisis.

The body of Thomas Schaefer, a 54-year-old member of Chancellor Angela Merkel’s Christian Democratic Union, was found Saturday on railway tracks at Hochheim, near Frankfurt.

Police and prosecutors said that factors including questioning of witnesses and their own observations at the scene led them to conclude that Schaefer killed himself.

State governor Volker Bouffier linked Schaefer’s death to the virus crisis on Sunday.

Bouffier said Schaefer was worried about “whether it would be possible to succeed in fulfilling the population’s huge expectations, particularly of financial help.”

“I have to assume that these worries overwhelmed him,” Bouffier said. “He apparently couldn’t find a way out. He was

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Personal Finance Advice For The Coronavirus Crisis : NPR

NPR’s Michel Martin speaks with Kimberly Palmer, personal finance expert at NerdWallet, about money management during the coronavirus pandemic.



MICHEL MARTIN, HOST:

We’re focusing this hour on answering practical questions about the coronavirus and all the changes to daily life it’s brought about. In a minute, we’ll hear about how to juggle dating and social distancing. But first, we’re going to turn our attention to personal finances.

It’s probably safe to assume that the steps being taken to control the coronavirus outbreak is affecting your finances. On the one hand, you might be saving on your commute. On the other, you might be spending more, stocking up on food and cleaning supplies or books and games and activity sets for the kids. And a lot of people are making less money or seeing income dry up completely because so many workplaces have shut down.

That got us wondering about what

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