March 23, 2015: Sad Tale of Southport Lane and California's Looming Catastrophic Drought

Chris Westfall
Chris Westfall

Risk Science: What You Need to Read Today

The Economics of California’s Drought

The Atlantic

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

Washington Post

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

LA Times

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

Sydney Morning Herald

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

WSJ (sub may be required)

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

The Telegraph

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

Navigating a New Course for Longevity Risk

Financial News

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


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