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# March 23, 2015: Sad Tale of Southport Lane and California's Looming Catastrophic Drought
- URL: https://www.riskmarketnews.com/march-23-2015-sad-tale-of-southport-lane-and-californias-looming-catastrophic-drought/
- Published: 2015-03-23T06:46:23.000Z
- Updated: 2015-03-23T06:46:23.000Z
- Author: Chris Westfall

## Risk Science: What You Need to Read Today

### [The Economics of California’s Drought](http://www.theatlantic.com/national/archive/2015/03/the-economics-of-californias-drought/388375/?ref=riskmarketnews.com)

#### [The Atlantic](http://www.theatlantic.com/national/archive/2015/03/the-economics-of-californias-drought/388375/?ref=riskmarketnews.com)

What happens when the country’s largest state runs low on water?

### [Silent Spring: No Severe Thunderstorm or Tornado Watches Issued So Far in March](http://www.washingtonpost.com/blogs/capital-weather-gang/wp/2015/03/20/silent-spring-no-severe-thunderstorm-or-tornado-watches-issued-so-far-in-march/?ref=riskmarketnews.com)

#### [Washington Post](http://www.washingtonpost.com/blogs/capital-weather-gang/wp/2015/03/20/silent-spring-no-severe-thunderstorm-or-tornado-watches-issued-so-far-in-march/?ref=riskmarketnews.com)

For the first time in 45 years, the National Weather Service has yet to issue a single severe thunderstorm or tornado watch this deep into March.

### [Cost to Earthquake-Proof L.A.’s Crumbling Pipe System? $15 Billion](http://www.latimes.com/local/cityhall/la-me-earthquake-pipes-20150320-story.html?ref=riskmarketnews.com#page=1)

#### [LA Times](http://www.latimes.com/local/cityhall/la-me-earthquake-pipes-20150320-story.html?ref=riskmarketnews.com#page=1)

Repairing L.A.’s crumbling pipe system could be one of the costliest infrastructure projects in state history

### [Climate Future: Fewer But More Intense Cyclones Predicted in Aftermath of Pam](http://www.smh.com.au/environment/climate-change/climate-future-fewer-but-more-intense-cyclones-predicted-in-aftermath-of-pam-20150321-1m2xxd.html?ref=riskmarketnews.com)

#### [Sydney Morning Herald](http://www.smh.com.au/environment/climate-change/climate-future-fewer-but-more-intense-cyclones-predicted-in-aftermath-of-pam-20150321-1m2xxd.html?ref=riskmarketnews.com)

Assessing cyclone strengths is challenging as ground stations in the maw of a storm are often damaged.

## Risk Business: What You Need to Read Today

### [Young Financier’s Insurance Empire Collapses](http://www.wsj.com/articles/young-financiers-insurance-empire-collapses-1426881926?ref=riskmarketnews.com)

#### [WSJ (sub may be required)](http://www.wsj.com/articles/young-financiers-insurance-empire-collapses-1426881926?ref=riskmarketnews.com)

Investments of insurance companies owned by Southport Lane Management were swapped for unusual and sometimes worthless assets.

### [Cyber Attacks Could Give a Lift to the London Insurance Market](http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/11486851/Cyber-attacks-could-give-a-lift-to-the-London-insurance-market.html?ref=riskmarketnews.com)

#### [The Telegraph](http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/11486851/Cyber-attacks-could-give-a-lift-to-the-London-insurance-market.html?ref=riskmarketnews.com)

The government is working with firms to build an industry in Britain.

### [Navigating a New Course for Longevity Risk](http://www.efinancialnews.com/story/2015-03-23/navigating-a-new-course-for-longevity-risk?ref=riskmarketnews.com)

#### [Financial News](http://www.efinancialnews.com/story/2015-03-23/navigating-a-new-course-for-longevity-risk?ref=riskmarketnews.com)

The Merchant Navy Officers Pension Fund is not unaccustomed to charting new waters, and its recent deal with reinsurer Pacific Life Re has established a new trade route for longevity risk swaps.

### [Fed Still Learning On Insurance Industry Oversight – Lockhart](http://www.reuters.com/article/2015/03/20/usa-fed-lockhart-insurance-idUSW1N0VL02G20150320?ref=riskmarketnews.com)

#### [Reuters](http://www.reuters.com/article/2015/03/20/usa-fed-lockhart-insurance-idUSW1N0VL02G20150320?ref=riskmarketnews.com)

The Federal Reserve is still coming to grips with how large insurance companies should be regulated to protect the financial system.