House Republicans unveiled a budget proposal Tuesday that would slash Medicare spending by $537 billion and funding for Medicaid and other health care programs by $1.5 trillion. The proposal would also fast-track a reconciliation process that would allow Senate lawmakers to repeal the Affordable Care Act with only 50 votes.
A MuleSoft survey has found 44% of consumers worldwide are fine with insurers using third-party data or collecting data from smart home devices and health-monitoring apps to reduce premiums and to get personalized service. "If such data is made readily available by social media sites to insurance providers, the industry should work with regulators to ensure processes are put in place to enable customers to indicate whether they want these additional data sources to be used to calculate a more personalized premium," says Jerome Bugnet of MuleSoft.
A report from the Pew Charitable Trusts says states are often unaware of their total spending on natural-disaster readiness and relief, which could mean states are covering too much of disaster-related costs before they receive federal aid. Several states are undertaking mitigation efforts in line with the Federal Emergency Management Agency's "Mitigation Moonshot," which aims for a fourfold increase in mitigation spending by federal, state and local governments along with private and nonprofit entities.
A high level of capacity in the market has caused property insurance rates to increase less than expected at July 1 renewals, despite the effects of 2017's natural catastrophes, according to industry executives. "Even though rate levels have dropped below a sustainable level across the entire global property market, increases are not across the board but rather vary by client," said Gary Love of FM Global.
Areas of Colorado experienced severe weather on Tuesday, with reports of hail damaging vehicles as well as one confirmed tornado and a suspected tornado. The storms also knocked a semi-trailer on its side in Keenesburg, north of Denver.
More than 800 residents affected by the recent eruption of Hawaii's Kilauea volcano are seeking relief from the Federal Emergency Management Agency now that President Donald Trump authorized an unspecified amount of housing aid for the victims.
Everyone who evacuated because of Colorado's 416 Fire has been allowed to return home as of Tuesday, as the remnants of Hurricane Bud have helped crews reach 35% containment of the fire. One town has canceled its July Fourth fireworks displays because of fire risk.
The US Computer Emergency Readiness Team has issued a warning about a newly discovered malware launched by North Korean group Hidden Cobra, also known as Lazarus Group. "These files have the capability to download and install malware, install proxy and Remote-Access Trojans (RATs), connect to command-and-control servers to receive additional instructions, and modify the victim's firewall to allow incoming connections," the US-CERT report notes.
A study by the Union of Concerned Scientists found that "chronic" flooding could be a problem for more than 310,000 US coastal homes by 2045 and nearly 2.4 million by 2100, with $1 trillion in property value at risk. The greatest threat from persistent flooding is in Florida, New York and New Jersey, according to the study.
More than 1,000 lawsuits regarding climate change are currently outstanding worldwide, with governments and big oil companies as targets, Sony Kapoor writes. The plaintiffs in such cases have had few victories, but science linking damage to climate change is improving, and successful lawsuits will set precedents that could translate to more risk and costs for entities that are sued, Kapoor writes.
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